{"type":"document","data":{"id":"d28c6721-21c2-4f61-bd12-b00e301a1ac9","localeString":"en-GB","publishDate":"2026-02-10T16:47:12.574+01:00","contentType":"onecms:productPage","hasMacro":false,"flexPageMetadata":{"afmBanner":false,"robotInstruction":{"noIndex":false,"noFollow":false},"description":"Want to know how much you save when you make extra repayments? Here you can find how to calculate it easily."},"mainHeaderZone":{"componentType":"productHeader","legalBanner":{"image":{"transformBaseUrl":"https://assets.ing.com/transform/bfc47636-d002-461a-b209-589beaaa7596/Group-7","type":"image","width":46,"original":"https://assets.ing.com/m/3f5c0b274ee863ed/original/Group-7.svg","extension":"svg"},"body":"Let op! Geld lenen kost geld","headerBannerType":"headerBannerType","componentStyle":"default"},"cta":{"componentType":"cta","textLink":{"url":"https://mijn.ing.nl/banking/loans/details","text":"Calculate what you save"}},"secondaryCta":{"textLink":{"url":"/en/personal/loans/use-my-loan/how-extra-payments-work","text":"How extra repayments work"}},"coreHeader":{"body":"Making an extra repayment is always penalty free and helps you save money. We’re happy to explain how it works and where you can easily calculate your savings in My ING.","headerImage":{"transformBaseUrl":"https://assets.ing.com/transform/0cc30110-4810-49f6-b8c1-e413e9d302ad/car-loan-0-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/feae314ae85f3bd/original/car-loan-0-1920.jpg","extension":"jpg"},"title":"Making extra repayments on your loan","subtitle":"Calculate how much you save"},"backLink":{"textLink":{"url":"/en/personal/loans/use-my-loan/more-about-ing-overdraft","text":"More about ING overdraft"}}},"flexZone":{"flexComponents":[{"componentType":"sectionTitle","title":"How does the repayment of my loan work?"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Each month we debit a fixed instalment amount (interest and repayment) from your curren account. This amount is predetermined based on your loan amount, the term, and the corresponding fixed interest rate. With every instalment, you repay part of your loan and pay the costs of the loan in the form of interest.</span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"What is the effect of making extra repayments?"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>If you make an extra repayment on your loan, you immediately reduce your outstanding debt and therefore pay less interest. Your monthly instalment amount does not change. The repayment portion becomes slightly higher and the interest portion slightly lower. Ultimately, an extra repayment means you will pay off your loan sooner and pay less interest over the entire term.</span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"How do you calculate your savings from extra repayments?"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>If you make an extra repayment, you save on interest costs and shorten your repayment period. How much you save and how much earlier you finish depends on your extra repayment amount. In My ING or the ING App, you can quickly and easily calculate your savings from an extra repayment.</span></span></span></span></span></p><ul><li>Go to your loan. </li><li>Click on &apos;Manage&apos;.</li><li>Click on &apos;Repay extra&apos;</li><li><span lang=\"EN-US\" dir=\"ltr\"><span><span>Enter the amount you want to repay as a one‑off extra repayment </span></span></span></li><li><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>You’ll immediately see how much interest you save and how many months earlier you’ll finish repaying. </span></span></span></span></span></p></li></ul><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>You decide if and when you want to make an extra repayment. It’s good to know that extra repayments on your loan are always allowed and always penalty‑free.</span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"What happens after the extra repayment?"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>After you make an extra repayment in Mijn ING, the amount is immediately debited from your Payment Account. You will also see in your loan overview that your outstanding debt has been reduced. From that moment on, you only pay interest on the new, lower balance, and you will finish repaying sooner.</span></span></span></span></span></p><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>For a <a data-type=\"internal\" href=\"/particulier/lenen/tarieven/doorlopend-krediet\">revolving credit</a>, you can always make new withdrawals during the first two years (the withdrawal period). Once the withdrawal period ends, the extra repayment is final because you can no longer withdraw money from the credit facility.</span></span></span></span></span></p><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>For a <a data-type=\"internal\" href=\"/en/personal/loans/our-loans/personal-loan\">personal loan</a>, any extra repayment is always final because withdrawing money from the loan is not possible.</span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"Example 1: Situation without an extra repayment"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Suppose you borrow €12,000 and the interest rate for this loan amount is 6.60%. You want to repay your Personal Loan over 4 years (48 months). The costs are as follows:</span></span></span></span></span></p><ul><li><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Monthly instalment: €284.07</span></span></span></span></span></li><li><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Total amount payable: €13,635.36</span></span></span></span></span></li><li><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Total interest costs: €13,635.36 – €12,000 = €1,635.36</span></span></span></span></span></li></ul><table><caption><p> </p><p>Overview loan amount and related interest</p></caption><thead><tr><th>Total loan amount</th><th><span lang=\"EN-US\" dir=\"ltr\"><span><span>Term/instalments in months </span></span></span></th><th><span lang=\"EN-US\" dir=\"ltr\"><span><span>Fixed interest rate </span></span></span></th><th>Annual percentage rate (APR)</th><th><span lang=\"EN-US\" dir=\"ltr\"><span><span>Instalment (per month) </span></span></span></th><th><span lang=\"EN-US\" dir=\"ltr\"><span><span>Total loan cost </span></span></span></th></tr></thead><tbody><tr><td>€ 12.000</td><td>48</td><td>6,60%</td><td>6,60%</td><td>€ 284,07</td><td>€ 13.635,36</td></tr><tr><th>Offered by</th><td colspan=\"3\">ING Bank NV, Bijlmerplein 888, 1102 MG Amsterdam</td><td colspan=\"2\">Handelsregister Amsterdam nr. 33031431</td><td> </td><td> </td><td> </td></tr></tbody></table><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Important: The amounts shown are examples.