How does a loan overpayment save interest?

An overpayment reduces your remaining loan balance, meaning you pay less interest overall.

Can I make multiple overpayments in this calculator?

This tool is designed for quick, one-off overpayment simulations. Try our advanced version to model recurring overpayments.

Yes. All Optimly calculators are free and require no sign-up.

CALCULATOR FEEDBACK

Loan inputs

START DATE:

TERM IN YEARS:

ANNUAL PERCENTAGE RATE (APR):

Overpayments

Advanced options

NUMBER OF PAYMENTS ALREADY MADE:

LOAN FEES:

COMPOUNDING FREQUENCY:

NOMINAL RATE:

Overpayment benefit