Bi-Weekly Payment Calculator
Compare monthly payments with half-payments every two weeks to see time saved, interest saved and payoff dates.
Quick answer
A bi-weekly plan pays half the monthly payment every two weeks, so 26 half payments equal 13 monthly payments a year. The extra payment reduces principal, which cuts interest and shortens the payoff time.
Bi-Weekly Payment Calculator
Monthly Payment
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Bi-Weekly Payment (half)
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Interest Saved
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Time Saved
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Paid per Year (bi-weekly)
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Total Interest, Monthly
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Total Interest, Bi-Weekly
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Payoff Date, Monthly
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Payoff Date, Bi-Weekly
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Year-End Comparison
| Year | Monthly balance (₹) | Bi-weekly balance (₹) | Interest paid, monthly (₹) | Interest paid, bi-weekly (₹) |
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Assumptions & method
- Monthly payment M = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = annual rate ÷ 12 and n = term × 12. At 0% it is P ÷ n.
- Bi-weekly payment = M ÷ 2, paid every 14 days: 26 half payments a year, the same as 13 monthly payments.
- Interest accrual: the monthly plan charges balance × annual rate ÷ 12 each month. The bi-weekly plan charges balance × annual rate ÷ 26 each two-week period, applied before the payment. Year rows for the bi-weekly plan are taken after every 26 payments.
- Payoff dates: the monthly plan ends n months after the start date; the bi-weekly plan ends 14 days × the number of payments after it. The last payment of each plan is smaller.
- Assumes the lender applies each payment immediately and charges no fee for bi-weekly payments. Lender day-count rules differ, so treat dates and savings as estimates, not advice.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
How bi-weekly payments speed up a loan
Most loans are repaid in 12 monthly payments a year. A bi-weekly plan pays half of the monthly payment every two weeks. Because there are 26 two-week periods in a year, you end up paying the equivalent of 13 monthly payments. That extra payment goes straight to principal, so the balance falls faster, less interest accrues, and the loan ends sooner. This calculator simulates both schedules period by period, using the interest accrual rule stated below, and reports the months saved, the interest saved and the estimated payoff dates.