Loan Payoff Calculator
See how long it takes to pay off any loan or credit card — and how much faster you get there with extra payments.
Updated June 2026 · Reviewed by the apitpi team · How we calculate
Payoff time
4 yrs 8 mos
Debt-free by Feb 2031
- Total interest
- $7,210
- Total paid
- $22,210
Pay off debt faster
The fastest way to cut total interest is to pay more than the minimum. Because interest is charged on your remaining balance, every extra dollar of principal you pay today saves you interest on every future month. Even an extra $50–$100 per month can shave years off a high-interest balance.
Frequently asked questions
How long will it take to pay off my loan? +
Enter your current balance, interest rate (APR), and monthly payment. The calculator works out how many months it takes to reach a zero balance and the total interest you will pay along the way.
Why does my balance barely move? +
If your payment is only slightly more than the monthly interest, almost all of it goes to interest rather than principal. The calculator shows the interest-only amount so you can pay above it and make real progress.
How much do extra payments help? +
Extra payments go straight to principal, which reduces future interest and shortens the loan. Enter an extra amount to see exactly how much interest you save and how many months sooner you become debt-free.