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Debt Payoff Calculator
See exactly how many months it will take to pay off a debt and how much total interest you’ll pay at your current payment amount.
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How this debt payoff calculator works
Paying off a debt is a race between your fixed monthly payment and the interest accruing on the balance. Each month, interest is charged first, and whatever is left of your payment reduces the principal.
The method
We simulate your loan or credit balance month by month: calculating interest on the remaining balance, applying your payment, and repeating until the balance reaches zero. This shows the true number of months and total interest cost at your current payment level.
This calculator is for general planning purposes and assumes consistent payments with no additional charges.
Last reviewed August 2026