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> Topics > borrowing-and-creditMinimum Payment Calculator
Article Title
Topic
borrowing-and-credit
Reading time
2 min activity
Description
How much can you save in the long term by making more than a minimum monthly payment?
Attribution
You do not need to attribute Banzai, however, it's important that you give attribution to your own Wellness Center. Click here for detailed instructions.
<link rel="canonical" href="https://callfederal.banzai.org/wellness/resources/minimum-payment-calculator" />
or...
This article has been republished with permission. View the original article: Minimum Payment Calculator.
Resources
Help ArticleTo add calculators or Coaches to your webpage add the following link once to the bottom of your page's code. (See here for more details.)
<script>!function(e,t){var s="script",a=e.getElementsByTagName(s)[0],n=e.createElement(s);n.async=!0,n.src="https://banzai.org/coach/styles.js?subdomain=callfederal",a.parentNode.insertBefore(n,a)}(document);</script>
Use the following divs wherever you'd like the respective element to appear.
Minimum Payment Calculator<div id="minimum-payment" type="calculator" class="__banzai-coach"></div>
Images
Article Content
How It Works
By paying more than the minimum payment on a debt, you'll get out of debt faster and save money on interest. This calculator will help you explore how much you could save by paying more than the minimum payment on a debt. Enter the balance of your debt as well as the current monthly payment and the interest rate. See how a fixed monthly payment can help you pay off the debt quicker. You can change the Fixed Monthly Payment by entering a different amount or by using the plus and minus buttons.