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.
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.