Prepayment calculator
Pay part of a loan early, and see ending sooner beside paying less each month. Free, with no account or uploads.
Pay part of the loan early
The lump sum is on; set its amount and the payment it follows under More options.
An example to start from; type your own.
With these numbers
$1,896.20 a month for 30 years
Interest adds $382,637, about the same as 202 of the payments. From month 233, more of each payment goes to the loan than to interest.
The dashed line is month 233, where more goes to the loan than to interest.
Show the numbers as a table
| Year | To the loan | Interest |
|---|---|---|
| Year 1 | $3,353 | $19,401 |
| Year 2 | $3,578 | $19,177 |
| Year 3 | $3,817 | $18,937 |
| Year 4 | $4,073 | $18,681 |
| Year 5 | $4,346 | $18,409 |
| Year 6 | $4,637 | $18,118 |
| Year 7 | $4,947 | $17,807 |
| Year 8 | $5,279 | $17,476 |
| Year 9 | $5,632 | $17,122 |
| Year 10 | $6,009 | $16,745 |
| Year 11 | $6,412 | $16,343 |
| Year 12 | $6,841 | $15,913 |
| Year 13 | $7,299 | $15,455 |
| Year 14 | $7,788 | $14,966 |
| Year 15 | $8,310 | $14,445 |
| Year 16 | $8,866 | $13,888 |
| Year 17 | $9,460 | $13,294 |
| Year 18 | $10,094 | $12,661 |
| Year 19 | $10,770 | $11,985 |
| Year 20 | $11,491 | $11,263 |
| Year 21 | $12,261 | $10,494 |
| Year 22 | $13,082 | $9,673 |
| Year 23 | $13,958 | $8,797 |
| Year 24 | $14,893 | $7,862 |
| Year 25 | $15,890 | $6,865 |
| Year 26 | $16,954 | $5,800 |
| Year 27 | $18,089 | $4,665 |
| Year 28 | $19,301 | $3,453 |
| Year 29 | $20,594 | $2,161 |
| Year 30 | $21,978 | $782 |
Each month's interest is rounded to the cent, half up, and the last payment pays what is left, so your lender's schedule may differ by a few cents.
Paid on top of every payment, straight off the loan.
For the APR: the yearly rate with the fees counted, as US Regulation Z and India's Key Facts Statement work it out.
A little help along the way
Follow these steps. Every option is explained underneath. Everything runs in your browser; nothing is sent anywhere.
- Say what you are working outA home, car or personal loan, paying off a card, or checking an offer.
- Type the amount, the rate and the termThe page starts with an example; type your own.
- Read the answerThe payment and the interest in words first, then the chart and the schedule.
- Download the scheduleAs CSV, a spreadsheet or a PDF.
Questions people ask
- What are the two choices?
- Keep paying the same and end sooner, or keep the end date and pay less each month; both are shown with their interest.
- Is there a prepayment charge?
- Lenders' rules differ; the page assumes none, so check your loan's terms.
- Is this financial advice?
- No. It is arithmetic on the numbers you type; rates, fees and rules differ by lender and place, so check your own papers.
This page is the Loan calculator, opened for this one job; every other tool it has is one press away. Each of its settings is explained on the Loan calculator's own page.
Read the step-by-step guideKeep going
Guides
- Should I reduce my EMI or tenure when prepaying?
- How much does a loan really cost?
- How is EMI calculated? The formula with an example
- Home loan EMI: how much interest will I pay?
- How much will a car loan cost me each month?
- Personal loan EMI and interest: how much will I pay?
- How is a mortgage payment calculated?
- How much sooner will extra payments pay off my mortgage?