The Repayment Calculator can be used to find the repayment amount or length of debts, such as credit cards, mortgages, auto loans, and personal loans. It can be utilized for both ongoing debts and new loans.
• Repay within a fixed time: Finds the exact periodic installment required to clear your debt within a target number of years and months.
• Repay with a fixed installment: Determines how long it will take to eliminate your debt when making a specified regular payment.
Configure loan balance, interest rate, compounding, and repayment structure.
Paying $212.47 every month will completely eliminate your $10,000.00 debt in 5 years and 0 months (60 total payments).
Period-by-period breakdown of payment, principal, interest, and ending loan balance.
Whether repaying a mortgage, auto loan, or student debt, small adjustments to your repayment frequency and installment amounts create profound compound interest savings.
Switching from monthly to bi-weekly payments results in 26 half-payments per year (the equivalent of 13 full monthly payments), shaving years off a 30-year mortgage without stressing your budget.
Interest compounds continuously on credit cards and daily on student loans. Making payments early in your billing cycle reduces the average daily balance and lowers accrued interest.
If your fixed payment does not exceed the periodic interest charge, the unpaid interest is added to the principal balance, causing the debt to grow exponentially over time.
Calculate monthly mortgage payments, property taxes, PMI, and amortization.
Determine auto loan monthly payments, trade-in values, and sales taxes.
Calculate payoff timeline and total interest charges on credit cards.
Calculate fixed monthly loan payments and full amortization schedules.