FICO Loan Savings Calculator
Calculate how your FICO credit score affects your loan interest rate and total cost. Compare different credit scores to see potential savings on your loan payments and interest.
Loan Details
Extra Payments (Optional)
Results
Payment Schedule (Amortization Table)
| Month | Payment Date | Beginning Balance | Principal | Interest | Extra Payment | Total Payment | Ending Balance |
|---|---|---|---|---|---|---|---|
| 1 | November 1, 2025 | $50,000.00 | $612.22 | $500.00 | $0.00 | $1,112.22 | $49,387.78 |
| 2 | December 1, 2025 | $49,387.78 | $618.34 | $493.88 | $0.00 | $1,112.22 | $48,769.43 |
| 3 | January 1, 2026 | $48,769.43 | $624.53 | $487.69 | $0.00 | $1,112.22 | $48,144.90 |
| 4 | February 1, 2026 | $48,144.90 | $630.77 | $481.45 | $0.00 | $1,112.22 | $47,514.13 |
| 5 | March 1, 2026 | $47,514.13 | $637.08 | $475.14 | $0.00 | $1,112.22 | $46,877.05 |
| 6 | April 1, 2026 | $46,877.05 | $643.45 | $468.77 | $0.00 | $1,112.22 | $46,233.60 |
| 7 | May 1, 2026 | $46,233.60 | $649.89 | $462.34 | $0.00 | $1,112.22 | $45,583.71 |
| 8 | June 1, 2026 | $45,583.71 | $656.39 | $455.84 | $0.00 | $1,112.22 | $44,927.33 |
| 9 | July 1, 2026 | $44,927.33 | $662.95 | $449.27 | $0.00 | $1,112.22 | $44,264.38 |
| 10 | August 1, 2026 | $44,264.38 | $669.58 | $442.64 | $0.00 | $1,112.22 | $43,594.80 |
| 11 | September 1, 2026 | $43,594.80 | $676.27 | $435.95 | $0.00 | $1,112.22 | $42,918.52 |
| 12 | October 1, 2026 | $42,918.52 | $683.04 | $429.19 | $0.00 | $1,112.22 | $42,235.49 |
| 13 | November 1, 2026 | $42,235.49 | $689.87 | $422.35 | $0.00 | $1,112.22 | $41,545.62 |
| 14 | December 1, 2026 | $41,545.62 | $696.77 | $415.46 | $0.00 | $1,112.22 | $40,848.85 |
| 15 | January 1, 2027 | $40,848.85 | $703.73 | $408.49 | $0.00 | $1,112.22 | $40,145.12 |
| 16 | February 1, 2027 | $40,145.12 | $710.77 | $401.45 | $0.00 | $1,112.22 | $39,434.35 |
| 17 | March 1, 2027 | $39,434.35 | $717.88 | $394.34 | $0.00 | $1,112.22 | $38,716.47 |
| 18 | April 1, 2027 | $38,716.47 | $725.06 | $387.16 | $0.00 | $1,112.22 | $37,991.41 |
| 19 | May 1, 2027 | $37,991.41 | $732.31 | $379.91 | $0.00 | $1,112.22 | $37,259.10 |
| 20 | June 1, 2027 | $37,259.10 | $739.63 | $372.59 | $0.00 | $1,112.22 | $36,519.47 |
| 21 | July 1, 2027 | $36,519.47 | $747.03 | $365.19 | $0.00 | $1,112.22 | $35,772.45 |
| 22 | August 1, 2027 | $35,772.45 | $754.50 | $357.72 | $0.00 | $1,112.22 | $35,017.95 |
| 23 | September 1, 2027 | $35,017.95 | $762.04 | $350.18 | $0.00 | $1,112.22 | $34,255.90 |
| 24 | October 1, 2027 | $34,255.90 | $769.66 | $342.56 | $0.00 | $1,112.22 | $33,486.24 |
| 25 | November 1, 2027 | $33,486.24 | $777.36 | $334.86 | $0.00 | $1,112.22 | $32,708.88 |
| 26 | December 1, 2027 | $32,708.88 | $785.13 | $327.09 | $0.00 | $1,112.22 | $31,923.75 |
| 27 | January 1, 2028 | $31,923.75 | $792.98 | $319.24 | $0.00 | $1,112.22 | $31,130.76 |
| 28 | February 1, 2028 | $31,130.76 | $800.91 | $311.31 | $0.00 | $1,112.22 | $30,329.85 |
| 29 | March 1, 2028 | $30,329.85 | $808.92 | $303.30 | $0.00 | $1,112.22 | $29,520.92 |
