Debt Payoff Calculator
Enter what you owe, the APR and what you pay each month. FetchCalc will tell you when it's gone, what the interest costs you — and precisely what adding a little more each month buys back.
Method and copy last reviewed · How our calculations work
Your debt today
The whole point of this tool
When this debt disappears
Paying the minimum you entered
4 yr 8 mo
$5,340.51 interest · debt-free Jun 2031
With $50.00 extra
3 yr 6 mo
$3,847.88 interest · debt-free Apr 2030
- New monthly payment
- $300.00
- Time saved
- 1 yr 2 mo
- Interest saved
- $1,492.63
Over the life of this debt, $50.00 a month — $2,100.00 of extra payments in total — buys back 1 yr 2 mo of payments and $1,492.63 you'd otherwise hand to your lender.
Payoff schedule
42 payments · final payment Apr 2030
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 2026 | $600.00 | $321.79 | $278.21 | $8,221.79 |
| 2027 | $3,600.00 | $1,690.58 | $1,909.42 | $6,312.37 |
| 2028 | $3,600.00 | $1,204.36 | $2,395.64 | $3,916.73 |
| 2029 | $3,600.00 | $594.37 | $3,005.63 | $911.10 |
| 2030 | $947.88 | $36.78 | $911.10 | $0.00 |
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Fetch explains your results in plain English. Every number comes from re-running the calculator above, so the figures are exact — never generated.
Why extra payments punch above their weight
Every month, your lender charges interest on the balance outstanding. Pay only the interest and you'll owe the same amount forever. Pay a little more and the balance falls — and next month's interest charge falls with it.
That's why an extra amount that looks trivial next to the balance can remove years from a payoff on a high-APR debt. You're not just paying down the balance; you're cancelling all the interest that balance would have generated for the rest of the loan.
The corollary matters too: extra payments made now are worth more than the same money paid later, because they cancel more months of future interest.
If you're weighing a single loan to clear several balances at once, the debt consolidation calculator puts your current debts and a consolidation offer side by side, origination fee included. To find room for extra payments, the paycheck planner shows which payday covers which bill.
Frequently asked questions
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FetchCalc is an independent calculator and educational service. We are not a lender, broker, or financial adviser, and nothing here is financial advice. Estimates are for planning only; your actual offer and payment will come from your lender.