See how long it will take to pay off your debt and how much interest you will pay in total — and how much faster you could be debt-free with extra payments.
Enter the yearly APR charged on this debt
The amount you pay toward this debt every month
Any additional amount you can put toward this debt each month
Time to Pay Off Debt
--
-- months
Starting balance--
Monthly payment used--
Total interest paid--
Total amount paid--
Interest as % of total paid--
Principal vs Interest Breakdown
-- Principal-- Interest
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How Does the Debt Payoff Calculator Work?
This calculator estimates how long it will take to pay off a debt by simulating your balance month by month. Each month, interest is added to your remaining balance based on your annual interest rate, and then your monthly payment is subtracted. This repeats until your balance reaches zero, giving you an accurate payoff date and total interest figure — even when your last payment is smaller than the rest.
Why Extra Payments Matter
Every extra dollar you pay above your minimum goes straight toward reducing your principal balance, which means less interest accrues the following month. Even a small extra monthly payment can shave months — or years — off your payoff timeline and save a significant amount in interest.
Debt Avalanche vs. Debt Snowball
If you have more than one debt, the avalanche method (paying off the highest interest rate debt first) saves the most money over time, while the snowball method (paying off the smallest balance first) can build momentum through quick wins. Run each debt through this calculator separately to compare them.
What This Calculator Applies To
This calculator works for credit card debt, personal loans, store cards, lines of credit, and any other debt with a fixed monthly payment and reducing-balance interest. It supports multiple currencies including USD, GBP, EUR, CAD, AUD, INR, and BDT.
Frequently Asked Questions
A debt payoff calculator estimates how long it will take to pay off a debt — such as a credit card, personal loan, or line of credit — based on your current balance, interest rate, and monthly payment. It also shows the total interest you will pay over the life of the debt.
Each month, interest is added to your balance based on the annual rate divided by 12, and then your payment is subtracted. This calculator repeats that process month by month until the balance reaches zero, adding up the total interest paid along the way.
If your monthly payment is lower than the interest charged each month, your balance will never go down and the debt will never be paid off. The calculator will warn you and tell you the minimum payment needed to start reducing the balance.
Any extra amount you pay above your regular monthly payment goes directly toward reducing your principal balance. This lowers the interest charged in future months, which shortens your payoff time and reduces the total interest you pay.
The avalanche method pays off the highest interest rate debt first, saving the most money. The snowball method pays off the smallest balance first for quicker wins. If you have multiple debts, run each one through this calculator to compare.