A guide to comparing choices for an existing loan. The calculator estimates interest saved; the exact outcome depends on your contract and the schedule issued by your lender.
Open the early repayment calculator
Shorter term or lower monthly payment?
With the same early payment and interest rate, keeping the monthly payment clears the balance sooner. Estimated interest falls more than when the remaining term stays unchanged, but the monthly budget commitment remains close to its current level.
Lowering the payment keeps the remaining term and frees up monthly cash. Interest savings may be smaller. Choose with your cash reserve and ability to pay in mind, not just the saving displayed.
The combined option recalculates the payment for a term between the shorter scenario and the current term. The calculator automatically limits your requested term to this range. Check the term shown in the result.
How to read the estimate
Enter the contractual nominal annual interest rate, not APR. Payments use monthly interest and keep the entered rate constant; future IRCC changes or the end of an initial fixed-rate period are not predicted.
The calculation starts with the remaining balance and one early payment. It does not reproduce exact processing dates, daily interest, insurance or every contractual fee. The final instalment may be smaller.
Prefilled figures are a calculation example, not a bank offer. Request the current schedule and bank simulations for the same amount and date.
Refinancing is a separate decision: a new loan replaces the full balance, without the early payment used in the other scenarios. Include switching costs; a lower payment over more years does not guarantee a lower total cost.
Negative savings mean additional cost in this model. Refinancing cost recovery is a simple division by the monthly payment difference, not a guarantee of total savings.
Estimated interest savings equal remaining baseline interest minus interest under the new scenario minus estimated compensation. A negative result means an additional cost in the model.
Simplified example with no interest
For a 10,000 lei balance, 12 months remaining and 0% interest, full early repayment of 10,000 lei leaves 0 months and 0 future payments in the model. Interest savings are 0 lei. Repaid principal is not a saving and must not be counted twice.
What compensation may apply?
For consumer loans covered by OUG 50/2010, fixed-rate compensation uses the 1% cap above 12 remaining months or 0.5% at 12 months or less, additionally limited to estimated remaining interest. Variable-rate compensation is zero. The actual amount may be lower; check exceptions and your contract.
The mortgage scenario assumes a contract covered by OUG 52/2016 and zero early-repayment compensation. Contract dates and transitional provisions matter; confirm the applicable regime with the lender before using the result.
Checks before making the payment
Request the current balance, nominal interest rate and remaining schedule. Compare bank simulations for the same amount and date. Confirm the request procedure, processing date and final amount. After payment, check the revised schedule or closure confirmation. Keep a cash reserve suited to your expenses.