Loan Repayment Calculator

Are you considering taking out a loan or paying yours off sooner? Repaying loans takes time, and our loan repayment calculator can show you how additional payments, larger monthly payments, and other factors can help you pay back loans quicker and reduce your interest expense.

This tool shows the amount of time it takes to repay a loan. If you make additional principal payments, you shorten the repayment period. You also reduce interest expense. Generally, you make prepayments if you have surplus cash or if your current cost of capital is lower. Since interest expense is tax-deductible, the after-tax interest rate should be considered when making a prepayment decision.

Next Steps

Are you interested in applying for a loan? Whether it’s a mortgage, equity loan, or personal line of credit, Fifth Third can help. Learn more about Fifth Third loans, call us at 1-877-534-2264 or visit a Fifth Third Branch.

Additional Resources

5 Ways to Manage (and Lower) Student Loan Debt

Managing student loans is tough. From making payments to staying on top of owed amounts, here are 5 tips on how to manage (and lower) student loan debt.

5 Steps for First Time Home Buyers

Are you a first-time home buyer or need to review the mortgage loan process? Watch this quick video to understand the mortgage loan process in 5 steps.

Mortgage Loans and Rates

Looking to buy or refinance your home? Contact a mortgage specialist at Fifth Third Bank to learn about mortgages, current mortgage rates, and loan types.