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Refinance savings calculator
Moving banks costs a few thousand dirhams. Put in your balance and the two rates to see whether the saving covers that, and how quickly.
You would save each month
AED 0/month
- Current payment
- New payment
- Early settlement fee (capped)
- All switching costs
- Fees paid back after
- Net saving over 5 years
- Net saving over the full term
Switching costs include the early settlement fee, new bank valuation, DLD mortgage registration and arrangement fee. Small admin charges are not included.
Questions about refinancing
The most common time to switch is when your fixed period ends and the loan moves onto your bank's variable rate.
What does it cost to move my mortgage?
The early settlement fee to your current bank, capped at 1% of the balance or AED 10,000, plus the new bank's valuation, Land Department mortgage registration and any arrangement fee. This calculator adds them up for you.
When is refinancing not worth it?
When the saving takes longer to cover the fees than you expect to keep the loan, or when your remaining balance is small. If the break-even point is more than 2 to 3 years away, it is usually better to wait or ask your bank for a better rate.
Can I shorten my term when I switch?
Yes. Some clients keep the same monthly payment and use the lower rate to clear the loan years earlier. Tell us which you prefer and we will run both.
See what other banks would charge you
Send us your balance and current rate. We come back with what the banks are offering to take the loan over.