Loan Payoff Calculator
See how much sooner you'd be debt-free — and how much interest you'd save — by adding extra monthly payments to any loan (car, student, personal, or otherwise).
Free Online Tools
See how much sooner you'd be debt-free — and how much interest you'd save — by adding extra monthly payments to any loan (car, student, personal, or otherwise).
Your regular monthly payment is calculated from the balance, rate and term you enter (the standard fixed-payment amortization formula) - the extra payment is then added on top of that every month, going entirely toward the principal, which snowballs into paying off the loan faster and paying less interest overall.