Early in a loan most of each payment is interest; later most of it reduces the balance. That is why extra payments early on save the most.
Track it in Spendry
- Add the loan with the amount, the interest rate, the term and the first payment date.
- See the remaining balance, the payments left and the month it ends.
- Get a reminder before each payment and include the loan in your debt-free plan.
Tip
Use the free loan calculator on this site to see the monthly payment and the total interest before you sign.
Loan calculator
Free loan calculator for car loans, personal loans and mortgages. See the monthly payment, the total interest and the full payment schedule.
Questions
Should I pay off a loan early?
If the rate is high and there is no early repayment fee, extra payments save interest. Check your loan terms first.
Can I track a mortgage?
Yes. Add it as a loan with its rate and term.
