Free Debt Payoff Date Calculator
How it works
Enter a debt balance, its APR, and the amount you pay each month. The calculator simulates the payoff month by month — adding interest, applying your payment — and tells you the exact month you will be debt-free, plus how much interest the debt costs you along the way.
Debt Payoff Date Calculator
Find the exact month you will be debt-free — and what the debt costs you until then.
1 Your debt
2 Your monthly payment
3 See your payoff date
🎉 Your debt-free date
How the math works
Each month the calculator charges interest on the remaining balance — monthly interest = balance × APR ÷ 1200 — then subtracts your payment and repeats until the balance reaches zero. If your payment is smaller than the first month’s interest, the balance never falls, which is why the calculator flags that case instead of inventing a date.
Everyday uses
- Credit card payoff: turn a vague balance into a real debt-free date you can plan around.
- Motivation check: run the numbers twice — your current payment versus $50 more — and watch the date and interest change.
- Loan comparison: see the true interest cost of a personal loan before you sign.
Frequently asked questions
What if I sometimes pay extra? This estimate assumes the same payment every month. Extra payments only move the date earlier and cut the interest, so treat the result as your worst-case timeline.
Why does it say my payment is too low? If the payment does not cover the interest charged each month, the balance stays flat or grows — the debt can literally never be repaid at that amount. Even a small increase above the interest changes that completely.
Does this include new purchases on the card? No — it assumes you stop adding to the balance. New charges push the payoff date further out.