Debt Payoff Calculator
Compare debt payoff time, total interest, and extra payment impact for credit cards, personal loans, and balances.
Calculate your result
Change any value and the estimates update immediately. Nothing entered here is sent to our server.
What this payoff estimate shows
The calculator estimates how long a balance may take to pay off based on APR, monthly payment, and optional extra payment. It also estimates interest paid over the payoff period.
Why extra payments matter
Extra principal payments can reduce both payoff time and interest, especially on high-rate balances. Even a small recurring extra payment can change the total cost over time.
What to verify
Confirm whether your lender charges fees, compounds daily, requires minimum payments, or applies extra money to principal. Those rules can change the exact result.
Budget caution
Do not choose an aggressive payment that leaves no cash buffer. A payoff plan should still leave room for rent, food, utilities, insurance, and emergency savings.
How to use it
- Enter balance, APR, required monthly payment, and optional extra payment.
- Review payoff time and total interest.
- Increase or decrease the extra payment to find a realistic plan.
How the calculation works
The model accrues monthly interest from the entered APR and subtracts the combined required and extra payment until the balance reaches zero. It assumes no additional purchases, late fees, rate changes, or promotional-rate expiration.
Worked example
For an $8,500 balance at 22.9% APR, compare a $250 payment with a $325 payment. This demonstrates why even a modest recurring extra payment can change payoff time on high-interest debt.
Frequently asked questions
Which debt should I pay first?
The highest-rate method often reduces interest, while the smallest-balance method may provide faster milestones. This tool models one balance at a time.
Can the issuer change my APR?
Depending on the agreement and law, rates can change. Use the APR on the latest statement.
Calculation method and page content last reviewed: July 20, 2026.
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