Loan Payoff Calculator
Making extra repayments on a loan or mortgage not only shortens the term, it also saves significant interest — because you pay interest each month on a lower remaining balance. This calculator simulates both scenarios accurately: with and without the extra repayment.
結果
6j 0mnd
Time saved
- Interest saved
- ￥29,075.98
- New payoff time
- 228 mnd
How this was calculated
- 1Simulate payoff without extra amount￥1,033.71/mnd = 300 mnd
- 2Simulate payoff with extra amount￥1,233.71/mnd = 228 mnd
公式
Monthly interest = Remaining balance × (annual rate ÷ 12 ÷ 100). Time saved = difference in months between both scenarios.
Rather than one formula, this calculator simulates month by month: each month interest is calculated on the remaining balance, the repayment (with or without extra) is applied, and the balance falls. This process is simulated twice — once without and once with the extra amount — and the difference shows the real savings.
ステップ解説
- 1Enter your remaining loan balance.
- 2Enter your annual interest rate (as a percentage).
- 3Enter the remaining loan term in years.
- 4Enter the extra monthly repayment you can afford.
計算例
EUR 200,000 remaining, 3.8% rate, 25 years, EUR 200 extra per month
→ About 5 years and 8 months shorter, over EUR 20,000 less interest.
EUR 150,000 remaining, 2.5% rate, 20 years, EUR 500 extra per month
→ About 4 years shorter, about EUR 7,000 less interest.
EUR 300,000 remaining, 4.2% rate, 30 years, EUR 300 extra per month
→ About 6 years shorter, about EUR 35,000 less interest.
Reference table
| Extra monthly | Years saved | Interest saved |
|---|---|---|
| EUR 100 | 2-3 years | EUR 5,000-10,000 |
| EUR 250 | 4-6 years | EUR 12,000-25,000 |
| EUR 500 | 6-10 years | EUR 25,000-50,000 |
Values are approximate based on typical mortgage conditions; actual savings depend on your specific loan.
よくある間違い
- Thinking extra repayment is always the best choice, without considering alternative investments.
- Forgetting to check if your loan allows early repayment or charges penalties.
- Confusing the calculation with actual bank statements due to interest accrual differences.
活用シーン
- Determining if extra repayment is wise given your household budget.
- Comparing how annual bonuses can best be used: repayment or savings.
- Gaining insight into your financial flexibility and debt-free timeframe.
よくある質問
Is extra repayment always the best choice?
Not necessarily. If your loan has a low rate and you could earn a higher expected return elsewhere (for example investing), that may be more attractive. It depends on your interest rate, risk tolerance and tax situation.
Does the calculator account for early repayment fees?
No, this is a basic calculation. Always check your loan agreement or contact your bank to verify early repayment fees and any penalties.
Was this calculator helpful?