Find out exactly when you will be debt-free and how much interest you will pay along the way. Enter your balance, APR and monthly payment to get a clear payoff timeline.
How to Use
- Enter your current debt balance.
- Enter the annual interest rate (APR) as a percentage.
- Enter the fixed amount you pay each month.
- Click Calculate Payoff to see your debt-free date, total interest and total paid.
Key Features
- Payoff timeline — see how many months it takes until the balance hits zero.
- Interest breakdown — total interest and total paid, shown side by side.
- Debt-free date — the calendar month your final payment lands.
- 100% private — runs entirely in your browser; nothing is sent or stored.
FAQs
What if my payment only covers the interest?
Then the balance never falls and you stay in debt indefinitely. The calculator warns you in this case: raise your monthly payment or look for a lower rate.
Can I model extra one-off payments?
The calculator assumes one fixed monthly payment. To see the effect of paying more, simply enter the higher amount as your monthly payment.
Is APR the same as the monthly rate?
APR is the annual rate. The calculator divides it by 12 to get the monthly rate applied to your balance each month.
Related Tools
Try these related tools: Loan Calculator, EMI Calculator and Compound Interest Calculator.