Tools/Early Payoff Calculator
Loan

Early Payoff Calculator

Find out how much time and money you save by making extra payments on your loan. See the impact of even small additional amounts.

Early Payoff Calculator

See how much time and money you can save by making extra monthly payments on your loan.

Original loan amount before interest

Monthly add-on (flat) interest rate on the loan

Number of months in the original loan agreement

Additional amount you plan to pay each month on top of the regular installment

One-time fee included in the total loan cost

How This Tool Works

How It Works

The early payoff calculator shows the effect of adding extra payments to your regular monthly installment. With add-on (flat) interest, extra payments reduce the number of months — and therefore the total interest.

Formula

newMonthly = originalMonthly + extraPayment
newMonths = (principal + fee) / (newMonthly - principal × rate)
interestSaved = principal × rate × (originalMonths - newMonths)

Key Insight

Even small extra payments can save significant interest over time. For example, adding ₱500/month to a ₱100,000 loan at 0.99% for 24 months can save several months and thousands in interest.

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