Debt payoff estimate
Loan payoff target-date calculator
Estimate the fixed monthly payment and modeled interest needed to repay a loan balance within an entered number of months.
Find a level monthly payment estimate for a target payoff horizon. Your entries stay in this browser. This is a scenario, not a creditor payoff quote or individualized financial advice.
Enter the balance, fixed APR, and target number of months.
The model assumes monthly interest at APR ÷ 12, the same payment at each month-end, a constant rate, no new borrowing, fees, or missed payments, and no payment-date interest adjustment. The final payment is capped at the remaining balance and interest. Actual lender calculations and payoff quotes can differ.
How to use this estimate
Compare the payment with your budget and your loan agreement. If it is more than you can pay, try a longer horizon to see the modeled tradeoff, then verify any payment changes with the lender or servicer. For an existing card balance, the CFPB explains that payoff estimates use the current balance and assume no further charges; new charges and account terms can change the result. CFPB guidance last reviewed January 22, 2024.
For a quick estimate using a payment you already have in mind, use the existing debt payoff planner. For a fixed-rate personal loan offer, compare entered terms and fees in the personal loan calculator.
How it works
Enter your current balance, fixed annual APR, and the number of months until your target payoff. The estimate solves for a fixed monthly payment under the assumptions shown.
Good to know
How is the payment calculated?
The tool uses a standard amortization formula with annual APR divided by 12, equal month-end payments, and a constant rate. The final payment can be adjusted for cent rounding in a real loan; use your lender's payoff terms for an exact amount.
Does this match my creditor's payoff quote?
No. It excludes new charges, fees, rate changes, late payments, and daily-interest timing. A creditor's payoff amount may include interest through the payoff date. Check your statement or request a current payoff quote.
What does the source say about payoff estimates?
The CFPB explains that card payoff estimates are based on the current balance and assume no further purchases; actual terms and charges can change the result. CFPB guidance last reviewed January 22, 2024.
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