Alternative Payment Frequencies

Compare weekly, biweekly, monthly, and quarterly payments for the same loan — more frequent payments slightly reduce total interest.

Loan amount ($)

Annual interest rate (%)

Term (years)

Monthly payment

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Monthly — total cost

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Biweekly payment

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Biweekly — total cost

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Weekly payment

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Weekly — total cost

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Quarterly payment

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Quarterly — total cost

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Each row assumes the same loan is paid off in the same number of years. Biweekly is 26 pmts/yr, weekly 52, monthly 12, quarterly 4.