Estimate your monthly payments and total interest costs
This chart compares your regular loan payment schedule with an accelerated payoff plan using extra monthly payments. Enter an amount and click "Calculate Early Payoff" to see the impact.
Regular Payoff Time
5 years
Early Payoff Time
4 years, 9 months
Regular Interest Cost
$24550.13
Early Payoff Interest
$23078.21
Total Interest Savings
$1471.93
| Year | Principal (A) | Interest (B) | Total Payment (A + B) | Balance | Loan Paid To Date |
|---|---|---|---|---|---|
| + FY26 | $8,106 | $4,350 | $12,456 | $91,894 | 8.11% |
| + FY27 | $17,343 | $7,567 | $24,912 | $74,551 | 25.45% |
| + FY28 | $18,970 | $5,940 | $24,912 | $55,581 | 44.42% |
| + FY29 | $20,749 | $4,161 | $24,912 | $34,831 | 65.17% |
| + FY30 | $22,697 | $2,213 | $24,912 | $12,134 | 87.87% |
| + FY31 | $12,135 | $320 | $12,456 | $0 | 100.00% |
Plan your finances with precision
Get precise payment estimates to incorporate into your budget
Understand the true cost of borrowing by seeing total interest and payment amounts
Compare different loan options with varying terms and interest rates
Export your amortization schedule as PDF or CSV for record-keeping
Choose the currency that matches your loan
Input amount, interest rate, term, and payment frequency
Click the "Calculate" button to generate your personalized analysis
Examine the results and download as PDF or CSV if needed
Compare APRs, not just interest rates - APR includes fees for more accurate comparison
Consider shorter loan terms - Higher payments but much less total interest
Make bi-weekly payments - Results in one extra payment per year, reducing total interest
Pay more than the minimum - Additional principal payments can dramatically reduce your loan term
How accurate is this loan calculator?
Our calculator uses industry-standard financial formulas to provide highly accurate estimates. Actual terms may vary based on lender-specific fees.
Can I calculate loans with variable rates?
This calculator assumes a fixed interest rate. For variable rates, estimate payments at different potential rates to understand possible ranges.
Does it account for fees and closing costs?
No, this calculator focuses on principal and interest payments. For a complete picture, add any loan fees to the loan amount before calculating.
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