OverPayWise

Mortgage planning tools

Free loan repayment calculator

Estimate loan payments, total interest, and payoff time.

Compare a standard repayment schedule with optional extra monthly payments to see how much time and interest could be saved.

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Amortized repayment

Estimates assume fixed monthly payments and a steady interest rate for the full term.

Standard monthly payment

£301

Extra payments could save £892in interest.

Inputs

Loan details

Estimate

Results

Standard monthly payment

£301

Total interest

£3,034

Total repaid

£18,034

Interest saved

£892

New payoff time

3y 7m

Assumes the interest rate stays the same and extra payments reduce the principal immediately.

Projection

Loan balance over time

Standard payoffWith extra payments

Important disclaimer

This calculator provides estimates only and does not constitute financial advice. Actual loan costs may vary due to lender terms, fees, repayment timing, interest rate changes, and early repayment rules.

Review the OverPayWise methodology and editorial standards

Learn This Calculation

Understand the lesson behind Loan Repayment Calculator.

Use the education page before relying on the result. It explains the assumptions, shows the maths, gives worked examples, and includes practice questions so the estimate is easier to check.

Tutorial

Use the repayment lesson to understand amortising debt before modelling a personal loan.

Maths lesson

Covers principal, interest rate, term, monthly payment, total interest, and payoff timing.

Worked examples

Works through the same amortisation logic used for mortgages, with a smaller loan balance.

Practice questions

Practise identifying how extra repayments reduce interest and shorten a loan schedule.

Open Mortgage Repayment Calculator TutorialReturn to calculator

Related lessons

Mortgage Repayment Calculator TutorialLearn the repayment formula, interest split, total repaid, and LTV.Mortgage Overpayment Calculator TutorialLearn amortisation, overpayment interest savings, time saved, and ERC checks.

Next Lesson

Compare saving after debt repayment

Once the loan path is clear, project what freed-up monthly cash could do elsewhere.

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Trust and transparency

OverPayWise provides educational estimates only. It is not FCA authorised, does not provide regulated financial advice, and does not arrange mortgages.

MethodologyHow calculator assumptions, formulas, and caveats are reviewed.Correction policyHow to report mistakes and how material issues are handled.Content reviewHow guides, lessons, examples, and FAQs are checked.