Debt payoff calculator
Balance, APR, minimum, and extra. Months saved and interest saved if you pay extra.
CopiedAbout this debt payoff calculator
One or more balances with APRs and a total monthly budget. Compare a simple avalanche (highest rate first) or snowball (smallest balance first) style allocation when the form offers both.
Each month, interest accrues per balance (APR/12), then the payment budget hits minimums and dumps remainder at the chosen target debt until balances clear.
Not credit counseling or a consolidation offer. Minimum-payment rules and fees on real cards can differ from the simplified schedule here.
FAQ
How is this amortized? Each month: interest = remaining × APR/12/100. The payment is applied after interest. Repeat until the balance is gone. Extra is added to the minimum every month. No pyramid or snowball across multiple debts.
What if the payment is too small? If minimum does not cover that month’s interest, the page says so.
What is extra? An amount on top of the minimum, every month. Default 0.