Free calculator

Personal Loan Payoff Calculator

Calculate your personal loan payoff date and total interest. See how extra payments shorten the term and how your loan compares against higher-rate debts.

No account needed to calculate — you can save your plan at the end.

1 of 4 steps done

  1. Enter your debts — done
  2. Set your budget
  3. Choose a strategy
  4. See your result

Your Debts

Monthly Budget

Take-home pay$4,800.00
− Essentials−$2,300.00
− Minimum payments−$335.00
Available for extra$2,165.00
$100.00 / mo extra
$0$2,165.00

Payoff Strategy

Avalanche minimizes total interest: attack the highest-rate debt first.

Your projected result — based on the 2 debts in this plan.
Change any number and it updates instantly.

Debt-Free In
3y 4m
Est. January 2030
Total Interest
$3,345.23
vs Minimums
−$1,580.81
Monthly Pmt
$435.00

Free account - track payments and payoff changes

Payoff chart and coach read

Compares your selected plan against paying minimums only.

Coach Keep

Avalanche is buying back 16 months

Evidence: The selected plan reaches zero in 3y 4m vs 4y 8m with minimums only.

Action: Keep $100.00/mo pointed at the focus debt.

Starting balance

$13,700.00

All active debts combined

Avalanche payoff

3y 4m

Jan 2030

Plan paydown

$13,700.00

$100.00/mo acceleration

Minimums only

4y 8m

Scenario benchmark

Avalanche plan

Projected balance if you follow the current strategy.

Minimums only

What happens if you stop at required payments.

Payoff Order

1Personal Loan
Month 37 · $2,290.58 interest
2Consolidation Loan
Month 40 · $1,054.65 interest
Ready to turn this result into a monthly plan?

Create a free account to track payments, log your actual balance each month, and see how every payment changes the forecast.

How it works

How to use this personal loan payoff calculator

How personal loan interest works

Most personal loans use simple interest on a fixed term, so your monthly payment and payoff date are set at origination. Extra payments reduce the principal directly, which shortens the remaining term or reduces future interest - check your lender's terms for how they apply overpayments.

Personal loans vs credit cards

Personal loans typically carry a lower rate than credit cards and have a fixed end date, which makes budgeting easier. If you used a personal loan to consolidate credit card debt, this calculator shows whether you are ahead of the original payoff date.

When avalanche makes sense for personal loans

If your personal loan rate is higher than your other debts, avalanche directs extra dollars here first. If your loan rate is lower than your credit cards, credit cards should take priority and you should model the personal loan alongside them.

Prepayment penalties

Some personal loans include prepayment penalties if you pay off early. Review your loan agreement before aggressively adding extra payments. Many lenders eliminated these fees, but it is worth confirming before running an extra-payment strategy.

Using a personal loan to consolidate debt

Consolidating multiple high-rate debts into one personal loan at a lower rate can reduce total interest and simplify repayment. After consolidating, use this calculator to keep the payoff momentum going instead of treating the consolidated loan like a clean slate.

Ready to track real progress?

Save your plan, log payments monthly, and watch your debt-free date get closer. Free account — no card required.

Create Free Account →

Common questions

Frequently asked questions

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