Debt Payoff Calculator
See exactly when you will be debt-free with the snowball or avalanche method. Add each debt, set an extra monthly payment, and get your debt-free date, total interest and payoff order. Everything runs in your browser — your numbers are never sent anywhere and nothing is stored.
Payoff order
| # | Debt | Cleared in | Interest paid |
|---|
How to use the debt payoff calculator
- Enter each debt’s name, current balance, APR and minimum payment. Use + Add another debt for as many as you have.
- Set an extra monthly payment — the amount you can pay beyond the minimums each month.
- Pick Avalanche (highest APR first, saves the most interest) or Snowball (smallest balance first, quick wins).
- Click Calculate to see your debt-free date, total interest and the order debts are cleared.
The calculator pays the minimum on every debt, then applies your extra payment — plus the minimums freed up as debts are cleared — to the current target debt, month after month, until everything is paid off.
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Frequently asked questions
What is the difference between the snowball and avalanche methods?
The avalanche method targets the debt with the highest interest rate (APR) first, which saves you the most money in interest overall. The snowball method targets the smallest balance first, which clears individual debts faster and can keep you motivated. Both pay the minimum on every debt and throw any extra at the current target.
How does the extra payment work?
Each month you pay the minimum on every debt, then the extra monthly payment is added on top and applied to the one target debt. When a debt is fully paid off, its freed-up minimum rolls into the extra amount and is applied to the next target — this "snowballing" of payments is what accelerates the payoff.
Why does it warn that the minimum payment does not cover the interest?
If a debt’s monthly interest is larger than its minimum payment, the balance grows every month and the debt can never be paid off by minimums alone. The warning flags this so you can raise that minimum or direct extra payment to it right away.
Is my financial data sent anywhere?
No. The entire simulation runs in your browser — your balances, rates and payments are never uploaded to a server and nothing is stored. Reloading the page clears everything.
How is the interest calculated?
Interest is applied monthly using a simple periodic rate: the APR is divided by 12 to get the monthly rate, which is charged on the remaining balance each month before payments are applied. This is a close approximation of how most credit cards and loans accrue interest.
Is this financial advice?
No. This tool is an estimate for planning and comparison only and does not account for fees, changing rates, promotional periods or compounding differences at your specific lender. For decisions about your finances, consult a qualified professional.