Loan Refinance Calculator

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Finance Updated 16 Jun 2026

Loan Refinance Calculator is a financial calculator that helps you calculate loan or mortgage payment amounts and total repayment cost. The formula used is: Monthly Savings = Current EMI − New EMI\nBreakeven = Closing Costs / Monthly Savings\nTotal Savings = Total Current Cost − (Total New Cost + Closing Costs). Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).

Formula

Monthly Savings = Current EMI − New EMI Breakeven = Closing Costs / Monthly Savings Total Savings = Total Current Cost − (Total New Cost + Closing Costs)

Example Calculation

Inputs
  • Current Loan Balance (PKR): 2000000 PKR
  • Current Annual Rate: 24 %
  • Remaining Months on Current Loan: 48 months
  • New Loan Annual Rate: 18 %
  • New Loan Term: 60 months
  • Closing / Processing Costs (PKR): 20000 PKR

Suppose you enter: Current Loan Balance (PKR) = 2000000, Current Annual Rate = 24, Remaining Months on Current Loan = 48, New Loan Annual Rate = 18, New Loan Term = 60, Closing / Processing Costs (PKR) = 20000. The calculator applies the formula (Monthly Savings = Current EMI − New EMI\nBreakeven = Closing Costs / Monthly Savings\nTotal Savings = Total Current Cost − (Total New Cost + Closing Costs)) and shows all output values below. Change any input field to immediately see how the result changes.

Frequently asked questions

What is the Loan Refinance?
The Loan Refinance Calculator is a financial calculator that helps you calculate loan or mortgage payment amounts and total repayment cost. Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
When should I use this calculator?
Use this calculator whenever you need a quick, accurate result for loan or mortgage payment amounts and total repayment cost without working through the arithmetic manually.
What units should I enter?
Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
How accurate are the results?
Assumes constant rates, no additional fees, and no tax unless stated. Actual outcomes vary with market conditions.
How do I interpret the result?
Compare against your financial goals or market benchmarks. A higher figure may mean greater cost or greater return depending on context.
How can I verify the calculation manually?
Use the displayed formula and work through the numbers step by step. If your manual result differs slightly, check rounding and unit conversions first.
Can I use this for planning and budgeting?
Yes. Run best-case, expected, and worst-case inputs to compare outcomes and make safer planning decisions.