Debt Payoff Calculator
Find out when you will be debt-free if you pay a fixed amount each month against your total debt.
Quick answer: enter your details below and click Calculate — your result appears instantly, right here in your browser. Nothing you enter is uploaded or stored.
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Calculators
Enter your details below.
How to use
- Enter your total debt across all balances.
- Enter the average annual rate and your fixed monthly payment.
- Press Calculate to see your debt-free date in months and the interest cost.
About this tool
When several debts are combined into one total with an average rate, the same payoff maths as a single loan applies: interest accrues monthly on what is still owed, and a fixed payment above the monthly interest gradually clears it. This calculator estimates the months to debt-free, the time in years and months, and the total interest paid.
Frequently asked questions
What rate should I use for several debts?
Use a weighted average: weight each rate by the size of its debt. It is an estimate, so the real payoff may differ slightly if rates change.
What if I can only pay the interest?
Then the debt never shrinks. The payment must be above the monthly interest charge for the balance to fall at all.