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Notice : This site will close permanently in January 2018.
However, you can continue to use Calcamo, only in French, from this url.

Enter a partial or full early repayment

Current selection

 Demonstration - Fixed rate 
 Borrowed amount : $100,000.00 First payment : 01/01/2018  
 Initial duration : 20 years Last payment : 12/01/2037  
 Effective duration : 20 years Number of payments : 240  
 Frequency : Monthly Total interest : $58,388.59  
 Type of interest rate : Simple interest Total fees : $0.00  
Date Number of payments Payment amount Annual interest rate  
01/01/2018 240 $659.96 5.00 %  
 Note: You are currently in demo mode. To use this feature with your own data, please create a new loan and then return to this page.   Enter a new loan  

Enter data for this operation

  Data entry form  
  Payment date :  

First select the payment date on which the early repayment will be made. Then you will be able to enter the early repayment amount, specify how you would like subsequent payments (if any) to be adjusted, and, if applicable, enter any associated fees.

Guide to the information required

• For the sake of simplicity, the early payment is applied immediately after the payment for the date you selected. However, if this is not accurate for your situation, there may be interim interest accrued, for which the payment methods vary according to the loan establishment.

• The drop-down list of proposed payment dates runs from the first payment date (or the first payment after the last operation performed on the loan) to the penultimate payment.

• The “Repayment amount” field is initially filled in with the capital outstanding on the selected date. For a partial early repayment, reduce this amount to the appropriate value; for a full early repayment, leave it as is (if you enter a higher value, it will automatically be reset to the capital outstanding).

• For a partial early repayment, you have two options for defining the effect on subsequent payments: keep the same payment amount and reduce the loan duration, or reduce the payment amount and keep the same loan duration. Note that if other operations have been entered for the loan that will change the amount of any subsequent payments, the payment amount reduction will not be applied.

• The “Fee amount” field can be left at zero.

• In the payment schedule, the early repayment will appear as an additional payment, marked with an * (asterisk).

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