Loan Prepayment Calculator — Savings
Compare term and interest reductions when an extra amount is paid toward a remaining loan each month. The model keeps the scheduled payment, which differs from a product that recasts payments downward.
- Runs in your browser
- Nothing is uploaded
- No signup; device limits apply
Numbers stay on your device. Nothing is sent to a server.
How to use this tool
Enter the current balance, rate, remaining months and monthly extra. The extra reaches principal after interest is calculated; confirm how the real servicer allocates additional payments.
Results and examples
A zero-interest balance of 1200 over twelve months has a scheduled payment of 100. Adding another 100 each month shortens it to about six payments, but saves no interest because none was due.
Limitations
- Prepayment penalties, recasting and daily-interest methods are not included.
- The horizon is capped at 600 months, and real payment dates or minor-unit rounding can differ.
Fields
| Field | Guidance and constraints |
|---|---|
| Remaining balance | Accepted range: 1–100000000 · Input step: 100 |
| Annual interest rate | Accepted range: 0–50 · Input step: 0.01 |
| Months left | Accepted range: 1–600 · Input step: 1 |
| Extra each month | Accepted range: 0–100000 · Input step: 10 |
Data handling
Processing stays in the current browser tab; the site does not upload tool input for the calculation itself.
Sources
Frequently asked questions
Can a zero-interest loan save interest?
A zero-interest balance of 1200 over twelve months has a scheduled payment of 100. Adding another 100 each month shortens it to about six payments, but saves no interest because none was due.
Does extra payment automatically reduce the scheduled amount?
Prepayment penalties, recasting and daily-interest methods are not included. The horizon is capped at 600 months, and real payment dates or minor-unit rounding can differ.
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