This paper presents two new algorithms that speed up the centroid computation of an interval type-2 fuzzy set. The algorithms include precomputation of the main operations and initialization based on the concept of uncertainty bounds. Simulations over different kinds of footprints of uncertainty reveal that the new algorithms achieve computation time reductions with respect to the Enhanced-Karnik algorithm, ranging from 40 to 70%. The results suggest that the initialization used in the new algorithms effectively reduces the number of iterations to compute the extreme points of the interval centroid while precomputation reduces the computational cost of each iteration.