Loan Overpayment Calculator
Find out how much you could save by paying more than the standard monthly payment off your loan!
Without overpayment
? years, ? monthsWith overpayment
? years, ? months- If the interest rate of your current product is not competitive you should strongly consider a consolidation loan at a better rate of interest. If you choose one that allows over-payment you will be able to overpay even more each month than you can with your existing product!
- Not all lenders allow over-payments, and some may charge a fee. You should take this into consideration before over-paying.
- Be aware that many lenders impose a percentage maximum on the amount you may overpay in any given year.
- These results should be taken as a guide only. Actual term reduction and interest savings may vary depending on how your lender calculates interest (daily, monthly, annually, etc.)