Monthly (standard)
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Calculator
Biweekly Payment Calculator
Compare a biweekly schedule to standard monthly payments and see the interest and time you'd save — plus the free way to get the same effect.
Biweekly plan
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You save
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Total interest: monthly vs. biweekly
A true biweekly plan pays half your monthly amount every two weeks — 26 half-payments equal 13 monthly payments a year, one extra payment. The same effect is free if you simply add 1/12 of your payment each month. Avoid third-party biweekly services that charge setup fees.
The truth about biweekly payments
Biweekly plans "work" only because they sneak in one extra payment a year. There's no magic in the two-week rhythm. You can get the same acceleration by adding one-twelfth of your payment each month — free, flexible, and under your control.
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Frequently asked questions
How do biweekly payments save money?
Paying half your monthly amount every two weeks means 26 half-payments — 13 full payments — a year, one more than monthly. That single extra payment, applied to principal, is the entire source of the savings.
Is biweekly better than just paying extra monthly?
They're equivalent. Adding one-twelfth of your payment to each monthly payment produces the same result for free, with more flexibility and no third-party fees.
Should I pay a company to set up biweekly payments?
No. You can replicate the effect yourself at no cost. Avoid services that charge setup or per-payment fees for something your own bank can do.