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Loan Overpayment Calculator

Loan Overpayment Calculator

See how monthly overpayments shorten the term and reduce interest.

New Clearing Time50 months (4.17 years)
Months Saved10 months
Total Interest After Overpayments£1647.22
Interest Saved£336.89

Frequently Asked Questions

Does overpaying reduce the loan length?

Yes — overpayments instantly reduce the capital owed and shorten the term.

Does overpaying save interest?

Yes — since interest is based on the remaining balance, reducing it early saves money.