↘FINANCE
Loan Payoff Calculator
Estimate how long an existing loan will take to repay and how much interest remains from the current balance, rate and payment.
Enter your values
Your inputs stay in this browser.ⓘ
Privacy-friendly: your inputs are processed locally in your browser.
Formula
The calculator simulates monthly interest and principal payments until the balance reaches zero.
Monthly interest = remaining balance × annual rate ÷ 12
How it works
1
Enter the remaining balance.
2
Enter the annual interest rate and monthly payment.
3
The calculator simulates payments and reports payoff time and estimated remaining interest.
Important notes
If the monthly payment does not exceed the first month's interest, the loan cannot be paid down under this fixed-payment model.
Actual loans can use fees, changing rates or different payment timing.