| 30 | April 1, 2028 | $29,520.92 | $817.01 | $295.21 | $0.00 | $1,112.22 | $28,703.91 |
| 31 | May 1, 2028 | $28,703.91 | $825.18 | $287.04 | $0.00 | $1,112.22 | $27,878.73 |
| 32 | June 1, 2028 | $27,878.73 | $833.44 | $278.79 | $0.00 | $1,112.22 | $27,045.29 |
| 33 | July 1, 2028 | $27,045.29 | $841.77 | $270.45 | $0.00 | $1,112.22 | $26,203.52 |
| 34 | August 1, 2028 | $26,203.52 | $850.19 | $262.04 | $0.00 | $1,112.22 | $25,353.34 |
| 35 | September 1, 2028 | $25,353.34 | $858.69 | $253.53 | $0.00 | $1,112.22 | $24,494.65 |
| 36 | October 1, 2028 | $24,494.65 | $867.28 | $244.95 | $0.00 | $1,112.22 | $23,627.37 |
| 37 | November 1, 2028 | $23,627.37 | $875.95 | $236.27 | $0.00 | $1,112.22 | $22,751.42 |
| 38 | December 1, 2028 | $22,751.42 | $884.71 | $227.51 | $0.00 | $1,112.22 | $21,866.71 |
| 39 | January 1, 2029 | $21,866.71 | $893.56 | $218.67 | $0.00 | $1,112.22 | $20,973.16 |
| 40 | February 1, 2029 | $20,973.16 | $902.49 | $209.73 | $0.00 | $1,112.22 | $20,070.67 |
| 41 | March 1, 2029 | $20,070.67 | $911.52 | $200.71 | $0.00 | $1,112.22 | $19,159.15 |
| 42 | April 1, 2029 | $19,159.15 | $920.63 | $191.59 | $0.00 | $1,112.22 | $18,238.52 |
| 43 | May 1, 2029 | $18,238.52 | $929.84 | $182.39 | $0.00 | $1,112.22 | $17,308.68 |
| 44 | June 1, 2029 | $17,308.68 | $939.14 | $173.09 | $0.00 | $1,112.22 | $16,369.55 |
| 45 | July 1, 2029 | $16,369.55 | $948.53 | $163.70 | $0.00 | $1,112.22 | $15,421.02 |
| 46 | August 1, 2029 | $15,421.02 | $958.01 | $154.21 | $0.00 | $1,112.22 | $14,463.01 |
| 47 | September 1, 2029 | $14,463.01 | $967.59 | $144.63 | $0.00 | $1,112.22 | $13,495.42 |
| 48 | October 1, 2029 | $13,495.42 | $977.27 | $134.95 | $0.00 | $1,112.22 | $12,518.15 |
| 49 | November 1, 2029 | $12,518.15 | $987.04 | $125.18 | $0.00 | $1,112.22 | $11,531.11 |
| 50 | December 1, 2029 | $11,531.11 | $996.91 | $115.31 | $0.00 | $1,112.22 | $10,534.20 |
| 51 | January 1, 2030 | $10,534.20 | $1,006.88 | $105.34 | $0.00 | $1,112.22 | $9,527.32 |
| 52 | February 1, 2030 | $9,527.32 | $1,016.95 | $95.27 | $0.00 | $1,112.22 | $8,510.37 |
| 53 | March 1, 2030 | $8,510.37 | $1,027.12 | $85.10 | $0.00 | $1,112.22 | $7,483.25 |
| 54 | April 1, 2030 | $7,483.25 | $1,037.39 | $74.83 | $0.00 | $1,112.22 | $6,445.86 |
| 55 | May 1, 2030 | $6,445.86 | $1,047.76 | $64.46 | $0.00 | $1,112.22 | $5,398.09 |
| 56 | June 1, 2030 | $5,398.09 | $1,058.24 | $53.98 | $0.00 | $1,112.22 | $4,339.85 |
| 57 | July 1, 2030 | $4,339.85 | $1,068.82 | $43.40 | $0.00 | $1,112.22 | $3,271.03 |
| 58 | August 1, 2030 | $3,271.03 | $1,079.51 | $32.71 | $0.00 | $1,112.22 | $2,191.52 |
| 59 | September 1, 2030 | $2,191.52 | $1,090.31 | $21.92 | $0.00 | $1,112.22 | $1,101.21 |
| 60 | October 1, 2030 | $1,101.21 | $1,101.21 | $11.01 | $0.00 | $1,112.22 | $0.00 |
Formula
P = loan amount, r = monthly rate (APR / 12), n = total months
Interest rate is determined by FICO score: Excellent (800+) = 6%, Very Good (740-799) = 8%, Good (670-739) = 12%, Fair (580-669) = 18%, Poor (<580) = 22-25%
