The Loan Payoff Calculator shows your monthly payment, total interest and full amortisation schedule for any loan. See exactly how much extra payments save you and when you'll be debt free.
Frequently Asked Questions
How does making extra payments help?
Extra payments reduce your principal faster, which reduces the interest charged on future payments. Even small extra amounts can save thousands over the life of a loan.
What is an amortisation schedule?
A table showing every payment over the life of the loan — how much goes to interest vs principal each month, and the remaining balance after each payment.
Should I make extra payments or invest the money?
Compare your loan interest rate to expected investment returns. If your loan is at 6% and investments return 8%, investing may win. If the loan is at 8%+, pay it off first.