Debt Payoff Calculator
Estimate how many months it could take to repay a debt and how much interest you could pay.
Inputs used
How soon could I pay off my debt?
Scenario links include your inputs in the URL fragment. Anyone with the link can read them. Use hypothetical amounts when sharing.Adjust the inputs to compare possibilities.
What this means
Your payment needs to cover interest firstA payment above monthly interest can reduce the balance in this fixed-rate model. Try increasing the payment and watch both the timeline and interest. No fees or new borrowing are modeled.
Free educational illustration only. Results depend on your assumptions and may not fit your circumstances. This tool does not provide individualized advice; do not use it as your sole basis for a financial decision. Read the financial disclosures.
Assumes a fixed APR, no fees, no new borrowing, and monthly payments. Lender calculations may differ. Payments must exceed starting monthly interest.
How this calculator works
Interest is added monthly at APR / 12, then the payment is applied. The final payment is capped at the remaining balance plus interest.
Model assumptions: Assumes a fixed APR, no fees, no new borrowing, and monthly payments. Lender calculations may differ. Payments must exceed starting monthly interest.
Model reviewed: October 10, 2026. Outputs are rounded for display; calculations use unrounded values. Defaults and return comparisons are illustrative, not recommended assumptions.
Worked example
A $5,000 balance at 18% APR with fixed $200 monthly payments illustrates payoff in 32 months and $1,313.96 in interest, with a smaller final payment. No new borrowing or fees are included.
Hypothetical example, calculated with this tool’s model; not a forecast or recommended assumption.
Load this example in the calculator ↗Common questions
Why does the calculator say to increase my payment?
A payment at or below starting monthly interest cannot pay down this fixed-rate balance. A payoff beyond the model’s 12,000-month limit is also not reported.
Does it model credit-card minimum payments?
No. You choose a fixed monthly payment and APR. The model excludes new charges and fees, and the final payment may be smaller. Actual lenders may calculate interest daily or apply different rules.