The Extra Repayment Simulator allows you to calculate what savings you can make on Interest and the life of your loan by making addition loan repayments.
Extra Repayments Simulator - Step by Step Guide
This Extra Repayment Simulator tool shows you the amount of time and money you can save on an existing loan if you made additional repayments. Another quick and easy to use tool to help you calculate savings on loans.
- You begin by entering your loan details including the loan amount, interest rate, loan term and repayment frequency.
- You now enter your repayment details including the extra payment contribution.
- This tool then allows you to calculate savings on any existing loans by entering a figure next to "extra contribution starts after" button.
- Once the details have been entered you will see the time saved on your loan and the amount of interest saved by making extra contributions.
*Please note that the figures displayed are to be used as a guide only.
Calculator supplied by Myrate