Financial Tools
🚗 Car Loan Early Settlement Calculator
Calculate your early settlement amount, interest savings, and remaining balance.
Loan Details
Real-time calculation
10.0%
0%100%
Years
%
Months
1 month60 months
Settlement Summary
Settlement Amount
RM 0
Interest PaidInterest Remaining
NaN%NaN%
Interest Paid
RM 0
Interest Saved
RM 0
Principal PaidRM 0
Remaining BalanceRM 0
Months Remaining0 months
This is an estimate. Actual settlement amount may vary based on your bank's calculations and fees.
Car Loan Early Settlement FAQ
The early settlement amount is calculated using the Rule of 78, which is a method used by banks in Malaysia. This method front-loads the interest, meaning you pay more interest in the early period of the loan.
Yes, you can save money by settling early, but the savings might be less than expected due to the Rule of 78. The earlier you settle, the more interest you can save.
Banks in Malaysia may charge an early settlement fee, typically around 1% of the remaining loan amount. Check with your bank for the exact fee structure.