Loan Repayment Calculator

Are you considering taking out a loan or paying yours off sooner? Repaying loans takes time, and our loan repayment calculator can show you how additional payments, larger monthly payments, and other factors can help you pay back loans quicker and reduce your interest expense.

This tool shows the amount of time it takes to repay a loan. If you make additional principal payments, you shorten the repayment period. You also reduce interest expense. Generally, you make prepayments if you have surplus cash or if your current cost of capital is lower. Since interest expense is tax-deductible, the after-tax interest rate should be considered when making a prepayment decision.