Debt Payoff Calculator
Build a payoff plan with clear interest savings.
Compare your minimum payment to an accelerated plan with extra payments. The calculator shows payoff time, total interest, and a schedule preview.
Your information
Payments are monthly. Extra payments go straight to principal.
Results
Compare the standard and accelerated payoff plans.
Total debt balance
$15,000
Weighted average APR
18.00%
Accelerated payoff time
30 months
Accelerated total interest
$3,735
Interest saved with extra payments
$701
Estimated payoff date
Aug 2028
Standard plan reference
Minimum-only payoff: 36 months and $4,435 in interest.
You could be debt-free in about 30 months with $3,735 in interest.
Definitions
- APR
- Annual percentage rate.
- USD
- United States dollars.
- FAQ
- Frequently asked questions.
Schedule preview
First 12 months of the accelerated plan, showing interest and principal applied each month.
Assumptions
- Interest compounds monthly at the APR provided.
- Payments are applied once per month.
- Extra payments reduce principal immediately.
Last updated: 2026-02-01
FAQ
What if my payment is too low?
If your payment is less than the monthly interest, the balance will grow. Increase your payment to reduce the balance.
Does this include fees?
No. Add estimated fees to your balance or increase the APR to account for them.
Should I pay extra each month?
Extra payments reduce interest and payoff time, but ensure you still have an emergency fund.