Sarah Chen
The refinance calculator shows how much you could save by switching your existing Singapore home loan to a new package, after accounting for the new interest rate, legal and valuation fees, and any penalties. It turns a confusing decision into a single net-savings figure and a clear break-even point.
When your home loan's lock-in period ends, your interest rate often jumps to a higher "thereafter" rate. Refinancing (moving your loan to a different bank) or repricing (switching to a new package with your current bank) can bring the rate back down. But switching is not free, so the real question is whether the interest you save outweighs the cost of moving.
This calculator answers that. You enter your outstanding loan amount, remaining tenure, current interest rate and the new rate you have been offered. It calculates your monthly saving, your total saving over a chosen period, and, after subtracting switching costs, your net benefit.
The calculation compares two repayment streams. First, it works out your monthly instalment at your current rate. Then it does the same at the new rate. The difference is your gross monthly saving, which it multiplies across the period you plan to hold the new package.
From that gross saving it deducts the typical costs of switching:
The result is the net amount you actually keep. A positive figure means refinancing pays off; a small or negative figure suggests waiting or repricing instead.
Say you have S$700,000 outstanding over 20 years at 4.2%, and you are offered 3.3%. The lower rate cuts your monthly repayment by roughly S$330, or about S$3,960 a year. If switching costs S$2,500 in legal and valuation fees net of subsidy, you recover that cost in under eight months and pocket meaningful savings thereafter. The calculator confirms whether the maths works for your specific loan.
Refinancing moves your loan to a new bank and usually offers the sharpest rates, but involves legal work and fees. Repricing keeps you with your current bank, is faster and cheaper, but the rates on offer may be less competitive. This calculator helps you compare both routes by simply changing the cost inputs, so you can see which delivers the better net outcome.
Homeowners approaching the end of a lock-in period should run it well ahead of time, since arranging a switch can take a couple of months. Anyone whose rate has risen sharply, or who is on an old package with an uncompetitive spread, can use it to quantify the upside of moving. It is equally useful for deciding whether to act now or wait until a penalty period expires.
The biggest savings come from switching just as your lock-in ends and before your rate resets higher. Refinance too early and a prepayment penalty can wipe out the benefit; too late and you overpay for months on the higher thereafter rate. Modelling the net saving against the calendar helps you pick the right moment.
It is worth it when the interest saved over your holding period clearly exceeds the legal, valuation and penalty costs of switching. The calculator gives you that net figure.
Expect legal and conveyancing fees (often subsidised by the new bank), a valuation fee, and a prepayment penalty if you are still within your lock-in period.
Repricing with your current bank is cheaper and faster; refinancing to a new bank often secures lower rates. Compare the net savings of each, as the better choice depends on the rates and fees on offer.
Begin about three to four months ahead. Refinancing involves legal processing and notice to your current bank, so early planning avoids paying the higher reset rate.
You can keep the remaining tenure or adjust it, subject to MAS limits. A shorter tenure saves more interest; a longer one lowers monthly payments.
This guide is for general information and does not constitute financial advice. Always confirm exact fees and penalties with your current and prospective lenders.
The sell-one-buy-two calculator models the Singapore strategy where a couple sells their jointly owned home and each spouse buys a separate property in their sole name, allowing both purchases to qualify as first homes and avoid second-property ABSD. It calculates net sale proceeds, available cash and CPF, individual loan eligibility under TDSR, stamp duty on each new purchase, and total upfront cash required to confirm whether the strategy is feasible.
Sarah Chen·22 Jun 2026
The decoupling calculator helps Singapore property co-owners determine whether transferring one owner's share to the other is financially worthwhile. It compares the Additional Buyer's Stamp Duty saved on a subsequent purchase against the costs of decoupling, including Buyer's Stamp Duty on the transferred share, legal fees, and refinancing costs, to produce a net benefit figure.
Sarah Chen·22 Jun 2026© 2026 Cashew. All rights reserved.
