Debt Payoff Date Calculator
Estimate the exact date your debt will be fully repaid based on your current balance, interest rate and regular repayment amount.
Your results
Calculation breakdown
- Simulation
- amortise balance monthly at given rate and repayment
- Payoff date
- today's date + months to pay off
Worked example
A $12,000 debt at 10% p.a. repaid at $400 a month would be cleared in about 33 months from today, with roughly $1,700 paid in interest along the way.
Assumptions
- Assumes the repayment and interest rate stay constant for the whole period.
- Uses today's date as the calculation's starting point.
- Does not model extra lump sum payments; see the early loan repayment calculator for that.
How this calculator works
This calculator simulates a reducing-balance debt paid off with a fixed regular repayment and projects forward to find the actual calendar date the balance reaches zero. It also shows the total interest paid over that time, using today's date as the starting point.
Frequently asked questions
What if my repayment is too low to ever clear the debt?
If your repayment does not cover the interest charged each period, the balance will never reduce; the calculator will flag this so you know to increase your repayment.
Does this account for interest rate changes over time?
No, it assumes the interest rate stays constant for simplicity; a real variable-rate debt may take a different time to clear if rates move.
How can I bring my payoff date forward?
Increasing your regular repayment, making occasional lump sum payments, or negotiating a lower interest rate will all bring the payoff date forward; try different repayment amounts here to compare.
Results are estimates only and are not financial, tax, legal or credit advice.