<a data-type=\"internal\" href=\"/particulier/lenen/tarieven/persoonlijke-lening\"> Check here for current interest rates.</a></span></span></span></span></span></p>"}},{"componentType":"accordion","accordionList":[{"title":"More information about this table","richBody":{"value":"<ul><li><span><span><span><span>Total loan amount - The agreed amount that you borrow.</span></span></span></span></li><li><span><span><span><span>Term/instalments in months - A personal loan has a fixed term, for example 60 months. During this term you repay the full loan amount. The amounts you have already repaid cannot be withdrawn again.</span></span></span></span></li><li><span><span><span><span>Fixed interest rate - The yearly interest rate you pay for the loan. With a Personal Loan the interest rate stays the same during the entire term.</span></span></span></span></li><li><span><span><span><span>Annual percentage rate (APR) - This percentage includes the interest you pay for the loan and any additional costs calculated per year. For an ING personal loan you need an ING current account. When taking out a personal loan and opening a current account you can choose the OranjePakket including My ING and the ING App without costs without using the debit card for payments or cash machines.</span></span></span></span></li><li><span><span><span><span>Instalment (per month) - The interest and repayment you pay each month for your loan.</span></span></span></span></li><li><span><span><span><span>Total loan cost - For the personal loan this is the total amount you pay in interest and repayment.</span></span></span></span></li></ul>"}}]},{"componentType":"sectionTitle","title":"Example 2: Situation with an extra repayment"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Suppose you borrow €12,000 and the interest rate for this loan amount is 6.60%. You want to repay your Personal Loan in 4 years (48 months). The costs are then as follows:</span></span></span></span></span></p><ul><li><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Monthly instalment: €284.07</span></span></span></span></span></li></ul><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>In month twelve, you make an extra repayment of €4,000. Your monthly instalment remains €284.07. You pay less interest, which means the amount you repay each month becomes higher. If you do not make any further extra repayments, the loan will be fully repaid after 32 months.</span></span></span></span></span></p><ul><li><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Total amount paid: €12,985.95</span></span></span></span></span></li><li><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Total interest costs: €12,985.95 – €12,000 = €985.95</span></span></span></span></span></li></ul><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Below is the summary table:</span></span></span></span></span></p><table><caption>Overview loan amount and related interest rate</caption><thead><tr><th>Total loan amount</th><th>Term/instalments in months</th><th>Fixed interest rate</th><th>Annual percentage rate (APR)</th><th>Instalment (per month)</th><th>Total loan cost</th></tr></thead><tbody><tr><td>€ 12.000</td><td>32</td><td>6,60%</td><td>6,60%</td><td>€ 284,07</td><td>€ 12.985,95</td></tr><tr><th>Offered by</th><td colspan=\"3\">ING Bank NV, Bijlmerplein 888, 1102 MG Amsterdam</td><td colspan=\"2\">Handelsregister Amsterdam nr. 33031431</td><td> </td><td> </td><td> </td></tr></tbody></table><p><span><span><span><span lang=\"EN-US\" dir=\"ltr\"><span>Important: The amounts shown are examples.<a data-type=\"internal\" href=\"/particulier/lenen/tarieven/persoonlijke-lening\"> Check here for current interest rates.</a></span></span></span></span></span></p>"}},{"componentType":"accordion","accordionList":[{"title":"More information about this table","richBody":{"value":"<ul><li><span><span><span><span>Total loan amount - The agreed amount that you borrow.</span></span></span></span></li><li><span><span><span><span>Term/instalments in months - A personal loan has a fixed term, for example 60 months. During this term you repay the full loan amount. The amounts you have already repaid cannot be withdrawn again.</span></span></span></span></li><li><span><span><span><span>Fixed interest rate - The yearly interest rate you pay for the loan. With a Personal Loan the interest rate stays the same during the entire term.</span></span></span></span></li><li><span><span><span><span>Annual percentage rate (APR) - This percentage includes the interest you pay for the loan and any additional costs calculated per year. For an ING personal loan you need an ING current account. When taking out a personal loan and opening a current account you can choose the OranjePakket including My ING and the ING App without costs without using the debit card for payments or cash machines.</span></span></span></span></li><li><span><span><span><span>Instalment (per month) - The interest and repayment you pay each month for your loan.</span></span></span></span></li><li><span><span><span><span>Total loan cost - For the personal loan this is the total amount you pay in interest and repayment.</span></span></span></span></li></ul>"}}]},{"componentType":"linkList","iconTitle":{"title":"More about"},"textLinks":[{"url":"/particulier/lenen/informatie-over-lenen","text":"Questions about borrowing money?"}]},{"componentType":"linkList","iconTitle":{"title":"Loans"},"textLinks":[{"url":"/en/personal/loans/what-does-borrowing-cost","text":"What does borrowing cost?"},{"url":"/en/personal/loans/how-much-money-can-i-borrow","text":"How much can I borrow?"},{"url":"https://mijn.ing.nl/banking/loans/personal-loan-apply","text":"Apply for a loan"},{"url":"/en/personal/loans/rates","text":"Current interest rates"}]}]}}}