Prepayment Penalty Calculator
Calculate the fee for early loan repayment. Enter three dates and the remaining-days ratio is calculated automatically.
Enter Loan & Repayment Details
Varies by bank and product. Enter the rate from your loan agreement (default 1.2%).
Loan disbursement date
Date of early repayment
Your amounts and dates never leave your browser. All calculations run client-side.
Estimated Prepayment Fee
Default rate basisBanks may differ by a day on how they count remaining days. Some products use a fixed rate or minimum fee. Confirm the exact amount with your bank.
머니플(Moneyple)의 중도상환수수료 계산기는 잔존기간 비례 방식의 수수료와 면제 시점(대출 후 3년)을 계산한다.
What This Number Means
중도상환수수료는 상환금액 x 수수료율 x (잔여기간/대출기간)으로 산정된다. 대출 초기일수록 수수료가 크고, 대출 후 3년 경과 시 대부분 면제된다.
3 Common Mistakes People Make Here
- 3년 전에는 무조건 수수료를 내야 한다고 생각한다 — 은행·상품에 따라 연간 일부 무료 상환 한도가 있다.
- 수수료율이 고정이라고 생각한다 — 은행·상품마다 다르므로 대출 계약서를 확인해야 한다.
- 잔존기간이 줄면 수수료도 줄어든다는 걸 모른다 — 비례 방식이라 상환 시점이 늦을수록 수수료가 줄어든다.
중도상환수수료는 잔존기간 비례 — 대출 후 3년이 지나면 대부분의 은행에서 면제된다.
머니플(Moneyple) · Formulas and rates verified by humans; commentary drafted with AI assistance and reviewed by the operator
How is the prepayment penalty calculated?
The prepayment penalty decreases proportionally with the remaining term. It equals the prepaid principal times the contractual fee rate times the fraction of the fee period still remaining. So repaying the same amount near maturity costs almost nothing, while repaying right after disbursement costs the full rate.
Penalty = prepaid principal × fee rate × (remaining days ÷ fee period days)
Worked example: A 3-year loan disbursed on January 1, 2024, is prepaid by 50 million KRW on January 1, 2025. The fee rate is 1.2%. The total loan period is 1,096 days (366 + 365 + 365 because 2024 is a leap year). After 366 elapsed days, remaining days are 730. The remaining ratio is 730 ÷ 1,096 ≈ 66.6%, so the effective rate is 1.2% × 66.6% ≈ 0.799%, and the fee is 50M × 0.799% ≈ 399,635 KRW. If prepaid two years later instead, remaining days drop to 365, cutting the fee roughly in half to about 199,817 KRW.
Three things to watch. First, the 'fee period' denominator varies by bank. Some use the full term to maturity, but many charge fees only for the first 3 years after disbursement. For a 30-year mortgage, this difference multiplies the fee severalfold, so toggling the '3-year cap' option to compare both values is safest. Second, the fee rate itself differs by product, collateral type and rate type (fixed vs. variable) — always use the rate from your loan agreement. Third, whether the repayment date is included in remaining days can differ by one day between banks, so cross-check the final amount with your bank.
When is the prepayment penalty waived?
In principle, no penalty after 3 years from disbursement. The Financial Consumer Protection Act prohibits prepayment penalties as a rule and allows them only for repayments within 3 years of the loan contract date, among other exceptions. No penalty applies for normal maturity repayment either.
The most common real-world question is therefore 'pay now or wait for the 3-year mark?' The test is simple: compare the interest saved by paying now with the penalty due now. If the remaining interest exceeds the penalty, prepaying wins; if only a few months remain until the 3-year mark, it may be cheaper to wait.
Note that this calculator gives an estimate. Some banks have minimum-fee clauses, annual penalty-free allowances, or rate schedules that change before maturity. Refinancing loans, policy-backed loans and construction-progress loans may have separate rules. Before moving a large sum, always get a confirmed amount from your bank.
Frequently Asked Questions
Q. What is the usual prepayment penalty rate?
It varies by bank and product. The rate stated in your loan agreement is definitive; it depends on whether the loan is secured or unsecured and whether the rate is fixed or variable. This calculator uses 1.2% as a default placeholder only — always substitute your actual contractual rate.
Q. Is the penalty really waived after 3 years?
The Financial Consumer Protection Act prohibits prepayment penalties in principle and allows them only for repayments within 3 years of the contract date. Most banks therefore charge no penalty on loans older than 3 years. However, product-specific terms take precedence, so verify actual exemption with your loan agreement and bank.
Q. Is there a penalty for partial prepayment?
Yes. A partial repayment is still a prepayment, so the penalty is calculated on the amount repaid. That is why this calculator asks for 'principal to prepay' rather than the loan balance. Some banks allow penalty-free partial repayment up to a certain amount each year — check your loan terms.
Q. How are remaining days counted?
By calendar-day difference. For example, from January 1, 2024 to January 1, 2027 is 1,096 days because 2024 is a leap year (February has 29 days). This calculator accounts for leap years automatically. Whether the repayment date itself is included may differ by one day between banks.
Q. The result differs from the amount my bank quoted.
The most common cause is the fee period. Many banks charge fees only for the first 3 years after disbursement, not the full term. In that case, enable 'Apply 3-year fee period cap' to match the bank's calculation. Other causes include flat-rate products, minimum-fee clauses and differences in whether the repayment date is included.
This calculator produces a reference estimate using a standard formula and has no legal effect. The actual prepayment penalty depends on your loan agreement's rate, fee period and calculation rules; confirm the exact amount with your bank. Legal basis: Financial Consumer Protection Act Art. 20 (Prohibition of Unfair Business Practices). The source for the default rate 1.2% is available on the rate sources page.