Biweekly Loan Payment Calculator

About this calculator

Switching from a monthly to a biweekly payment schedule means paying half of the monthly amount every two weeks instead of the full amount once a month. Because a year has 52 weeks, that works out to 26 half-payments — the equivalent of 13 full monthly payments instead of 12 — so the borrower makes one extra full payment per year without any change in the amount budgeted per paycheck.

That extra payment goes straight toward principal, which shortens the loan term and reduces the total interest paid compared to sticking with the standard monthly schedule. This calculator compares the two schedules for the same loan amount, rate, and term to show exactly how much interest is saved and how many months are cut off the payoff date.