Fidamen

Personal Loan Refinance Calculator with Bi-Weekly Payments

This calculator compares your remaining personal loan balance with a proposed refinance option and supports monthly or bi‑weekly payment schedules. Enter your remaining balance, current APR, remaining payments, and the refinance APR, term and fees to see estimated periodic payments, total interest, and potential savings.

Results are estimates intended to help with decisions. Exact payoff amounts, payment dates, and APR disclosures come from loan contracts and lender quotes. Use this tool to compare scenarios and validate offers before accepting a refinance.

Updated Nov 21, 2025QA PASS — golden 25 / edge 120Run golden-edge-2026-01-23

Governance

Record 1858316dab11 • Reviewed by Fidamen Standards Committee

Inputs

Results

Updates as you type

Current periodic payment

$477.00

Current total interest remaining

$2,171.86

Refinance principal (including fees)

$15,150.00

Refinanced periodic payment

$135.03

Refinance total interest (over term)

$2,403.30

Estimated interest saved (current vs. refinance)

-$231.44

Payment periods saved (current - refinance)

-94

Approximate years saved

-3.6154

OutputValueUnit
Current periodic payment$477.00—
Current total interest remaining$2,171.86—
Refinance principal (including fees)$15,150.00—
Refinanced periodic payment$135.03—
Refinance total interest (over term)$2,403.30—
Estimated interest saved (current vs. refinance)-$231.44—
Payment periods saved (current - refinance)-94—
Approximate years saved-3.6154years
Primary result$477.00

Visualization

Methodology

Periodic payment formulas use standard amortization: payment = r*P / (1 - (1+r)^-n) where r is the periodic rate and n is the number of remaining periods. For bi‑weekly schedules the calculator treats a year as 26 payment periods; monthly is 12 periods per year.

Refinance principal includes a simple percentage fee (origination or closing fees) applied to the current balance when 'fees' are entered. Total interest is calculated as total payments over the term minus the financed principal (including fees).

This tool follows good data and risk practices: input validation is enforced on ranges, and numeric precision is managed to reduce rounding surprises. Referenced standards for data quality and calculation rigor include NIST guidance for trustworthy computing, ISO numeric handling practices, and IEEE recommendations for numerical stability.

F.A.Q.

Does bi‑weekly always save money?

Bi‑weekly payments can reduce interest by increasing payment frequency and effectively making one extra monthly payment per year. Savings depend on your APR, term, and whether the refinance fees offset the reduced interest. Use the calculator to compare total interest and fees in each scenario.

How are refinance fees handled?

Fees are applied as a percentage of the current balance and added to the refinance principal. This models common origination/closing fee behavior; for exact fees use the lender's quote and include any roll‑in costs separately.

Are results exact payoff figures?

No. These are estimates based on standard amortization math. Exact payoff amounts, interest accrual timing, and per‑payment rounding can vary by lender. Always request an official payoff statement before acting.

What if I make extra payments?

You may enter an optional extra payment per period. This calculator shows baseline results; extra payments reduce outstanding principal and interest but exact effects depend on lender application of extra payments. Contact your lender for how extras are applied.

What precision and limits does the tool use?

The calculator uses floating point arithmetic and pow() for exponentiation; it validates common input ranges. Very small rates near zero or extremely long terms may introduce numerical limits; see citations for numerical stability standards.

Sources & citations

Further resources

Versioning & Change Control

Audit record (versions, QA runs, reviewer sign-off, and evidence).

Record ID: 1858316dab11

What changed (latest)

v1.0.0 • 2025-11-21 • MINOR

Initial publication and governance baseline.

Why: Published with reviewed formulas, unit definitions, and UX controls.

Public QA status

PASS — golden 25 + edge 120

Last run: 2026-01-23 • Run: golden-edge-2026-01-23

Engine

v1.0.0

Data

Baseline (no external datasets)

Content

v1.0.0

UI

v1.0.0

Governance

Last updated: Nov 21, 2025

Reviewed by: Fidamen Standards Committee (Review board)

Credentials: Internal QA

Risk level: low

Reviewer profile (entity)

Fidamen Standards Committee

Review board

Internal QA

Entity ID: https://fidamen.com/reviewers/fidamen-standards-committee#person

Semantic versioning

  • MAJOR: Calculation outputs can change for the same inputs (formula, rounding policy, assumptions).
  • MINOR: New features or fields that do not change existing outputs for the same inputs.
  • PATCH: Bug fixes, copy edits, or accessibility changes that do not change intended outputs except for previously incorrect cases.

Review protocol

  • Verify formulas and unit definitions against primary standards or datasets.
  • Run golden-case regression suite and edge-case suite.
  • Record reviewer sign-off with credentials and scope.
  • Document assumptions, limitations, and jurisdiction applicability.

Assumptions & limitations

  • Uses exact unit definitions from the Fidamen conversion library.
  • Internal calculations use double precision; display rounding follows the unit's configured decimal places.
  • Not a substitute for calibrated instruments in regulated contexts.
  • Jurisdiction-specific rules may require official guidance.

Change log

v1.0.0 • 2025-11-21 • MINOR

Initial publication and governance baseline.

Why: Published with reviewed formulas, unit definitions, and UX controls.

Areas: engine, content, ui • Reviewer: Fidamen Standards Committee • Entry ID: 3072918097a3