Biweekly Auto Payment Calculator
Enter the balance, rate and remaining term to compare the two methods.
Interest saved
β
Enter values above
Payoff time with biweekly
β
Time saved (months)
β
Total interest β biweekly
β
Total interest β monthly
β
Monthly-equivalent payment
β
Worked example
With the default inputs shown below, this calculator returns the following results:
| Input | Value |
|---|---|
| Loan balance ($) | 25000 |
| Interest rate (%) | 6.5 |
| Remaining term (years) | 5 |
| Extra per payment ($) | 0 |
| Result | Value |
|---|---|
| Interest saved | $401 |
| Payoff time with biweekly | 4.6 years |
| Time saved (months) | 5.4 |
| Total interest β biweekly | $3,948 |
| Total interest β monthly | $4,349 |
| Monthly-equivalent payment | $529.92 |
Values shown are produced by this page in your browser; change any input to update them.
How to use the Biweekly Auto Payment Calculator
- Loan balance ($) β default 25000
- Interest rate (%) β default 6.5
- Remaining term (years) β default 5
- Extra per payment ($) β default 0
- Press Calculate to update the results instantly.
Frequently asked questions
You make 26 half-payments a year, which equals 13 full monthly payments. That extra payment each year goes straight against the principal, so the balance falls faster and less interest accrues.
No. Paying half the monthly amount every two weeks, or simply adding one extra monthly payment a year directly to the principal, achieves the same result without paying a third-party enrolment fee.
Yes β anything you add to the extra field is applied to each biweekly payment, which compounds the saving further. Use it to model the effect of rounding the payment up.