METHOD
How it is calculated
The extra payment reduces principal immediately. Interest accrues monthly on the remaining balance.
% Loans and personal finance
Early repayment calculator
Compare a lower payment and a shorter term after an extra principal repayment.
01
Your inputs
Starting values are an example. Replace them with your own.
Your inputs stay in your browser.
02
Your result
Enter your details and run the calculation.
TRACEABLE
Sources and validity
Basic arithmetic or geometry using the formula shown. Uses only your inputs.
How we maintain data ↗