Morning guys.. i would like to know whether is it advisable if i refinance my house to reduce monthly installment. Details as per below :

Bought in 2011
Buying price RM280k
Loan with Hong Leong Islamic RM257,858
Current valued at RM420k
Monthly Installment RM1277

I'm not too sure what is the interest rates, but it's written below in the letter :

Contracted Profit Rate (CPR) 10.60% per annum
Islamic Financing Rate 6.6% p.a.
Effective Profit Rate 2.30% p.a.

What you guys think? And i cant find anything about lock in period inside the t&c's.