💰 Loans & Credit

Early Repayment
Savings Calculator

Discover how much interest and time you save by overpaying monthly or making a lump sum payment — and whether early repayment charges make it worthwhile.

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🏦 Your Loan Details

Current Loan Balance (£)

Annual Interest Rate (%)

Remaining Term (months)

Current Monthly Payment (£)

Leave blank to auto-calculate from above

⚡ Overpayment Strategy

Extra Monthly Overpayment (£)

Added on top of your regular payment each month

One-Off Lump Sum Payment (£)

Made at the start of remaining term

Early Repayment Charge (%)

Typically 1–2 months interest or % of balance

Overpayment Allowance (% of balance/year)

Many lenders allow 10% penalty-free per year

Interest Saved

—

vs. paying normally

Months Saved

—

paid off earlier

New Payoff Date

—

vs. original date

😐 Without Overpaying

Monthly Payment—

Total Payments—

Total Interest—

Payoff Date—

Months Remaining—

🚀 With Overpaying

Monthly Payment—

Total Payments—

Total Interest—

Payoff Date—

Months Remaining—

💡 Overpayment Scenarios — Pick the Right Level for You

Extra Monthly	New Term	Months Saved	Interest Saved	Total Saving	Monthly Cost	Return on Overpay

💷 Lump Sum Early Payment Analysis

Lump Sum Amount to Pay (£)

Month You'll Make the Payment

Interest Saved

—

Months Saved

—

New Payoff

—

Effective return on lump sum: — (equivalent to earning this interest rate on savings)

⚖️ Early Repayment Charge (ERC) Worth-It Checker

Should you pay the ERC to get out of your loan early? Enter the details below.

ERC as % of Remaining Balance

Months You Want to Exit Early

Calculating...

📋 Side-by-Side Amortisation — Normal vs Overpayment

Mo.	Normal Bal.	Normal Int.	Overpay Bal.	Overpay Int.	Saved This Mo.

📊 Payment Comparison Across Overpayment Levels

calculator

Should You Overpay Your Loan?

Overpaying a personal loan is one of the highest-return financial moves available. Unlike savings, overpaying a loan at 8.9% APR gives you a guaranteed 8.9% return — tax-free and risk-free. With UK savings rates still below most loan rates, overpaying almost always wins.

The 10% Overpayment Rule

Most UK personal loan lenders allow you to overpay up to 10% of your outstanding balance per year without incurring early repayment charges. Check your loan agreement under 'overpayments' or 'early repayment' — our tool flags when you exceed this allowance.