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Early Loan Payoff Calculator

Our online tools will provide quick answers to your calculation and conversion needs. On this page, you can calculate your savings, both interest and no. of payments for fixed rate loans on early repayment.

Amount Borrowed:

Annual Interest Rate (%):

Loan Term (years):

Payments already made (months):

Extra payment:

Android: Use this loan calculator offline with our all-in-one calculator app.

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Early loan repayment

You can save on interest payment and loan tenure by extra payment or pre-payment on your loan.

The calculations on this page is based on the mortgage formula shown below:

Where,
P = principal amount borrowed,
c = periodic payment,
r = monthly interest rate, express as decimal (annual interest rate in % divided by 12, and divided by 100)
N = loan term in months

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