Overwhelmed with debt? A debt repayment plan is a good place to start.

Use our loan payoff calculator to help you pay off loans faster—so you can save money on interest.

This loan interest calculator tool can help you see the total amount of interest you’ll pay over the lifespan of the loan and determine how much you can afford to realistically put toward your debt repayment each month. The more you’re able to put toward paying off your loan(s), the sooner you’ll be debt free and the less interest you’ll pay in the long run.

Our calculator can help you estimate when you will payoff your debts such as auto loans, student loans, personal loans, mortgages and other fixed loan types.

Use our loan payoff calculator to help you pay off loans faster—so you can save money on interest.

This loan interest calculator tool can help you see the total amount of interest you’ll pay over the lifespan of the loan and determine how much you can afford to realistically put toward your debt repayment each month. The more you’re able to put toward paying off your loan(s), the sooner you’ll be debt free and the less interest you’ll pay in the long run.

Our calculator can help you estimate when you will payoff your debts such as auto loans, student loans, personal loans, mortgages and other fixed loan types.

I am looking to calculate

Input some information about your current credit card and loan debts, including how much you owe, interest rate, and minimum monthly payment amount.

Use our calculator to compare the debt snowball and avalanche methods. Debt snowball focuses on the smaller balances first, while debt avalanche pays off debts with the highest interest rates first.

Figure out how making extra payments can help you get out of debt faster and save you money on interest.

Predict when you’ll pay off individual loan and credit card debt accounts with each repayment plan as it also functions as a loan repayment calculator.

See how much money each debt payoff plan will save you on interest, and estimate your total interest paid for each strategy as this tool also serves as a loan interest calculator.

There are two ways to implement the loan payoff calculator:

Then, there are two ways to calculate your loan using the loan payoff calculator: you can**Calculate by Loan Term** or **Calculate by Loan Payment.**

**Loan amount:**To determine the amount of time it will take to fully repay your loan given a certain monthly payment**Loan APR (interest rate):**To figure out how much you’ll need to pay each month to finish repaying your loan in a certain amount of time.

Then, there are two ways to calculate your loan using the loan payoff calculator: you can

Plug in the amount you owe, or the loan amount. For example, let’s say you have a $20,000 loan. Add in your annual percentage rate (APR). In this example, we’ll say it’s 10%.

You'll also need to select the number of months of your term. From there, you can add in additional payments to see how much faster you can repay the loan. In this case, figure you’re putting an extra $200 toward your loan with a 60-month loan term.

You’d see your estimated monthly payment: $424.94.

And the amount of interest you’ll pay over time: $5,296.40.

You'll also need to select the number of months of your term. From there, you can add in additional payments to see how much faster you can repay the loan. In this case, figure you’re putting an extra $200 toward your loan with a 60-month loan term.

**Months to Payoff:**60 months**Years to Payoff:**5 years**Interest Paid:**$5296.40

You’d see your estimated monthly payment: $424.94.

And the amount of interest you’ll pay over time: $5,296.40.

If you decided instead to calculate based on your monthly payment, presuming the same loan amount and APR but a $500 monthly payment, the calculator would show that you’d pay off the loan in 49 months, or just over four years, and pay $4,500 in interest. Just make sure you don’t get hit with an early repayment penalty.

**Months to Payoff:**49 months**Years to Payoff:**4 years**Interest Paid:**$4500

Our loan payoff calculator uses the loan amounts and interest rates you provide to figure out how much your monthly payments will be and when you will have fully repaid your debts. The real benefit of the loan repayment calculator is that it provides a timeline for you to see the period you will continue to make those regular payments in order to pay off your loan. This monthly loan payment calculator also works for an array of loan types.

Once you have used the loan payoff calculator to help you determine how much you will be paying each month, you can use that to help you determine if you qualify for a personal loan or a home loan as well as other types of loans. By calculating loan payoff you begin the process to see if you can cover unexpected expenses and/or consolidate debt. Our monthly loan payment calculator also allows you to see how much interest you’re paying monthly and how much of your payment is being put towards your debt.

If you have multiple debts, you should consider the debt payoff calculator. You simply plug in your debt details and the calculator will display how you'll save in interest.

If you have multiple debts, you should consider the debt payoff calculator. You simply plug in your debt details and the calculator will display how you'll save in interest.

Increase the amount you pay each month or your number of monthly payments: Seems like a no-brainer, right? You don’t have to stop at fulfilling your minimum monthly payment, assuming you have the funds to do so. The more you pay toward your loan payoff, the quicker you’ll be debt-free. Whether you make a singular extra payment every year, increase your payoff strategy to include bimonthly payments, or round your monthly there are plenty of options for throwing more money at your debt—just make sure you’re meeting your essential needs.

Boost your income: Easier said than done, but adding a side hustle, requesting a raise, and other ways to increase your income can help you pay off your loans more quickly if you direct the funds to your loan payoff plan.

## Pay off your loans faster

Boost your income: Easier said than done, but adding a side hustle, requesting a raise, and other ways to increase your income can help you pay off your loans more quickly if you direct the funds to your loan payoff plan.

If your credit score has improved, you may be eligible for a loan with a lower interest. Check out loan offers best suited to match your needs.

When it comes to debt repayment calculators and debt in general, there are certain terms that come up frequently and need further clarification. Here are the ones it’s important to know:

**Annual percentage rate (APR)**: This is sort of a fancy term for interest rate, or the cost of taking out a loan, but unlike interest rates, your APR includes other charges or fees to give you a better sense of how much you’re actually paying.**Extra payments**: Any amount more than the monthly minimum payment or any separate payment you make in addition to your minimum monthly payment.**Loan term**: The total length of your original installment loan, usually represented in months, ranging from 12 to 96 months, depending on the type of loan.**Monthly payment**: The amount you pay on a particular loan, including both the principal and interest.**Remaining balance**: The amount you have left to pay on your loan. If you started out with a principal of $20,000, and you’ve paid $12,000 toward that, your remaining balance would be $8,000.