Free Loan Repayment Calculators
Repaying faster is arithmetic, not willpower
Four calculators for the repayment side of a loan: the scheduled payment with fees folded into an APR, what a lump sum removes, whether to recast after one, and whether the money belongs on the debt at all.
Loan Repayment Calculator
Calculate the repayment on any instalment loan, with fees folded into an APR and the effect of paying more than the scheduled amount.
Result
Monthly repayment
$555
- Scheduled repayment
- $555
- APR including fees
- 13.25%
- Total interest
- $8,291
- Total cost of borrowing
- $9,041
- Total repaid
- $34,041
- Payments to clear
- 60 months
- Interest as a share of total repaid
- 24.9%
The APR shown treats the fee as paid out of the loan proceeds, which is the usual disclosure basis.
Add an extra payment amount to see how much interest a larger payment removes.
Yearly payoff summary
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $3,891 | $2,767 | $21,109 |
| 2 | $4,380 | $2,278 | $16,729 |
| 3 | $4,931 | $1,728 | $11,799 |
| 4 | $5,550 | $1,108 | $6,248 |
| 5 | $6,248 | $410 | $0 |
Read the full guide, worked examples and FAQ for this calculator →
Popular tools
The calculators visitors to LoanRepaymentTools open most often.
- Repayment
Loan Repayment Calculator
Calculate the repayment on any instalment loan, with fees folded into an APR and the effect of paying more than the scheduled amount.
Open calculator → - Repayment
Lump Sum Repayment Calculator
See what a one-off payment against the balance does: months removed, interest avoided, and the return on the money.
Open calculator → - Repayment
Mortgage Recast Calculator
Compare recasting a mortgage after a lump sum against keeping the existing payment: cash flow freed versus interest saved.
Open calculator → - Repayment
Overpay vs Save Calculator
Compare overpaying a loan against saving the same amount, measured on the same basis: debt removed versus pot accumulated.
Open calculator →
Every loan has one lever the borrower controls: the amount actually sent each month. Everything else - the rate, the term, the schedule - was fixed at signing. Pulling that lever produces effects that are easy to calculate and consistently underestimated.
These tools cover the decisions that follow. What an extra amount removes. What a windfall removes. Whether to recast after a lump sum or keep the old payment. And, for anyone with a low legacy rate, whether repaying early is the right use of the money in the first place.
Browse by category
Repayment
Overpayments, lump sums, recasts and clearing a loan early.
Why use LoanRepaymentTools
Fees folded into the rate
An origination fee is interest charged up front. The APR is what makes two offers with different fee structures comparable.
A guaranteed, calculable return
A lump sum against a balance removes interest with no market risk and no forecast. The tool reports both the interest avoided and the months removed.
Recast against keeping the payment
Recasting frees cash flow and costs interest. Keeping the old payment saves more and ends the loan sooner. Both are priced side by side.
The honest version of overpay-versus-save
Debt removed against an after-tax savings pot, over the same horizon - with the things arithmetic cannot settle stated rather than assumed away.
How it works
- Start with the scheduled repayment and the APR once fees are included.
- Test an extra monthly amount and a one-off lump sum separately.
- If cash flow is the constraint, compare a recast against simply overpaying.
- Before either, check the loan rate against what the money would earn after tax.
Frequently asked questions
Will overpaying reduce my monthly payment?
Usually not. On most loans the payment stays the same and the term shortens. Reducing the payment requires a recast or a refinance, which are different transactions.
Is a lump sum better than regular overpayments?
Per dollar, slightly, because it acts sooner. In practice regular overpayments are easier to sustain and the difference between the two is small compared with the difference between doing either and doing nothing.
What is a recast?
A lump sum followed by a recalculated payment over the same remaining term at the same rate. No underwriting, no new note, and a small fee rather than closing costs.
Should I overpay or save?
It depends on the loan rate against the after-tax savings rate, on liquidity, and on whether an employer-matched retirement contribution is available. The comparison tool shows one side of it; it is not advice.
Are prepayment penalties included?
No. They are uncommon on consumer loans but not unknown. If one applies, subtract it from the interest saved to get the net benefit.