Loan repayment calculator.
Use this free loan repayment calculator to find how long a debt takes to pay off, or the payment a term needs — with payoff date, extra-payment savings, and a full amortization schedule.
Use the Business Loan Calculator.
Results update automatically as you type. No account is required.
Enter your loan and repayment plan
Repayment plan
Choose what you want to solve for.
Your loan
The balance you are repaying and its interest rate.
Payment or term
Enter your monthly payment (payoff-time mode) or the term (monthly-payment mode), plus any extra you pay each month.
Start date
When repayment begins — sets the payoff date and schedule.
Paying $250.00/mo clears $8,000 at 19% in 3y 9m, by March 2030.
Cost of the loan
Principal vs. interest vs. fees.
Balance over time
How the loan balance falls as you repay.
Amortization schedule
Every payment split into principal and interest, with the balance falling to zero. Switch between the month-by-month view and a yearly summary.
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Jul 2026 | $250.00 | $123.33 | $126.67 | $7,876.67 |
| 2 | Aug 2026 | $250.00 | $125.29 | $124.71 | $7,751.38 |
| 3 | Sep 2026 | $250.00 | $127.27 | $122.73 | $7,624.11 |
| 4 | Oct 2026 | $250.00 | $129.28 | $120.72 | $7,494.83 |
| 5 | Nov 2026 | $250.00 | $131.33 | $118.67 | $7,363.49 |
| 6 | Dec 2026 | $250.00 | $133.41 | $116.59 | $7,230.08 |
| 7 | Jan 2027 | $250.00 | $135.52 | $114.48 | $7,094.56 |
| 8 | Feb 2027 | $250.00 | $137.67 | $112.33 | $6,956.89 |
| 9 | Mar 2027 | $250.00 | $139.85 | $110.15 | $6,817.04 |
| 10 | Apr 2027 | $250.00 | $142.06 | $107.94 | $6,674.98 |
| 11 | May 2027 | $250.00 | $144.31 | $105.69 | $6,530.66 |
| 12 | Jun 2027 | $250.00 | $146.60 | $103.40 | $6,384.07 |
| 13 | Jul 2027 | $250.00 | $148.92 | $101.08 | $6,235.15 |
| 14 | Aug 2027 | $250.00 | $151.28 | $98.72 | $6,083.87 |
| 15 | Sep 2027 | $250.00 | $153.67 | $96.33 | $5,930.20 |
| 16 | Oct 2027 | $250.00 | $156.11 | $93.89 | $5,774.09 |
| 17 | Nov 2027 | $250.00 | $158.58 | $91.42 | $5,615.52 |
| 18 | Dec 2027 | $250.00 | $161.09 | $88.91 | $5,454.43 |
| 19 | Jan 2028 | $250.00 | $163.64 | $86.36 | $5,290.79 |
| 20 | Feb 2028 | $250.00 | $166.23 | $83.77 | $5,124.56 |
| 21 | Mar 2028 | $250.00 | $168.86 | $81.14 | $4,955.70 |
| 22 | Apr 2028 | $250.00 | $171.53 | $78.47 | $4,784.17 |
| 23 | May 2028 | $250.00 | $174.25 | $75.75 | $4,609.91 |
| 24 | Jun 2028 | $250.00 | $177.01 | $72.99 | $4,432.90 |
| 25 | Jul 2028 | $250.00 | $179.81 | $70.19 | $4,253.09 |
| 26 | Aug 2028 | $250.00 | $182.66 | $67.34 | $4,070.43 |
| 27 | Sep 2028 | $250.00 | $185.55 | $64.45 | $3,884.88 |
| 28 | Oct 2028 | $250.00 | $188.49 | $61.51 | $3,696.39 |
| 29 | Nov 2028 | $250.00 | $191.47 | $58.53 | $3,504.92 |
| 30 | Dec 2028 | $250.00 | $194.51 | $55.49 | $3,310.41 |
| 31 | Jan 2029 | $250.00 | $197.59 | $52.41 | $3,112.83 |
| 32 | Feb 2029 | $250.00 | $200.71 | $49.29 | $2,912.11 |
| 33 | Mar 2029 | $250.00 | $203.89 | $46.11 | $2,708.22 |
| 34 | Apr 2029 | $250.00 | $207.12 | $42.88 | $2,501.10 |
| 35 | May 2029 | $250.00 | $210.40 | $39.60 | $2,290.70 |
| 36 | Jun 2029 | $250.00 | $213.73 | $36.27 | $2,076.97 |
| 37 | Jul 2029 | $250.00 | $217.11 | $32.89 | $1,859.86 |
| 38 | Aug 2029 | $250.00 | $220.55 | $29.45 | $1,639.31 |
| 39 | Sep 2029 | $250.00 | $224.04 | $25.96 | $1,415.26 |
| 40 | Oct 2029 | $250.00 | $227.59 | $22.41 | $1,187.67 |
| 41 | Nov 2029 | $250.00 | $231.20 | $18.80 | $956.48 |
| 42 | Dec 2029 | $250.00 | $234.86 | $15.14 | $721.62 |
| 43 | Jan 2030 | $250.00 | $238.57 | $11.43 | $483.04 |
| 44 | Feb 2030 | $250.00 | $242.35 | $7.65 | $240.69 |
| 45 | Mar 2030 | $250.00 | $240.69 | $3.81 | $0.00 |
About the Loan Repayment Calculator
