How the early repayment fee is calculated
Most financial companies use this formula.
Fee = amount repaid early × fee rate × (fee period − days elapsed) ÷ fee period
The fee period is usually 3 years from the loan and the fee is waived after that. The fee shrinks over time.
2025 rule change
From 2025, financial companies may charge early repayment fees only within actual costs such as funding losses, so fee rates are lower than before. Check the exact rate in your loan agreement or on the Korea Federation of Banks consumer portal.
Repay or not?
If the interest saved over the remaining term exceeds the fee, repaying early pays off. The calculator compares the two amounts.
This calculator gives estimates based on published laws and criteria and is not legal advice. Before acting, be sure to check with the official agencies below.