Plan your path to debt freedom with personalized calculations
Find out exactly how much time and money you can save by making extra loan payments. Create a clear plan to become debt-free faster with our intuitive calculator.
Calculate Your SavingsInput your loan details to see how extra payments can help you pay off debt faster and save on interest costs.
Monthly Payment
$0.00
Total Interest
$0.00
Total Cost
$0.00
Repayment Time
0 months
Adjusted Payment
$0.00
Total Interest
$0.00
Total Cost
$0.00
Repayment Time
0 months
Interest Saved
$0.00
Time Saved
0 months
Our calculator uses standard loan amortization formulas to show you exactly how extra payments affect your repayment timeline and interest costs.
Input your loan amount, interest rate, loan term, and any extra monthly payment you plan to make.
Our calculator will show you both standard repayment and how extra payments affect your loan payoff timeline.
Use the results to create a repayment strategy that helps you become debt-free faster and save money.
Find answers to common questions about loan payoff strategies and our calculator.
It uses standard loan amortization formulas to show your regular monthly payment, then calculates how extra payments reduce your principal faster, shortening your loan term and lowering total interest costs.
Absolutely! This calculator works for all types of installment loans, including auto loans, personal loans, student loans, and mortgages.
The amount you can save depends on several factors including the loan amount, interest rate, loan term, and the size of your extra payments. Our calculator will show you exactly how much time and money you can save based on your inputs.
It's generally best to make extra payments as early as possible in your loan term. This reduces the principal balance faster, which means less interest accrues over time. However, any extra payment, regardless of when it's made, will help you pay off your loan faster.
Start planning your debt-free future today. See exactly how much time and money you can save with extra loan payments.
Get Started Now