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Extra repayments are payments you make on top of your regular loan repayments. Even small additional amounts can help reduce your loan balance faster and may save you interest over time.
The calculator shows how making extra repayments could impact your loan. By entering your loan details and an additional repayment amount, you can see how much interest you might save and how much sooner you could pay off your loan.
Extra repayments can shorten your loan term by paying down the principal faster. Alternatively, you may choose to keep the same loan term and reduce the total interest you pay.