Debt Payoff Calculator

Debt Payoff - figures update as you type, nothing leaves your browser.

Maintained by Roshan.

Use Debt Payoff Calculator

Figures update as you type. Nothing you enter leaves this tab, and no values are stored.

Balance owedInterest rate (APR) (%)Monthly payment

At £200 per month on a £5,000 balance at 19.9% APR, the monthly-interest model reaches payoff in 33 months. The final payment is smaller than £200, so multiplying 33 by £200 overstates interest.

Explore finance calculators

Find related browser-local tools for nearby tasks without starting another search.

Browse all finance calculators

About Debt Payoff Calculator

A debt payoff calculator tells you how long it will take to clear a balance - a credit card, a loan - at a given interest rate and monthly payment, and how much interest you will pay along the way. It answers the question behind every repayment plan: at this payment, when am I actually free of this, and what is it costing me? Seeing the months and the total interest in black and white is often what motivates paying a little more each month. The tool uses the standard amortisation formula, applying interest monthly and subtracting your payment, to count the months to a zero balance. Crucially, it flags the trap where the payment barely covers the interest: if you pay only a touch more than the monthly interest, the balance shrinks agonisingly slowly, and if you pay less it never clears at all. Raising the payment even slightly can cut months or years off the timeline - try a few figures to see the effect.

Using Debt Payoff Calculator

Enter the current balance, annual interest rate and amount you plan to pay each month.
The tool applies one-twelfth of the APR each month and subtracts your payment until the balance clears.
Compare the payoff time and estimated interest after changing the monthly payment.

Where debt payoff calculator helps

Clearing a card

£5,000 at 19.9% APR paid at £200/month clears in 33 months in this monthly-interest model, with about £1,511 in interest and a smaller final payment.

Use a consistent payment assumption

This model applies the entered payment repeatedly. A card statement's changing minimum payment, new spending, promotional rates and fees can produce a different schedule. Compare scenarios with the same starting balance and rate to isolate the effect of a higher monthly payment.

Before you use the result

The estimate assumes a fixed APR, no new spending or fees, and monthly interest. Card issuers may calculate interest daily, so your statement can differ.
It calculates in your browser from the numbers you enter, so a wrong input gives a wrong result - sanity-check the figures.
Nothing is saved between visits; note down or screenshot the result if you need to keep it.

Questions about Debt Payoff Calculator

Why does my debt never pay off?

Because the payment is at or below the monthly interest, so the balance barely moves. The tool flags this - raise the payment above the interest to make real progress.

Is my data saved or uploaded?

No. Debt Payoff Calculator calculates the result entirely in this browser; the values you enter are not stored or sent to a server.