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🏁 Loan Payoff Calculator

Find out how much time and money you save by making extra payments on your loan.

With Extra Payments, Paid Off In
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Original Payoff Time
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Time Saved
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Interest Without Extra
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Interest With Extra
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Total Interest Saved
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New Monthly Payment
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Loan balance over time
Original pace With extra payments

How this is calculated

Making extra payments on a loan pays down principal faster, which reduces the balance interest is charged on. Even small extra amounts compound into big savings. This calculator shows you exactly how many months you'll shave off your loan and how much interest you'll avoid paying.

Recommended — Want a lower rate?

Refinancing could save you even more

Combine a lower rate with extra payments and your savings can multiply. Compare rates free.

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