Mortgage refinancing calculator (Romania)
Put your current loan next to one or more refinancing offers and see what you gain: a lower payment or the loan paid off sooner.
- Free, no account
- Your data stays in your browser
- Compare up to 6 offers
Existing loan
The monthly payment is what your bank app shows, insurance included (in the schedule: “Amount to pay”). You'll find the insurance as “Insurance premium”; enter it in RON or as a monthly % of the balance. The first-installment date shows how many fixed-rate months are left. Leave the fixed rate empty if you want me to infer it from balance, term and payment.
What do you want from refinancing?
IRCC changes quarterly: it starts from the value above and the installment is recalculated at each change. It also applies to the existing loan, after its fixed-rate period.
Export and share
The code contains the calculator data (balance, installment, offers). Send it and the other person pastes it below.
How the refinancing calculator works
The calculator compares the loan you have now with one or more refinancing offers, in RON, on the same assumptions. You work in four steps:
- Existing loan. Enter the remaining balance, the remaining term, the monthly payment from your bank app (insurance included), the current fixed rate, the fixed-rate period and the margin over IRCC. From the date of your first paid instalment it works out how many fixed-rate months are left.
- Offers. Add up to 6 offers side by side: fixed rate, fixed-rate period, margin over IRCC, one-time costs, new loan term and life insurance.
- Goal. Choose “Lower payment” (the term stays, the payment changes) or “Keep payment” (the total monthly payment stays, the term gets shorter). You can also pick an IRCC scenario: constant, falling, rising or custom.
- Result. See the monthly payment, total savings, break-even point, retention threshold, savings charts and the yearly amortization table. You can export to Excel or CSV.
Worked example: refinancing 250,000 RON over 20 years
Example for a loan of 250,000 RON with 20 years left, currently in its variable period: IRCC 5.57% plus a 2.50% margin, a 8.07% rate. Two refinancing offers, each with 1,500 RON of one-time costs, computed with the same engine as the calculator, with IRCC constant at 5.57% (the value in force from 1 October 2026).
| Current loan | Offer A | Offer B | |
|---|---|---|---|
| Interest rate | 8.07% variable (IRCC + 2.50%) | 5.49% fixed for 5 years, then IRCC + 2.00% | 4.89% fixed for 3 years, then IRCC + 2.50% |
| Monthly payment (no insurance), during the fixed-rate period | 2,102.00 RON | 1,718.31 RON | 1,634.74 RON |
| Monthly payment (no insurance), after the fixed-rate period | 2,102.00 RON | 1,959.13 RON | 2,041.01 RON |
| Total interest paid to the end | 254,481.08 RON | 205,742.01 RON | 225,216.54 RON |
| One-time costs | 0 RON | 1,500 RON | 1,500 RON |
| Total savings vs. the current loan | - | 47,239.07 RON | 27,764.55 RON |
| Break-even point | - | month 4 | month 4 |
Reading it: offer A drops the rate to 5.49% for 5 years and has a lower margin, so it saves over the whole loan (47,239.07 RON after costs). Offer B lowers the rate for only 3 years, then goes back to today’s margin: the gain comes from the fixed period (27,764.55 RON in total). If IRCC rises after the fixed period the result changes, which is why the calculator has IRCC scenarios.
Indicative example with simplified assumptions. It is not an offer and ignores taxes and other bank conditions.
What the terms in the calculator mean
- Fixed rate
- The interest rate stays constant during the fixed-rate period in the contract. After that, RON loans with a variable rate use the IRCC plus margin formula.
- IRCC
- The consumer credit reference index, calculated by the National Bank of Romania (BNR) and published quarterly. On variable-rate RON loans the interest is IRCC plus the margin set by the bank.
- Margin
- The part of the variable rate set by the bank in the contract, added on top of IRCC. A lower margin means a lower variable rate at the same IRCC.
