To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. Learn More about saving through our RBC Petro Points Program opens in a new window. These ads are based on your specific account relationships with us. Save 3 ¢ per litre on gas at Petro-Canada, plus earn 20 more points when you link your Petro-Points card to any eligible RBC debit or credit card 2, 3. Mortgage Loan Auto Loan Interest Payment Retirement Amortization Investment Currency Inflation Finance Mortgage Payoff Income Tax Compound Interest Salary 401K Interest. You'll also payoff your car loan one year and. For example, you can save almost 900 in interest by paying an additional principal-only payment of 100 a month on a 60-month loan for 20,000 with a 7 interest rate. This results in savings of in interest payments. Making principal-only payments accelerates the payment of your loan and decreases the interest you pay over the life of the loan. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. By paying an extra 150.00 per month, the loan will be paid off in 6 years and 2 months. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Even if you can add an extra 10 or 20 each month. The first way is to add a little bit to your monthly payment. Relationship-based ads and online behavioral advertising help us do that. There are three ways to pay a car loan faster. We strive to provide you with information about products and services you might find interesting and useful. The final APR may differ from the APR in the above results due to additional fees that may be applicable. Please consult with qualified professionals to discuss your situation. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Bank of America, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. Bank of America and its affiliates are not tax or legal advisers. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed. You should enter figures that are appropriate to your individual situation. The figures entered on the input page of this calculator are for hypothetical purposes only. Fees and charges are payable and the calculators do not take these into account.ġ You can make additional payments at any time, however, an early termination fee may apply on a Fixed loan up until the last 3 months of your loan term.Ģ Purchase Protection, Price Protection and Extended Warranty Terms and Conditions here.Results shown are for. Use our extra payment calculator to determine how much more quickly you may be able to pay off your debt. The calculator should only be used as a guide to see how loan repayments can vary when you change the loan amount, interest rate and loan term. Results from the calculators should be used as an indication only, and they do not represent either a quote or pre-qualification or approval for a loan. comparison rate), would equate to a total amount payable of $40,690 (including a $600 establishment fee and $13 monthly loan servicing fees). Different terms, fees or other loan amounts might result in a different comparison rate.ĮXAMPLE: A personal loan of $30,000 borrowed for 5 years with an interest rate of 10.99% p.a. WARNING: These comparison rates apply only to the example or examples given and may not include all fees and charges.
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