Yes, you can have your personal loan refinanced. Refinancing a personal loan means taking out a new personal loan and making use of the funds to repay the old loan. The purpose of refinancing any loan is to save money, so a lower interest rate should be a feature of the new loan. You will retain the same amount of debt if you refinance but you will pay less interest per month, making the loan less costly in the long run. But you will need to check the cost of exiting your old loan. If there are early exit fees to pay, the cost could be high enough to make refinancing not financially worthwhile.