Personal Loan Extra Repayment Calculator
See how much extra repayments save you — compare interest cost and payoff time with and without extra payments.
Total amount borrowed.
Typical personal loan rates range 8–15%.
Most personal loans run 1–7 years.
Additional amount paid each month above the scheduled repayment.
Making extra repayments on your personal loan reduces both your total interest cost and the time it takes to pay off the loan. Even a modest extra amount — like $50 or $100 per month — can save hundreds or thousands in interest over the life of the loan.
Be aware that some fixed-rate personal loans charge early repayment fees if you pay off the loan ahead of schedule. Variable-rate loans are typically more flexible. Always check your contract before making large extra payments.
Run this alongside the personal loan repayment calculator to see your base repayment before adding extras.