- Total monthly payment
- What you actually pay the bank each month: the loan instalment plus life insurance. It is what your bank app shows, so the calculator works with this value.
- Retention threshold
- The fixed rate at which staying with your current bank costs the same as the offer. Use it in negotiation: if your bank offers a rate below the threshold, you can stay without refinancing.
- Break-even point
- The month from which cumulative savings, including the one-time refinancing costs, stay positive.
How it is calculated: methodology
- The monthly interest is the annual rate divided by 12; insurance is a percentage of the balance at the start of the month or a fixed amount in RON.
- The existing loan is modelled from its real schedule, not a theoretical annuity: a fixed rate for a number of months, then IRCC plus margin.
- In the variable period the instalment is recalculated over the remaining months at each rate change; in IRCC scenarios the index changes quarterly.
- “Keep payment”: the term follows from the total monthly payment you keep, at the offer’s fixed rate; after the fixed period the instalment is recalculated over the remaining term.
- One-time costs are paid upfront and count in the savings. Early repayment penalties are not modelled separately; if your bank charges any, add them to the one-time costs.
- Results are estimates: they can differ from the bank’s by a few lei because of rounding and the way days are counted.
Frequently asked questions about mortgage refinancing
When is it worth refinancing a mortgage?
It is worth it when cumulative savings exceed the refinancing costs within a period that suits you, that is, after the break-even point. Three things matter: how much the rate drops during the fixed period, what happens after it (the offer’s margin versus your current margin) and how large the one-time costs are. The calculator puts them all next to your current loan and shows the total savings and the break-even month.
Is there a fee for repaying a mortgage early?
For consumer mortgages, Government Emergency Ordinance 52/2016, art. 41(3), states that the lender may not apply penalties, charge compensation or require other costs on early repayment. This is the text as published in the Official Gazette no. 727 of 20 September 2016; check the current version of the act and the clauses of your own contract.
What does refinancing cost?
You may face property valuation costs, notary and land-registry fees for the new mortgage, a file analysis fee and new insurance. Amounts differ from bank to bank, and some offers cover them in part or in full. Add them up and enter the total under “One-time costs” for each offer.
What is the difference between “Lower payment” and “Keep payment”?
With “Lower payment” the loan term stays the same and the monthly payment changes. With “Keep payment” the total monthly payment, insurance included, stays the same and the loan is paid off sooner. Choose according to what you want from refinancing: more free cash every month or less interest paid overall.
What is the retention threshold and how does it help?
It is the fixed rate at which staying with your current bank costs the same as the refinancing offer. If your bank offers a fixed rate below this threshold you no longer need to refinance; if its proposal is above the threshold, the new offer is still better. Use it as an argument when you talk to your bank.
How does IRCC affect my instalment after the fixed-rate period?
After the fixed period the rate is IRCC plus the contract margin, so your instalment moves with the index that BNR publishes quarterly. The calculator has scenarios for IRCC constant, falling, rising or custom, so you can see how sensitive your savings are to this variable.
Is my data sent anywhere?
No. The calculation runs in your browser, and the site has no account, forms or database. The values you enter are saved only in your browser (localStorage) so you find them on your next visit, and you can erase them at any time with the “Reset” button.
How accurate is the calculator?
It is an indicative tool. It uses your loan’s schedule rather than a theoretical formula, but the result can differ from the bank’s by a few lei because of rounding and the way days are counted. Final figures depend on the bank’s written offer.
Sources and references
The figures and rules on this page are based on official sources:
- BNR: consumer credit reference index (IRCC)
- Government Emergency Ordinance 52/2016 on credit agreements for consumers related to residential immovable property (Legislative Portal, in Romanian)
- Directive 2014/17/EU on credit agreements for consumers relating to residential immovable property (EUR-Lex)
- ANPC: National Authority for Consumer Protection (Romania)
Need a custom financial tool?
The calculator is built by Rammer Tech, a team that develops web applications, enterprise systems and custom calculation tools for businesses.