bestfinancecalc
PERSONAL FINANCE / LOANS

Loan calculator with extra payments

Simulate, compare, plan and track in one workbench. Excel exports cost US$1.99.

Free calculators · paid Excel exports

Your study at a glance

Cost, timing and decisions in one place.

Base payment$664.29
Total including balance due$23,914.30
Interest saved$0.00
Estimated payoff11/7/2029

Where your money goes

Principal, interest and additional costs.

Total including balance due$23,914.30
Financed principal$20,000.00
Interest$3,914.30
Upfront fee & insurance$0.00

The impact of your plan

Original loan versus the current plan.

Without extras$23,914.30
Your plan$23,914.30
Periods saved0
Balance at end$0.00

Extra payments reduce principal. Check your lender’s allocation rules.

Watch your balance fall

Grey: original plan. Green: current plan.

1: $19,535.712: $19,066.783: $18,593.174: $18,114.815: $17,631.676: $17,143.707: $16,650.868: $16,153.089: $15,650.3210: $15,142.5411: $14,629.6812: $14,111.6913: $13,588.5214: $13,060.1215: $12,526.4316: $11,987.4117: $11,443.0018: $10,893.1419: $10,337.7920: $9,776.8821: $9,210.3622: $8,638.1823: $8,060.2824: $7,476.5925: $6,887.0726: $6,291.6627: $5,690.2928: $5,082.9029: $4,469.4530: $3,849.8631: $3,224.0732: $2,592.0233: $1,953.6634: $1,308.9135: $657.7136: $0.0012/7/202611/7/2029

Plan milestones

When projected principal reaches each stage.

25%10/7/2027
50%7/7/2028
75%4/7/2029
100%11/7/2029

Your next step

Explore and keep your study.

Recorded payments0

The transaction ledger is separate from the forecast until you explicitly use its balance.

Loan calculator guides

Work through these examples and model limits before entering your own assumptions.

Excel templates & pricing · US$10 / US$1.99

Understand each part of your loan study

Simulate and compare

Enter the net cash needed, fees, rate and frequency. Compare the same usable amount and include the remaining balance when checking costs at an earlier date.

Plan and track

Build a monthly budget with your chosen reserve. Keep forecasts separate from actual dated transactions, then compare a daily simple-interest model with the same measure on your statement.

Keep a useful record

Save a named study in this browser, restore a JSON backup or download an Excel workbook with results and editable formulas. The Learn tab explains assumptions and limits.

Loan calculator questions

What does this loan calculator include?

Estimate level payments or constant-principal repayments, compare two offers using the same net cash received, plan monthly or one-time extra payments and inspect the remaining balance. The dashboard links the forecast to a monthly budget and a separate record of actual payments.

How is the payment calculated?

For a level-payment loan, the periodic payment is P × r ÷ (1 − (1 + r)^(−n)), where P is financed principal, r is the periodic interest rate and n is the number of payments. With a zero rate it is P ÷ n. A $20,000 loan at a nominal 12% annual rate over 36 monthly payments has a base payment of about $664.29, before insurance or fees.

Can extra payments reduce the interest?

An extra principal payment reduces the balance used for later projected interest. Compare a shorter payoff period with recalculating the remaining payment. Results depend on your lender’s payment-allocation rules, prepayment conditions and actual posting dates.

Are fees and remaining debt included?

Enter upfront, deducted and financed fees separately, plus insurance per active payment. The usable cash amount stays consistent when comparing offers. A comparison at an earlier horizon includes remaining debt rather than treating an unpaid balance as savings.

Does changing the currency convert the loan?

No. Currency changes the display label and formatting. It does not convert amounts or apply country-specific credit rules. Enter all amounts in one currency and choose whether the quoted annual rate is nominal or effective.

Can I save my study or get Excel?

Save named studies locally in your browser or keep a JSON backup. Excel and Excel-compatible CSV exports are priced at US$1.99 per study export, but purchasing is not open yet. Twenty separate editable workbook products have three real image previews each; their sales are also not open.

How it works

Projection uses periodic interest. The daily ledger is a separate model. These are estimates, not a credit offer.

Export your study

Real workbook preview · fictional sample data