A loan repayment calculator answers two related questions: how long will it take to clear a debt at a given monthly payment, or how much do you need to pay each month to clear it within a set term. Pick the mode, enter your balance and interest rate, and it returns the payoff time or payment, the total interest, a payoff date, and a full amortization schedule. It works for credit cards, personal loans, student loans, auto loans, and most fixed-rate debts.
Fixed payment vs. fixed term
In payoff-time mode you enter what you can pay each month and the calculator finds how long the debt lasts — useful when you have a set amount of disposable income to put toward a balance. In monthly-payment mode you enter a term (say 3 years) and it finds the payment needed to clear the loan in that time. Switching modes lets you approach the same debt from either direction.
How the payoff is calculated
Each month, interest is charged on the remaining balance (balance × rate ÷ 12) and the rest of your payment reduces the principal. The calculator repeats this month by month until the balance reaches zero, counting the payments and totalling the interest. The more your payment exceeds the monthly interest, the faster the balance falls.
Extra payments and paying off faster
Adding even a small extra monthly payment attacks the principal directly, and the calculator shows the interest and time it saves. Other proven tactics: make biweekly payments (26 half-payments a year equals 13 monthly payments), direct windfalls at the balance, or refinance to a lower rate. For multiple debts, the avalanche method (highest rate first) saves the most interest, while the snowball method (smallest balance first) helps with momentum.
Important disclaimer
⚠ Disclaimer: This loan repayment calculator is for general education and planning only and is not financial advice. It assumes a fixed interest rate and a constant payment; real cards and loans may have variable rates, changing minimum payments, or fees. If your payment does not exceed the monthly interest, the balance will never be repaid. Confirm details with your lender.
Related calculators
Personal Loan Calculator · Business Loan Calculator · Amortization Calculator · Loan Calculator
Loan Repayment Calculator FAQ
How long will it take to pay off my loan?
In payoff-time mode, enter your balance, interest rate, and monthly payment, and the calculator works out the number of months until the balance reaches zero, shown as years and months with a payoff date.
What is the difference between fixed payment and fixed term?
Fixed payment (payoff-time mode) sets what you pay each month and finds how long the debt lasts. Fixed term (monthly-payment mode) sets the number of years and finds the payment needed to clear the loan in that time.
What if my monthly payment is too low?
If your payment is less than or equal to the monthly interest, the balance never goes down and the loan cannot be repaid, so the calculator asks you to raise the payment, lower the balance, or reduce the rate.
How do extra payments help?
Every extra dollar goes straight to principal, so the balance falls faster and less interest accrues. Enter an extra monthly amount and the calculator shows the interest and time you save.
Does this work for credit cards?
Yes, for a fixed payment and rate it estimates the payoff time and interest. Note that real credit cards use a changing minimum payment and may have variable rates, so treat the result as an estimate.
Do biweekly payments pay off a loan faster?
Yes. Paying half the monthly amount every two weeks makes 26 half-payments a year — the equivalent of 13 monthly payments — which reduces principal sooner and cuts total interest. Check for prepayment penalties first.
Is this loan repayment calculator free?
Yes. It is free, needs no sign-up, and runs entirely in your browser.