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DAILY APPS KIT TOOLS

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Loan Prepayment Calculator

Compare extra monthly and one-time loan payments, interest savings and payoff time. Download an amortization schedule.

About this tool

Compare extra monthly and one-time loan payments, interest savings and payoff time. Download an amortization schedule.

How to use this calculator

  1. Enter principal, fixed annual rate, remaining term and additional payments, then compare schedules.
  2. Review the result and assumptions. Download the result for your records.

Example

A zero-interest loan of 1,200 over 12 months pays off in 6 months with an extra 100 per month.

Supported options and limitations

Monthly fixed-rate amortization only. Amounts round to two decimal places. Excludes fees, penalties, escrow and variable rates.

Common questions

Does this calculator upload my financial data?

No. Calculations run locally in your browser.