The Lump Sum Repayment Simulator calculates the savings you can make in both dollars and time by making a one-off lump sum repayment on your loan.
Lump Sum Repayments - Step by Step Guide
This Lump Sum Repayment Simulator allows you to calculate the savings you can make by making a one-off lump sum repayment on your loan.
- You begin by entering your loan details including the loan amount, interest rate, loan term and the repayment frequency.
- You now enter your repayment details, the lump sum you wish to pay and after how many years of your existing loan that you are making this payment.
- The Lump Sum Repayment Simulator now shows you the savings you have made in time. This is displayed as years and months along with the dollar amount of interest you will save by making a lump sum payment.
*Please note that the figures displayed are to be used as a guide only.
Calculators supplied by Myrate