Extra Payment Calculator

If you have a loan or mortgage, probably you have ever think about paying more money on top of your monthly payment to lower the amount of the total interest paid, as well as shorten the payment period over the life of the loan.

In loan terms, it is called extra payment. Instead of thinking about making additional payment, you can use this calculator to calculate the impact of your extra payment to your existing loan or mortgage. You can also plan to make extra payment regularly whether paying it monthly, quarterly, semi-annually or annually.

This is an Excel spreadsheet that allows you to calculate your loan value in case of extra payment. This spreadsheet consist of two worksheets, where in the first worksheet you can put your extra payment plan in term of amount and payment period, and you can see the result of your loan without and with extra payments.