In the initial years of a car loan, a large part of the payment goes towards interest payments.
This calculator shows how much you can potentially save by making a large early payment of the loan amount to reduce your monthly payments.
Prior to making any change to your personal finances, please read the disclaimer
Notes on this calculator
- This calculator assumes a fixed interest rate.
- There are additional payments such as motor insurance & registration that you may have to pay in addition to the monthly payments every year.
- All months are assumed to have the same number of days for the purpose of this calculator.
- This calculator assumes that the loan term does not change. Instead of reducing the monthly payment, you can also opt for a shorter loan term.
- The "Early Payment Fee" is now regulated by the UAE Central Bank. Please check the exact amount that your home loan provider is charging.