Extra Principal Payment Calculator
Step 
Primary calculation
Step 
Extra pay in the amount of future payments
Computed Amount of Future Payments
Projected Payments with no Prepayment
Estimated amounts taking into account early repayment
Difference between basic loan repayment and loan repayment with additional payments
About the calculation
This loan calculator is a tool designed to calculate amounts related to the early repayment of loan debt by making additional (extra) payments on top of the payments defined in the basic calculation (initial repayment plan).
Use the total loan amount calculator to see how much you can borrow based on affordable monthly payments.
With this calculator, you can complete the entire calculation in just two steps, taking into account extra payments toward the principal balance.
The first step allows you to make the initial loan calculation.
To do this, you need to enter the loan amount, the interest rate, and the loan term in months.
Then click the “Apply Step 1” button to perform the basic calculation of the monthly payment.
At this stage, the calculator will determine the initial monthly payment amount required to repay the debt.
The second step allows you to calculate early loan repayment by increasing the initial payments with additional monthly amounts.
For this, in Step 2 of the loan calculator, you need to enter the number of months remaining to repay the loan calculated
in Step 1 (the period during which you made payments without any extra amounts), as well as the additional sum you wish to add
to each monthly payment. If your lender charges a fee for the portion exceeding the initial payment, specify this fee as a percentage,
and it will be added to the new payment amounts. Perform the calculation of the updated loan payments
by clicking the “Apply Step 2” button.
After completing the calculation, you can compare the total repayment amounts for a standard annuity loan and a loan with early repayment. However, before making extra payments to repay your loan early, carefully review your loan agreement to ensure there are no restrictions or penalties for early repayment.