Debt Payoff Calculator
Plan how to pay off credit card or loan debt faster and see your payoff timeline with this free debt payoff calculator in your browser.
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Before you rely on this: Estimates only — not financial, tax or legal advice. Confirm current rates, fees and rules before relying on these figures.
How to use this calculator
- Enter the balance, the interest rate (APR) and your monthly payment.
- Read how long it takes and the approximate interest.
How it works
Each month interest is added, then your payment reduces the balance. The tool counts the months until it reaches zero.
Worked example
$5,000 at 18% APR, $200/month. About 32 months to clear, with roughly $1,300 of interest.
Common mistakes
- Setting a payment that barely beats the interest — it'll take years; pay more to make a dent.
- Forgetting new spending on the card adds to the balance.
Frequently asked questions
How long will it take to pay off my debt?
From the balance, interest rate and your regular payment, the tool works out the months to clear it and the total interest you'll pay.
Should I pay the highest-rate debt first?
Mathematically yes — the avalanche method targets the highest interest rate to save the most; the snowball method clears the smallest balance first for motivation.
Why must the payment exceed the interest?
If your payment is smaller than the monthly interest, the balance grows instead of shrinking, so it can never be paid off.
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Cite this tool
Zerdly. (2026). Debt Payoff Calculator. Retrieved from https://www.zerdly.com/tools/debt-payoff-calculator/
Tip: Enter any known values to calculate the remaining results.
All calculations run in your browser. Your inputs are never saved or transmitted.