Refinance Savings Calculator
Compare your current rate against a sharper one and see the saving instantly.
Indicative variable rates as at 19/07/2026: 5.80%–6.20%.
Estimated Saving
$2,896/yr
- Current repayment
- $3,748/mo
- New repayment
- $3,507/mo
- Monthly saving
- $241
Estimate only — not a formal assessment or loan offer. Results use simplified assumptions; your actual position depends on your full circumstances. Speak to a TAG broker for a free, personalised assessment.
Want this checked by a broker?
Free, no obligation — we compare 25+ lenders against your actual situation.
Get It Checked FreeLenders quietly charge loyal customers more — typically 0.3–0.8% above what new customers get. On a $550,000 balance, half a percent is around $2,700 a year.
Australians who switched lenders saved an average of about $1,900 a year (PEXA). The calculator shows your potential number; the free TAG health check confirms it against real lender offers within 24 hours.
How much does refinancing save on average?
Around $1,900 a year for Australians who switch to a new lender, according to PEXA's refinancing research — more if your rate has drifted well above market. Your actual saving depends on your balance and rate; the calculator above gives you a personal estimate in seconds.
Does the saving outweigh the switching costs?
Usually, yes — typical refinance costs are $300–$700, so a saving of even $100 a month pays them back in months. The exceptions are large fixed-rate break costs, which is why we always get your exact break fee before recommending a switch.
General information and estimates only — not a formal assessment, loan offer or credit advice. Transact Holdings 1 Pty. Ltd., Australian Credit Licence 405647.