Free Repayment Calculator - Plan Your Loan Payoff
Calculate loan repayment schedules, see how extra payments accelerate payoff, and plan your debt-free date.
Quick Answer
Loan repayment uses the amortization formula. Each payment covers interest plus principal. Extra payments reduce principal faster, saving interest and shortening the term. Our calculator shows your repayment schedule.
Key Facts about Repayment Calculator:
- Each payment = interest + principal
- Early payments mostly interest, later mostly principal
- Extra payments go directly to principal
- Bi-weekly payments = 13 monthly payments/year
- Refinancing can lower payment or shorten term
- Calculate payoff to stay motivated
Why Use Our Repayment Calculator?
Repayment tools:
Payment Schedule
See every payment breakdown.
Extra Payment Impact
How extra payments help.
Payoff Date
When you'll be debt-free.
Interest Savings
Save with extra payments.
Instant Results
Get calculations immediately.
Private
Your data stays secure.
How to Repayment Calculator in 3 Easy Steps
Plan repayment:
Enter Loan Details
Balance, rate, payment.
Add Extra Payments
Optional additional amounts.
View Schedule
See full repayment plan.
Why Use Our Calculator?
Detailed schedules
Extra payment analysis
Clear payoff date
Interest savings
Common Use Cases for Repayment Calculator
Perfect for:
Frequently Asked Questions
Everything you need to know about our repayment calculator
How do I pay off debt faster?
Extra principal payments, bi-weekly schedule, refinance, or lump sum payoffs.
Make extra payments toward principal, use bi-weekly payments (26 half-payments = 13 full/year), refinance to lower rate, or use windfalls for lump sum payments.
What is amortization?
Fixed payments over time - early payments mostly interest, later mostly principal.
Amortization spreads loan repayment over time with fixed payments. Each payment covers interest on remaining balance plus some principal. Over time, more goes to principal.
Still have questions? Try the tool yourself!
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Free loan repayment calculator.
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