Save money on your mortgage and pay off your car loan faster with our bi-weekly loan payment plans.
Pay off debts sooner and save thousands on your loans, including mortgages,student loans, credit cards, and more by using the AutoPayPlus payment service. Choose from weekly, biweekly, bimonthly and monthly automated withdrawal options to match how you are paid. .
How a bi-weekly loan payment option might save you money.
By setting aside half of your regular mortgage payment every two weeks, you'll end up with two extra half-payments to your loan principal each year. If plan to stay in your home full term, you can save $27,725 in interest on a 30-year $250,000 mortgage at 4% APR after service fees. Plus, you can also be mortgage free 4 1/2 years earlier!
Depending on your loan amount, term and interest rate, enrolling in AutoPayPlus could make a big difference to your bottom line. The graphic below illustrates the savings on interest and term for an average American home in their 25th year of a 30 year term.