Loan overpay
Fixed-rate amortisation. See what an extra monthly payment saves in time and interest.
Open a calculatorDebt payoff
Months come from the ordinary amortisation formula. If the payment does not cover the first month of interest the page stays empty. Fees and a changing APR are not modelled.
What you still owe today — the balance on your statement, not the original loan amount.
What you still owe today — the balance on your statement, not the original loan amount.Annual percentage rate (APR) — the yearly interest cost; the calculator converts it to a monthly rate.
Annual percentage rate (APR) — the yearly interest cost; the calculator converts it to a monthly rate.%
A fixed payment each month — it must beat the first month's interest or the balance never shrinks.
A fixed payment each month — it must beat the first month's interest or the balance never shrinks.Months to clear
31.6
Interest still to pay
3,941
Paid in total
18,941
Months to clear: 31.6
A payment below the monthly interest never finishes. That is the formula, not a threat.
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An educational estimate. Not medical, tax or credit advice.