Compare Your Home Loan with the Rate Challenge Calculator
Australia’s most advanced refinance calculator — 35+ lender interest rates, updated daily
See your current bank versus the market in seconds. Get today’s indicative rates, repayments, and monthly savings — shown for both your remaining term and a fresh 30-year term.
- Fast — about 30 seconds
- Two term views (Remaining & 30-year)
- No credit score impact
- Daily rate refresh
The Rate Challenge
Calculate your repayments
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Rates current at: — | Benchmarks shown for a $500,000 loan (indicative only).
Rate source: workbook provided — current as at 04/09/2025. Benchmarks are best-seen rates per LVR and rate type; actual pricing varies by product, borrower profile, and features. We do not act for any bank named in your inputs.
Rate source: workbook provided — current as at 04/09/2025. Benchmarks are best-seen rates per LVR and rate type; actual pricing varies by product, borrower profile, and features. We do not act for any bank named in your inputs.
This tool is indicative only. Any rate shown is not an offer of credit. Final pricing requires a full application, assessment and lender approval.
Refinance Calculator – How-To & FAQs
Everything you need to get the most from your Rate Challenge
Short how-to steps, then grouped FAQs covering lenders, rates, features, costs, scenarios, timing, and privacy.
📊 About the Calculator
How does the Rate Challenge calculator work?
It compares your entered rate to a benchmark for similar loans at your LVR and rate type, then shows monthly repayments and estimated savings for keeping your remaining term or restarting a 30-year term. You’ll also see a simple rating and a gauge of where your rate sits.
Does it use real rates?
It uses a current benchmark snapshot shown on the page under Rates current at:. Check that timestamp for freshness.
Are results personalised to my inputs?
Yes. It uses your balance, current rate, property value (for LVR), start month/year, original term, postcode, occupancy (OO/INV), repayment type (P&I/IO) and rate type (variable or fixed 1–5 yrs). If you enter your current repayment and frequency, the tool compares against that too.
Will using it affect my credit score?
No — using the calculator doesn’t trigger a credit check.
How accurate are the savings?
They’re indicative. Outputs are based on your figures and the benchmark snapshot. Final pricing requires a full application, assessment and lender approval.
Do you show monthly and longer-term savings?
Yes — it shows the monthly difference, with an annualised figure and an estimate over your remaining term. Fees/charges aren’t included in these quick estimates.
“Remaining term” vs “new 30-year term”?
Keep your term retains your current payoff timeline. Restart 30 years lowers repayments by spreading them over longer, which can increase lifetime interest unless you keep paying extra.
P&I vs Interest-Only?
Both are supported. Interest-Only repayments are lower while in the IO period but can increase total interest over time.
🧰 How-To: Using the Calculator
1) Gather the few details we need
Balance, current rate, property value, start MM/YYYY, original term, postcode, occupancy, repayment type, rate type. Optional: current repayment (weekly/fortnightly/monthly) and your current lender.
2) Check the timestamp
Look for Rates current at: on the results panel — that’s the snapshot used.
3) Enter your figures
As you enter balance and property value, your LVR updates automatically.
4) Read the two term views
Compare savings and repayments for keeping your term vs a new 30-year term.
5) Use the rating & gauge
Your rate is compared to a benchmark for similar loans at your LVR and rate type. The badge and gauge indicate how it stacks up.
6) Variable or fixed?
Choose Variable or Fixed 1–5 years. Fixed options lock your rate for that period and may involve break costs if you change early.
7) Begin your Rate Challenge
Press Talk to a Broker – Begin My Rate Challenge in the results to share your details so we can confirm options with fees and product features.
🏦 Lenders & Rates
Which lenders are included?
A wide range of major and reputable banks and non-banks — e.g., ANZ, CBA, NAB, Westpac, Macquarie, ING, Bendigo, Suncorp, HSBC, Bankwest, Great Southern Bank, and more.
Are the Big Four included?
Yes — ANZ, CBA, NAB, and Westpac.
Does it support fixed and variable?
Yes — Variable and Fixed 1–5 year options.
How is the benchmark chosen?
By your LVR band and rate type (variable or the fixed term you select).
⚙️ Loan Features & Terms
What is LVR and why does it matter?
LVR = loan balance ÷ property value. Your comparison uses LVR bands, so LVR can influence the benchmark you’re compared to.
Test different amounts/terms?
Yes — changing balance, start date or original term updates the results.
Change repayment frequency?
You can enter your current repayment as weekly/fortnightly/monthly; the calculator converts it to a monthly figure for comparison. Outputs are shown monthly.
Are features like offset/redraw included?
No — the quick comparison focuses on rate-driven repayments and savings.
📈 Using Your Results
Is refinancing “worth it” according to the tool?
You’ll see monthly, annualised and remaining-term savings against the benchmark. Use this as a guide only — it’s not a final offer.
What should I do next?
Press Talk to a Broker – Begin My Rate Challenge to start a fee-inclusive, product-fit review.
Is approval guaranteed?
No — this is indicative only. Final pricing requires a full application, assessment and lender approval.
Do you charge a broker fee?
No broker fee for standard home loans.
💸 Costs & Fees
Are fees, charges or LMI included in the quick view?
No — the estimates focus on rate-driven repayments/savings. Fees, government charges and any LMI aren’t included here.
What about fixed-rate break costs?
If you’re on a fixed rate and change early, break costs may apply. This calculator doesn’t compute them.
🧩 Eligibility & Special Scenarios
Owner-occupied and investment — are both supported?
Yes. Choose Owner-occupied or Investment before you calculate.
Split loans?
Not modelled in this tool.
⏱️ Process & Timing
After I hit “Talk to a Broker”
A short contact form appears (name, mobile, email). Once submitted, we’ll call you back; outside business hours we’ll be in touch before 10am next business day (AEST).
Mobile friendly?
Yes — the page is responsive and optimised for mobile use.
🔒 Privacy & Support
Do I need personal details to get results?
No — you only share contact details if you choose to submit the form for help.
Is anything shared with lenders when I calculate?
No — using the calculator doesn’t share your information with lenders. If you want to proceed, we’ll discuss next steps first.
Speak with a broker?
Use the results button or call 0407 908 024 • admin@ratechallenge.com.au.