Debt Payoff Calculator

List up to eight debts with balances, APRs, and minimum payments. Add monthly, yearly, or one-time extra payments. Choose snowball (smallest balance first)...

Modify the values and click the Calculate button to use.
Results

Enter values and click Calculate.

Schedule

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Introduction

List up to eight debts with balances, APRs, and minimum payments. Add monthly, yearly, or one-time extra payments. Choose snowball (smallest balance first) or avalanche (highest rate first) payoff order.

Debt Payoff Planning

List up to eight debts with balances, APRs, and minimum payments. Add monthly, yearly, or one-time extra payments. Choose snowball (smallest balance first) or avalanche (highest rate first) payoff order.

Fixed Total Payment Option

When enabled, freed minimum payments from paid-off debts roll into remaining balances—keeping total monthly outflow constant and accelerating payoff similar to a consolidation mindset without new loans.

Snowball vs Avalanche

Snowball builds momentum by clearing small wins early. Avalanche saves the most interest. The difference shrinks when rates and balances are similar.

Related Tools

Debt Consolidation Calculator, Credit Cards Payoff Calculator.

How It Works

  1. Enter your amounts, rates, and term in the form. Use the same units shown in the labels (dollars, years, percent).
  2. Click Calculate to run the Debt Payoff Calculator engine. Invalid or empty required fields show a clear error message.
  3. Review the summary cards for the key outputs. Expand schedules or tables when available for period-by-period detail.
  4. Copy, print, or share your scenario link. Reset the form anytime to start a fresh comparison.

Formula

This calculator applies the standard financial identity for its inputs: solve for the unknown variable while holding the others fixed, using consistent compounding periods.

FAQ

Yes. CDCalculator.io provides the Debt Payoff Calculator at no charge for personal and educational use. Results are estimates and not financial advice.

The tool uses standard formulas lenders and planners use in spreadsheets. Your bank may round differently or include fees not modeled here.

Use the Copy Results and Print buttons on the calculator panel after you run a scenario. You can also share the page link with colleagues.

Focus on realistic rates, terms, and any extra payments or contributions. Small changes in APR or time horizon often move outcomes more than rounding.

No. Use this calculator to explore scenarios, then consult a qualified advisor or lender for decisions about other financial products.