Shorten the term
- Estimated payment
- Term
- Estimated net saving
Free tool
Early repayment or refinancing calculator
Compare a shorter term, lower payment, combined option and refinancing. Estimate legal fees and the costs you enter.
No accountIndicative resultData stays in this browser
TINO HELPSChange the figures and compare scenarios.
Keep the inputs consistent and verify final terms with the provider.
NBR policy rate6.50%checked 8 August 2026
Applied IRCC5.56%checked 8 August 2026
3M ROBOR6.42%checked 8 August 2026
01
What should you do with the available amount?
Compare three early-repayment choices with refinancing the full balance. The result uses only the figures you enter.
Estimated current payment: Estimated maximum compensation:
Every saving is measured against keeping the current loan. Principal paid is not treated as a loss.
Lower the payment
- Estimated payment
- Term
- Estimated net saving
Lower payment and term
- Estimated payment
- Term
- Estimated net saving
Refinance the full balance
- Estimated payment
- Maximum compensation on full repayment
- Estimated net saving
- Costs recovered in
Shorter term or lower monthly payment?
With the same early payment and interest rate, keeping the monthly payment clears the balance sooner. Estimated interest falls more than when the remaining term stays unchanged, but the monthly budget commitment remains close to its current level.
Lowering the payment keeps the remaining term and frees up monthly cash. Interest savings may be smaller. Choose with your cash reserve and ability to pay in mind, not just the saving displayed.
The combined option recalculates the payment for a term between the shorter scenario and the current term. The calculator automatically limits your requested term to this range. Check the term shown in the result.
How to read the estimate
- Enter the contractual nominal annual interest rate, not APR. Payments use monthly interest and keep the entered rate constant; future IRCC changes or the end of an initial fixed-rate period are not predicted.
- The calculation starts with the remaining balance and one early payment. It does not reproduce exact processing dates, daily interest, insurance or every contractual fee. The final instalment may be smaller.
- Prefilled figures are a calculation example, not a bank offer. Request the current schedule and bank simulations for the same amount and date.
- Refinancing is a separate decision: a new loan replaces the full balance, without the early payment used in the other scenarios. Include switching costs; a lower payment over more years does not guarantee a lower total cost.
- Negative savings mean additional cost in this model. Refinancing cost recovery is a simple division by the monthly payment difference, not a guarantee of total savings.
Early repayment explained and practical steps · Separate refinancing calculator
For consumer loans covered by OUG 50/2010, fixed-rate compensation uses the 1% cap above 12 remaining months or 0.5% at 12 months or less, additionally limited to estimated remaining interest. Variable-rate compensation is zero. The actual amount may be lower; check exceptions and your contract. OUG 50/2010, art. 67-69
The mortgage scenario assumes a contract covered by OUG 52/2016 and zero early-repayment compensation. Contract dates and transitional provisions matter; confirm the applicable regime with the lender before using the result. OUG 52/2016, art. 40-42
Local estimate, not a bank offer. Ask the lender for written simulations and the revised schedule.