Debt payoff calculator

How to use it

Enter the current balance, annual percentage rate, and fixed monthly payment using numbers without dollar signs or commas. Results update as you edit; you can also select Calculate payoff. The estimate applies one twelfth of the annual rate each month, then the payment. It assumes no new borrowing, rate changes, or extra fees.

Try an example

A $1,200 balance with 0% interest and $100 monthly payments takes 12 months. Increase the rate to see how interest changes the timeline, then try a payment you could consistently afford.

A large-loan example

A $500,000 balance at 6% APR with a $3,000 monthly payment takes 360 payments (30 years), with about $577,742 in interest. At 0% APR, the same balance and payment take 167 months, with a final payment of $2,000.

When the payment is too small

If a payment does not exceed the modeled monthly interest, this schedule cannot repay the balance. The tool shows the first month's interest so you can compare it with your payment. For example, $500,000 at 18% APR accrues $7,500 in modeled interest in the first month; a $3,000 payment cannot reduce that balance. Estimates that would exceed 100 years receive a separate message. Real cards may use daily interest and changing minimums; compare with your statements.

Use the schedule

Download the CSV to inspect monthly interest, principal, and the remaining balance. Check the first row and final payment before using it in your plan.

Next: compare legitimate debt-help options or check your DTI.

Educational estimate. Calculations run in your browser; the values are not submitted to Dollar Feeder.