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Refinance Personal Loan Calculator

Calculate your monthly savings by refinancing your personal loan using our trusted tool

Updated 9 July 2023
  • 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.
Refinance Personal Loan Calculator
Current loan
Original Loan Amount
Original Loan Term in Months
Current Interest Rate
New loan
Refinanced Loan Amount
New Loan Term in Months
New Interest Rate
Refinancing your personal loan could save you:
New payment
Monthly savings
Original payment
Compare Personal Loans
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, First Credit Union 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. 
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