Loan overpayment
Fixed-rate loan amortisation. See how much time and total interest you save by paying extra each month.
Open calculatorEffective annual rate (EAR)
EAR = (1 + nominal rate / n)^n − 1, where n is the number of compounding periods per year. A 12% nominal rate compounded monthly equals an effective annual rate of 12.68%.
Stated annual interest rate before intra-year compounding.
%
How many times interest compounds per year — 12 for monthly, 4 for quarterly, 365 for daily.
Effective annual rate (EAR)
12.68%
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The more frequently interest is compounded, the higher the effective annual yield or cost.
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Educational estimate only. Not medical, tax, legal or financial advice.