Refinancing savings

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Your figures

Outstanding loan (S$)Current annual rate (%)New annual rate (%)Remaining loan period (years)Compare over (months)Total switching costs (S$)

Net interest saving over 24 months

$13,247

Current monthly payment: $4,005
New monthly payment: $3,589
Switching costs: $2,500
Costs recovered: Month 4

Compares interest on reducing balances over the same remaining loan period, less switching costs. Include legal fees, penalties and subsidy repayments in costs. Assumes both rates stay unchanged.

Discuss these figures

Estimates only. Confirm eligibility and final figures with the bank or relevant authority.

Borrowing rules: MoneySense Stamp duty: IRAS CPF home ownership