How do I calculate how long it takes to pay off a loan?

Payoff time = -log(1 − (monthly rate × balance ÷ payment)) ÷ log(1 + monthly rate). Increasing your monthly payment by even a small amount can significantly shorten payoff time.

Debt Payoff Calculator

Estimate how long it will take to pay off a balance at a fixed payment amount.

This tool runs in your browser. None of your data is saved or sold.

Balance ($)

Annual rate (%)

Monthly payment ($)

Monthly fees, optional ($)

About This Calculator

This calculator answers the question 'how long until I'm out of debt?' given a fixed monthly payment. It's useful for any revolving balance — credit cards, personal loans, or lines of credit — where you want to commit to a set payment and see the finish line.

Estimates only — not financial, tax, legal, or investment advice. Verify important results with a qualified professional before making decisions.

months to payoff: iterative balance(n+1) = balance(n) × (1+r) − payment; count months until balance ≤ 0; total paid = months × payment; interest paid = sum of monthly interest charges; payoff date = today + months