Follow these steps to see how much quicker you could pay off your loan if you made regular extra repayments.

1. Enter your loan amount, the original term of your loan (usually 25 years) and the percentage rate.
2. Click the button to calculate the monthly repayments based on your original term. Then, enter how much extra you think you can pay per month (eg: if your monthly payments are $600 and you think you can afford to pay $800 then enter 200 in the extra repayments field).
3. Click the Calculate New Term button to find out how long your loan will take to pay off based on your regular extra repayments and how much interest you will save.

Loan Amount

$

Original Term

years

Percentage Rate

%

Monthly Repayments

$

Extra Repayments (per month)

$

Result

Your new loan term is years.

You will save $ in interest.