About paying off debt
This debt payoff calculator shows how long it will take to clear a loan or credit-card balance and how much interest you will pay, based on the balance, the APR and your fixed monthly payment. It makes the real cost of debt clear and shows how a bigger payment saves time and interest.
How Debt Payoff works
How to use it
- Enter the balance owed and the APR.
- Enter your monthly payment.
- See the payoff time, total interest and total paid.
How interest builds
Each month interest is added on the remaining balance, then your payment is subtracted. Early on, much of the payment goes to interest; as the balance falls, more goes to the principal.
Pay more, save more
Your payment must exceed the first month's interest, or the balance never shrinks. Even a small increase in the monthly payment can cut months and a lot of interest.
Common uses
- See how long to pay off a debt
- Find the total interest you will pay
- Compare different monthly payments
- Plan to clear a credit card
- Understand the cost of a loan
- Motivate faster repayment
- Check if a payment is enough
- Budget your debt repayment
Frequently asked questions
How long will it take to pay off my debt?
Enter the balance, APR and monthly payment; the tool shows the payoff time and interest.
Why does my balance barely move?
Most of an early payment goes to interest; the payment must beat the monthly interest to reduce the balance.
How much interest will I pay?
The tool totals the interest over the full payoff period.
Does a bigger payment help?
Yes — it cuts both the time and the total interest significantly.
What APR should I use?
Use your card or loan rate (credit cards are often 15–25%).
Is my data uploaded?
No — it calculates in your browser.
Does it handle extra one-off payments?
It models a fixed monthly payment; extra payments would shorten it further.
Is it free?
Yes — completely free with no sign-up.