Loan Payoff Calculator
Compare strategies to pay off a loan faster and save on interest.
Loading calculatorβ¦
See how this fits your bigger picture β Get your free score
You might also like
Compound Interest
See how money grows with monthly contributions, annual step-up and yearly top-ups.
SIP / Recurring
Calculate returns from monthly investments with step-up and full yearly breakdown.
Savings Goal
How long to reach a savings goal β or how much to save monthly to hit it by a date.
π‘ Expert Tips
Extra βΉ5,000/month on a 20-year loan can cut 5-7 years.
Apply windfalls and bonuses directly to principal.
Frequently Asked
How to pay off loan faster?βΎ
Pay extra towards principal, make bi-weekly instead of monthly payments, or apply lump sums.
π Explore related calculators
Compound Interest Calculator
Example 1 β Lump sum, no contributions
A = 1,00,000 Γ (1.10)^10 β βΉ2,59,374 β more than 2.5Γ growth