Early Repayment Calculator

The early repayment penalty (commission) is the fee the bank may charge when the loan is paid off before maturity. Legally, a maximum of 2% of the remaining principal for fixed-rate loans and 1% for variable-rate loans can be charged.

Generally yes, because you save on interest in remaining installments. However, if the early payment commission is high and the maturity is close (interest portion in remaining installments is low), the advantage may decrease. Calculating the savings amount before deciding is recommended.

Yes, instead of paying off the entire loan, you can make a partial early payment to either reduce the installment amount or shorten the term. In both cases, your total interest cost decreases.