Bi-Weekly Payment Calculator

This calculator will show you how much you will save if you make 1/2 of your loan payment every two weeks instead of making a full loan payment once a month. In effect, you will be making one extra loan payment per year -- without hardly noticing the additional cash outflow. But, as you're about to discover, you will certainly notice the increased cash flow that will occur when you pay your loan off well ahead of schedule!

Instructions: Enter your loan's principal balance, monthly payment amount and annual interest rate and then click on the "Compute" button.Note: Other than decimal points, do not enter any other non-numeric characters (commas, dollar signs, etc.) in the middle two entry boxes. Doing so will cause a JavaScript error. 1 Enter the principal balance of your loan: (call your lender and ask for the current payoff amount) $ 2 Enter the amount of your monthly loan payment: $ 3 Enter the your loan's current interest rate: % Changes paid-off date to This is how much interest you will pay under your current monthly payment plan: This is how many months it will take you to pay off your loan under your current monthly payment plan: This is how much interest you will pay if you switch to a bi-weekly payment payment plan: This is how many months it will take you to pay off your loan if you switch to a bi-weekly payment plan: Bi-weekly Payment Interest Savings: Bi-weekly Payment Time Savings (# of Months):