Debt payoff calculator
How many months to pay off a loan, card or overdraft, and how much interest you'll pay.
How it works
Each month: interest = balance × rate / 12, then balance = balance + interest − payment, until it hits 0.
Results are for guidance only and do not replace professional advice.
Worked example
With the default values:
- Balance owed4500
- Annual rate (%)14.9
- Monthly payment200
- Extra payment you could add50
you get:
- Debt paid off in2 years 3 months
- Total interest paid€810.37
- Total repaid€5,310.37
- Payoff dateJanuary 2029
Frequently asked questions
How does the “Debt payoff calculator” tool work?
Each month: interest = balance × rate / 12, then balance = balance + interest − payment, until it hits 0.
What do I need to enter?
Just fill in: balance owed, annual rate, monthly payment, extra payment you could add. The result updates as you type.
Can you give an example?
Balance owed: 4500; Annual rate (%): 14.9; Monthly payment: 200; Extra payment you could add: 50 → Debt paid off in: 2 years 3 months; Total interest paid: €810.37.
Is this calculator free, and is my data private?
Yes. HOD Calc is completely free with no sign-up. The calculation runs in your browser: nothing you type is sent or stored.