Updated 17 February 2021
- Wondering how much refinancing a personal loan will save you per month? Our calculator shows you in seconds.
- To use the calculator, enter your current loan balance, loan terms remaining (i.e. number of months) and the current interest rate. You then will enter in the refinanced amount, the loan term and interest rate.
- The calculator will show your new payment, monthly savings (i.e. current loan vs refinanced loan) and display your current/original payment.
- You can click on Compare Lenders to see the latest personal loan offers.
Disclaimer: This is a guide using standard assumptions to estimate your monthly personal loan repayment cost. It excludes late fees, early repayment fees, account management fees and penalty interest for late repayments. Before refinancing any loan, ask the lender for the total cost of the borrowing and compare this to your existing loan agreement. This calculator assumes interest rates are fixed - some lenders offer floating interest rate personal loans.
MoneyHub's Top 3 Personal Loans - Avoid high interest rates and high fees with our top three trusted lenders.
- Our research highlighted three leading lenders that reliably and consistently offer fair interest rates to the majority of borrowers.
- We suggest contacting Harmoney, Simplify Loans (car loans only) and Lending Crowd (in that order) to see what interest rate they will offer.
- Applying generally takes only a few minutes.
- Advertising Disclosure: We may receive a commission if you take out a loan, but this does not influence our shortlist. Interest rates vary based on each borrower.
- Remember, its the interest rate you agree to now that makes a huge difference when you repay your loan week after week. Signing up for finance with a car sales person or via a bank over the counter is unlikely to be the cheapest option.