Interest Savings Calculator
See how much interest and time you save by paying more than the minimum each month.
Range: 0% - 40%
Your current baseline payment
Disclaimer: Estimates only. Assumes a fixed rate and no new charges on the balance. Actual results vary by lender and account terms.
How the Interest Savings Calculator Works
Enter Your Balance
Add your current balance, APR, minimum payment, and an extra amount.
See Instant Results
Compare payoff time and interest for minimum vs. minimum-plus-extra.
Request with Confidence
See if a fixed-rate personal loan could save you even more.
Understanding Your Results
Interest Saved: How much less interest you'll pay by adding an extra amount to every payment instead of paying only the minimum.
Time Saved: How much sooner you'll be debt-free compared with making only the minimum payment.
Payoff Time: The time to clear the balance under each scenario — minimum only versus minimum plus extra.
Tips for Using This Calculator
Small amounts add up: Even a modest extra payment each month can cut months off your payoff.
Target the highest APR: Put extra toward the balance with the highest rate first.
Stay consistent: Keeping the extra payment steady makes the biggest difference.
Avoid new charges: New purchases while paying down slow your progress.
Interest Savings FAQs
We are here to answer your questions
Extra payments go straight to principal, so less interest accrues each month and the balance clears faster.