---
title: "Refinance Calculator NZ: Saving & Payback | Compare Loans"
description: "Refinance calculator NZ: moving $500,000 from 5.19% to 4.99% fixed saves $13 a week and pays back $1,030 of costs in week 77. Rates checked 21 Oct 2026."
canonical: https://compareloans.co.nz/refinance-calculator/
source: Plain-text copy of https://compareloans.co.nz/refinance-calculator/. The HTML page is the original and has the live calculators and the enquiry form.
---

# Refinance calculator NZ

See what a lower rate saves each week, what moving costs, and the week the saving has paid for the move.

## When does switching pay?

When the weekly saving has covered the cost of moving before your new fixed term ends. On $500,000 with 25 years left, paid weekly, the new bank's legal service has you ahead in week 3. With your own lawyer it takes 77 weeks, and breaking a fixed rate or repaying cashback can take years.

| Your situation | Saving each week | Cost to switch | Pays back in |
| --- | --- | --- | --- |
| Fixed term ended, your own lawyer | **$13** | $1,030 | Week 77 |
| Fixed term ended, the new bank's legal service | **$13** | $40 | Week 3 |
| Breaking a 5.79% fix with 12 months left | **$55** | $5,030 | Week 92 |
| Repaying $2,500 of cashback | **$13** | $3,530 | Week 262 |

Estimate only, not a quote or an approval. Your rate depends on your credit and the lender. Rates checked 21 Oct 2026.

## Questions about refinancing

### Is refinancing worth it for 1%?

Usually, yes. On $500,000 with 25 years left, going from 5.99% to 4.99% saves $69 a week and pays back $1,030 of costs in week 15. After a 1-year fix you'd be $2,547 ahead.

### How much does it cost to refinance in NZ?

About $1,030 in legal and discharge fees once your fixed term has ended: $990 for a lawyer and $30 to $100 for your old bank's discharge fee. A break fee, a valuation or a cashback clawback comes on top. BNZ and Kiwibank offer eligible borrowers a legal service, which leaves only the discharge fee.

### How do I find out my break fee?

Ask your bank in writing; ANZ and BNZ give an estimate on request. You pay one only if rates have fallen since you fixed. TSB's own example is about $750 when rates fall 0.50% on $100,000 with 18 months left.

### Do I have to pay back my cashback if I switch?

Often, yes, if you leave within the bank's clawback period: 36 months pro rata at ASB and 4 years at Kiwibank. Put the amount in the cashback box to see how far it pushes out your payback week.