Loan Extra Payment & Early Payoff Calculator
Calculate how much interest you'll save and how early you can pay off your loan with extra payments. Compare monthly regular extra payments versus one-time large payment options.
Related calculators
Back to Financial CalculationsBreak-Even Calculator
Calculate how much your business needs to sell to break even. Find the minimum sales volume and revenue required to cover your fixed costs.
Compound Interest Calculator
Calculate compound interest with lump sum investments and regular contributions
Payment Calculator
Free loan calculator to find the monthly payment or the total term of a loan. See a detailed amortization schedule showing the breakdown of principal and interest payments over time.
VAT Calculation
Easily find the VAT-inclusive price from the base amount, or the base amount and VAT from a gross price with our VAT calculator. Quick calculations with 1%, 10%, 20% rates.
How Does Loan Extra Payment Work?
Every extra payment you make goes directly toward your principal balance, reducing future interest calculations. This can significantly reduce both the total amount of interest you'll pay and the length of your loan term.
Monthly extra payments provide consistent savings, while one-time large payments can create more dramatic effects. Our calculator analyzes both options to help you determine the best strategy for your situation.