NextHarborNew launches in JohorInterest saver
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Extra payments · you choose the start year

Interest Saver Calculator

Enter your loan, an extra amount to pay each month, and the year the extra payments start. See how much interest and time you save.

Loan details

Amounts in RM. Interest rate in % a year.

RM
%a year
years
RM
from month 1

For example, 5 means no extra in years 1 to 4, then extra every month from year 5.

Results

Interest saved RM 49,157.55. Loan paid off 3 years 1 month sooner.

Monthly instalmentRM 2,304.74The bank’s standard repayment
With your extraRM 2,304.74RM 2,404.74From year 1
Interest savedRM 49,157.55≈ 21.3 months of instalments
Time saved3.08 years37 months sooner
Total interest, no extraRM 467,989.25
Total interest, with extraRM 418,831.70
Extra starts
Year 1 (month 1)
Extra each month
RM 100.00
Loan paid off in
31 years 11 months

Estimate only. It assumes each extra payment goes straight to the loan balance, as on a flexi loan. Ask your bank how it treats extra payments, and if paying off early has a fee.

How it works

Why does paying extra save interest?

Banks charge interest each month on what you still owe. An extra payment cuts that balance straight away, so every later month has less interest and the loan ends sooner.

How is the monthly instalment worked out?

With the standard loan formula: loan × r ÷ (1 − (1 + r)−n). Here r is the yearly rate ÷ 12, and n is the number of months.

What does this look like on a real loan?

A loan of RM 500,000 over 35 years at 4.3% has an instalment of RM 2,304.74 a month. Paying RM 100 extra from year 1 saves RM 49,157.55 in interest and ends the loan 37 months sooner.

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