When you set up your mortgage repayment plan, you can choose between a standard repayment plan or a bi-weekly repayment plan.

With biweekly payments, you pay half of the monthly mortgage payment every 2 weeks, rather than the full balance once a month. This is comparable to 13 monthly payments a year, which can result in faster payoff and lower overall interest costs.

Use this handy calculator to compare payments and interest between standard monthly loan payments and a bi-weekly payments.

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 cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.