Debt payoff calculator
Enter balance, interest rate and monthly payment to see the payoff time.
Debt payoff calculator
See how long it will take to clear a debt or credit card, and the total interest you’ll pay, from the balance, the annual interest rate (APR) and a fixed monthly payment.
How it works
Each month interest is added at the monthly rate (APR ÷ 12) and your payment reduces the balance. If your payment is smaller than the monthly interest, the balance never falls — the calculator warns you. Paying a little more each month cuts both the time and the interest sharply.
Frequently asked questions
Why does my debt never get paid off? Your monthly payment is less than the interest added each month, so the balance keeps growing.
How do I pay off debt faster? Increase the monthly payment, or lower the rate (e.g. with a balance transfer) — both reduce total interest.