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Is there a comparative APR calculator out there?

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HorseTears
New Contributor

Is there a comparative APR calculator out there?

Does anyone know if there's a web calculator out there that allows one to compare the impact of higher monthly payments on a loan balance? I've just been approved for a personal loan for home improvements at a good fixed rate. The loan provider does not have any penalties for early payment. I can afford to pay more than the standard/minimum monthly payment based upon the terms of the loan. Which I intend to do. 

 

Is anyone aware of an online calculator that let's you plug and play different numbers to see how that impacts one's payments toward the principal and interest?  Essentially, just as an example, if, each month I could afford to pay $300 more than the standard monthly payment,  I would want to know, over the term of the loan, how much interest that would end up saving me.  

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Anonymous
Not applicable

Re: Is there a comparative APR calculator out there?

Message 2 of 4
HorseTears
New Contributor

Re: Is there a comparative APR calculator out there?

@Anonymous - thank you!  Yes, that's exactly what I was looking for! 

Message 3 of 4
ccquest
Established Contributor

Re: Is there a comparative APR calculator out there?

I use another site for my student loans: http://unbury.us/

It doesn't seem to cover the past as well as Saeren's link, but it does exhibit the difference of a larger payment over the life of a loan and you can see what different rates do as well.

I've got my own Excel sheet as well where I plugin scenarios and calculate my savings by making additional payments.
as of 1/1/23
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