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Home › Calculators › Make Bi-Weekly Payments
One popular strategy for accelerating the payoff of a loan is to make 'bi-weekly' payments. Under the bi-weekly plan, you will make payments to your lender every two weeks instead of monthly of half of your monthly payment. One important thing to note here is that this method will result in you making 26 payments each year, which is two more than you would make if you made a payment on the 1st day of the month and middle of the month, so you will have to budget accordingly. By making bi-weekly payments, you will comparatively make an extra monthly payment each year which will reduce your amount owed. By making payments every other week, you will also save a bit on interest charges for the outstanding loan balance that would normally still be there until the end of the month.
Calculations provided by Fintactix. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circ*mstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circ*mstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
DuPage Credit Union personal loan benefits
You can consolidate your debt with a personal loan from DuPage Credit Union.
- Low rates and no fees. No origination or pre-payment fees. No fees as long as you pay on time.
- Reduce your rate with auto pay. Sign up for auto pay and reduce your rate by .25%.¹
- No payment for first 90 days. Defer your first payment for 90 days.²
Learn MoreLearn more about our personal loans
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1
Reduce your rate by .25% when you sign up to make your loan payments through Auto Pay. Reduce your rate subject to change without notice. Cannot be combined with any other offers. Must be a Member in good standing.
2
First payment may be deferred up to 90 days. Interest continues to accrue during deferred payment period.
