Quote Originally Posted by John_D
Quote Originally Posted by ciars
Personally, I pay every 4 weeks instead of every month, giving me an additional 1 payment per calendar year (13 payments every 4 weeks versus 12 monthly payments). A small yet significant (to me) interest saving at the end of the term.
That's something I would definitely do if I was paid weekly or bi-weekly but I'm currently paid monthly so some months it wouldn't work out for me.
Over paying monthly by 8.33% will have the same effect as an extra monthly payment over the year, apologies if that's not what you mean by not working for you.
Kevin