See exactly when you’ll be debt-free. Our Debt Payoff Calculator shows your payoff timeline and how much you save by making extra payments.
How to Use
- Enter your debt balance and interest rate
- Set your monthly payment amount
- Add extra payments to see accelerated payoff
- Compare timelines — standard vs extra payments side by side
Common Use Cases
- Debt freedom planning: Know your exact payoff date
- Extra payment motivation: See how much time and money you save
- Budget planning: Decide how much to allocate to debt
- Loan comparison: Evaluate different payment strategies
Frequently Asked Questions
How much do extra payments help? Even small extra payments can save thousands in interest and months or years off your timeline due to compound interest reduction.
Should I pay minimum or more? Always pay more than the minimum when possible. Minimum payments are designed to maximize interest revenue for lenders.
Try our free Debt Payoff Calculator now.
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