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Loan Reduction

This calculator is designed to help you work out how quickly you can pay off a loan if you increase your monthly repayments and how much interest you would save by doing this. Please follow the steps below:

  1. Enter the outstanding loan amount, the original term of the loan and the interest rate being charged.
  2. Click the first button below to calculate the monthly repayments based on the original term of the loan.
  3. Enter the additional monthly repayment amount you wish.
  4. Click the second button below to calculate your reduced loan term and the interest saving.
ENTER DETAILS HERE
Loan Amount
Original Term  
Interest Rate  

 

Monthly Repayment
Additional Monthly Repayment
RESULT
Your reduced loan term will be  
You will save in interest.