Prepayment Savings Calculator
Enter your loan balance, rate, term, and monthly extra principal payment. We show how much interest you save and how much sooner you pay off the loan.
Calculate your payment
Enter values to calculate.
How it works
Extra principal reduces the balance faster, so less interest accrues. We recalculate payoff date and total interest with your extra payment.
When to use it
Use when deciding how much extra to pay each month or whether a lump sum is worth it.
Frequently asked questions
Should I pay extra every month or a lump sum?
Both reduce interest. Regular extra payments have a predictable effect; a lump sum reduces balance immediately.