Deposit Calculator
Pay down your mortgage faster
See how extra payments affect your loan. Aurbjörg's Deposit Calculator shows you how much you can save in interest, the impact of extra payments on the loan term, and what return your extra payment yields.
How does the Deposit Calculator work?
- Choose the loan you want to pay extra into.
- Choose how you want to pay extra into the loan.
- Instantly see the savings, annual return and impact on the loan term.
What is the benefit of extra loan payments?
Extra payments on a loan can save you substantial amounts in interest and even shorten the loan term.
Aurbjörg's Deposit Calculator calculates the benefit of extra payments and shows you, among other things:
- Annual return: What return the extra payment is equivalent to.
- Total savings: How much you save in interest.
- Impact on loan term: What the impact on the loan term is.
- Visual results: The development of principal, interest and balance with and without the extra payment, shown graphically.
Save or pay down the loan?
With the deposit calculator you can see very clearly whether an extra payment on a loan is worthwhile.
We calculate what annual return the extra payment is equivalent to and help you assess whether it is more economical to pay into the loan or to allocate the money to savings or investment.
If capital gains tax is taken into account, the return on the savings or investment needs to be even higher to achieve the same result.
We calculate what annual return the extra payment is equivalent to and help you assess whether it is more economical to pay into the loan or to allocate the money to savings or investment.
If capital gains tax is taken into account, the return on the savings or investment needs to be even higher to achieve the same result.
Three ways to pay down your loan faster
Single extra payment
See how a single extra payment can lower the loan's interest cost.
Monthly extra payment
Find out how much you can save with monthly extra payments.
Fixed total payment
Fix the loan's total payment even as the instalment decreases, and use the difference to pay the loan down faster. See how the payment split changes over time.
Temporary extra payments
Do you want to see the benefit of temporary extra payments?
It may be unrealistic to assume a monthly extra payment or a fixed total payment for the whole loan term if the term is long. Choose how long you intend to pay extra into the loan and see what impact it has.
It may be unrealistic to assume a monthly extra payment or a fixed total payment for the whole loan term if the term is long. Choose how long you intend to pay extra into the loan and see what impact it has.
Assets & liabilities
Income & expenses
Property monitoring
Aurbjörg finds opportunities in household finances
Let Aurbjörg monitor the market and help you make better financial decisions.
Aurbjörg goal is to increase financial literacy, increase transparency and help you make more informed and better financial decisions.
