The Debt Reduction Calculator allows you to input your current loan details to work out how long it will take you to pay off your debts. You can input your variables onto the screen and then click on the "Calculate Now" button. Your results will show you how long it will take you to clear your loan. You will also see a graph showing the balance of the loan until expiry, a pie chart showing the percentage of interest and repayments and a schedule of the progressive balance on the loan.
You can also play around with your calculations and see the results if you "Put more money into your loan" or were able to achieve a "Higher / lower interest rate" by selecting the applicable tab. Please note that these tab calculations work independently of each other, so if you want to see both the extra money and the higher / lower interest rate, you will need to increase the repayment amount or change the interest rate in the original input section and then go to the applicable tab.