About FICO Loan Savings Calculator
Your FICO credit score plays a crucial role in determining the interest rate you'll receive on personal loans. The FICO Loan Savings Calculator helps you understand how your credit score impacts your loan costs and potential savings.
How FICO Scores Affect Loan Rates: Lenders use your FICO score to assess credit risk. Higher scores typically result in lower interest rates, which can save you thousands of dollars over the life of your loan. Our calculator uses industry-standard rate ranges based on FICO score ranges: Excellent credit (800+) receives rates around 6%, Very Good (740-799) around 8%, Good (670-739) around 12%, Fair (580-669) around 18%, and Poor credit (<580) faces rates of 22-25% or higher.
Calculate Your Loan Payments: Enter your loan amount, current FICO score, and desired loan term to see your estimated monthly payment, total interest, and total repayment amount. The calculator automatically determines your interest rate based on your credit score, giving you an accurate picture of your loan costs.
Compare Different Credit Scores: Want to see how improving your credit score could save you money? Use the comparison feature to enter a higher FICO score and instantly see the difference in monthly payments, total interest, and overall loan cost. This powerful tool helps you understand the financial benefits of credit improvement.
Plan Extra Payments: The calculator also supports extra payment scenarios. Whether you make monthly extra payments or a one-time lump sum, you can see how these additional payments reduce your total interest and shorten your loan term. This helps you plan strategies to pay off your loan faster and save on interest.
Detailed Payment Schedule: View a complete amortization table showing every payment throughout your loan term. See how each payment is split between principal and interest, track your remaining balance, and understand how your loan balance decreases over time. Export the schedule to CSV for further analysis or record-keeping.
Understanding Loan Repayment: Loan repayment consists of two components: principal (the original loan amount) and interest (the cost of borrowing). Early in your loan term, most of your payment goes toward interest. As you progress, more goes toward principal. Understanding this breakdown helps you make informed decisions about your loan.
How Long Will It Take to Repay: The loan repayment calculator shows exactly how long it will take to pay off your loan based on your payment amount and any extra payments. If you make extra payments, you'll see how much time you can save and how much interest you can avoid paying.
Maximize Your Savings: Use this calculator to explore different scenarios. Try different loan amounts, terms, and credit scores to find the best loan structure for your financial situation. Understanding the relationship between your FICO score and loan costs empowers you to make better borrowing decisions and potentially save thousands of dollars.