The Extra Repayments Calculator calculates the time saved to pay off the loan and the amount of interest saved if repayments are increased by the entered amount of extra contribution per repayment period after the loan has been in force for the entered number of years. The calculation is done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas.Calculator © InfoChoice 2010