Looking to refinance your personal loan to save money? Compare refinance loans from Australian banks and other lenders with Mozo and see what your new monthly repayments could be if you refinance to a cheaper loan.Read more
Absolutely! Essentially, refinancing a personal loan means that you pay off the old loan with funds from a new one - and if you do it right, the new one will suit your lifestyle better by saving you money on interest and fees, allowing you to make lower monthly repayments or giving you a chance to borrow extra funds.
But just how do you refinance your personal loan? The good news is, it’s not as hard as you might think. The first step is knowing what you owe on your current loan and what you’re looking for in your new one - lower repayments? To pay less interest overall? With that done, you can start looking for a new personal loan that suits your needs. And to make it super easy, why not take our personal loan refinance calculator for a whirl.
The features you should search for will depend a lot on what you’re aiming for by refinancing, but generally speaking, you’ll probably be looking for a low interest rate, low or no fees, and some handy features like the option to make free extra repayments. Whatever you're after, get started comparing features for your refinance personal loan like interest rate, fees and repayment options in our table below.
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How much could you save by switching your personal loan? Compare savings from over 200 personal loans. Find out in a few clicks.