Early Payoff Calculator
Practical tip: extra payments attack principal directly. Even small ones can shave months — and real money — off your loan.
Run your numbers
Original schedule
With extra payments
How to use this tool
Enter your current loan balance (what you owe now, not what you borrowed), the rate, and the original term in years.
Enter the extra amount you could pay each month. Be honest about what your budget can sustain — consistency beats ambition here.
Press Calculate to see months saved and interest saved versus your original schedule, side by side.
Before you commit, check for prepayment penalties. Some loans charge a fee for paying off early — our guide explains what to look for in your agreement.
Keep reading: borrower guides
How Do Loan Payoff Calculators Work? A Borrower’s Guide
What Is a Loan Prepayment Penalty and How Does It Work?
Can You Pay Off a Personal Loan Early?
Estimates only, not financial advice. Check final terms with your lender.