Debt Payoff Calculator

Compare debt payoff time, total interest, and extra payment impact for credit cards, personal loans, and balances.

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.

Frequently asked questions

Is this the same as a lender payoff quote?

No. It is an estimate. Ask the lender for an official payoff quote before closing an account.

Should I pay the highest APR debt first?

Highest APR first usually saves the most interest, but some people prefer smaller balances first for motivation.

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