Early loan repayment

reduce the payment or the term — which saves more interest

Parameters

Balance, ₴

APR, %

Months left

Lump sum, ₴

What to reduce

Result

Payment: old → new9 663,00 ₴ → 9 663,00 ₴

Term: old → new120 → 91 mo

Interest: old → new659 534,00 ₴ → 429 313,00 ₴

Interest saved230 221,00 ₴

Shortening the term almost always saves more interest than lowering the payment, because the principal shrinks faster. In an annuity schedule early payments are mostly interest, so early repayment pays off most in the first months.

About Early loan repayment

Early loan repayment — lower payment vs shorter term — which saves more. Finance: Personal finance management. Use our tools without registration or installing software. All calculations happen in your browser — your data is never sent to a server.