Changing your payment schedule could go a long way toward reducing the overall amount you owe and the amount of time it takes to pay off your loan. See all the differences by making payments weekly, biweekly, semimonthly, monthly, bimonthly, quarterly, semiannually or annually. This calculator helps you examine your principal balances by payment, total of all payments made and total interest paid.
Alternative Payment Frequencies
Use this calculator to determine your payment or loan amount for different payment frequencies. You can make payments weekly, biweekly, semimonthly, monthly, bimonthly, quarterly, semiannually or annually. You can then examine your principal balances by payment, total of all payments made, and total interest paid.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.