iInvestor: Calculators/Homeloans/Does refinancing make sense?

Does refinancing make sense?

Switching to a lower interest loan doesn’t always save money. What you gain through a lower interest could easily be eroded by the penalty on pre-paying the earlier loan and the processing charges on the new loan. Use this calculator to check when it makes sense.

Details of existing loan

Penalty on prepayment (%)
Loan tenure	years
Years to go	years months
Interest rate (%)
Interest calculated on
If you haven't prepaid, as yet : Your original Loan Amount (Rs)
If you have prepaid part of the loan, Principal outstanding (Rs) EMI (Rs)

Details of new loan

Interest rate (%)
Loan tenure	years
Processing fee (%)
Interest calculated on