Loan

Loan Payoff Calculator

See how extra payments help you pay off loans faster

Interest SavingsTime SavedExtra Payments

Disclaimer

This calculator is for educational purposes only. Results are estimates based on your inputs. Consult a qualified financial advisor for personalized advice. Read full disclaimer

Enter Loan Details

Loan Balance ($)

Interest Rate (%)

Remaining Term (Years)

Extra Monthly Payment ($)

Extra Yearly Payment ($)

Extra Payment Impact

How extra payments reduce loan term and interest

Savings = Original\ Interest - New\ Interest

Where:

Savings

Total interest saved

Original Interest

Interest without extra payments

New Interest

Interest with extra payments

Example:

Adding $100/month to a $20,000 loan can save thousands in interest

Related Calculators

Loan Payment Calculator

Calculate monthly payment

Debt Snowball Calculator

Multiple debt strategy

Refinance Calculator

Should you refinance?

📚 Learn About Loan Payoff Strategies

Become debt-free faster with smart strategies.

Browse Learning Resources →