Early Payoff Calculator
See interest saved and months shortened by extra payments.
How this calculator works
Each period, interest = outstanding balance × monthly nominal rate. Extra and lump payments reduce principal before the following month.
Calculation assumptions
Regular payment stays unchanged; prepayment shortens the remaining term. Recasting is not assumed. The fee reduces net savings but not loan principal.
Example
Paying $200 extra each month on a loan can shorten repayment, but the exact savings depend on your outstanding balance and rate.
For planning only. Not financial advice or a lender quote.
Frequently asked questions
Are my financial numbers stored or sent to your server?
No. Inputs remain in browser memory. Only language, currency, theme and recently used calculator IDs may be saved on this device. Exports are created locally.
Why can a lender’s quote differ?
Our calculations use the assumptions shown here. A lender may apply different dates, daily interest, fees, taxes, insurance or rounding.
Can I select a different currency?
Yes. Currency selection changes only the symbols and number formatting; no exchange-rate conversion occurs.