Biweekly Payment Calculator

Pay half your monthly payment every two weeks and cut years off a loan. Results update as you type.

Equivalent monthly simulation: paying half the monthly payment every two weeks means 26 half payments a year, which equals 13 monthly payments. This page simulates that as 13/12 of the monthly payment each month, which matches the yearly cash flow of a true biweekly schedule.

Loan balance

Interest rate (annual %)

Original term (years)

Standard monthly payment (optional)

Biweekly payment

$0.00

Cost breakdown

How this calculator works

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Results are estimates for education only and are not financial advice.

Do I pay more each month on a biweekly plan?

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Biweekly payment formula

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How the payoff time is calculated, step by step

Work out the standard monthly payment from the balance, rate, and term, or use the payment you entered.
Halve the monthly payment for the biweekly payment, and multiply it by 13/12 for the equivalent monthly payment.
Simulate the loan month by month at the equivalent payment until the balance reaches zero, counting months and interest.
Compare with the standard monthly schedule for interest saved and months saved.

Worked example

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Does my lender have to offer a biweekly plan?

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Is biweekly better than one extra payment a year?

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