Loan Payoff Calculator
See how much faster you pay off a loan — and how much interest you save — by adding extra each month.
Estimates for education only — not financial advice. Assumes a fixed rate and constant payments.
How it works
- 1Enter your current balance, rate, and monthly payment.
- 2Add an extra monthly amount.
- 3See how many months and how much interest you save.
Use cases
- Decide whether rounding up your payment is worth it.
- See the payoff date for your current plan.
- Compare aggressive vs. minimum payoff strategies.
Frequently asked questions
What if my payment is too low?
If the monthly payment does not cover the monthly interest, the balance never reduces — the tool flags this instead of showing a payoff date.
Does it assume a fixed rate?
Yes. The simulation uses a constant rate and constant payment each month.
Is my data stored?
No. Everything runs in your browser.
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