Loan Payoff Calculator
Work out your payoff date, total interest, and how much you save by paying extra.
Whether it is a personal loan, car loan, or several loans at once, this calculator shows exactly when each one clears, how much interest you pay, and how much faster you finish by paying a little extra each month. Add your loans below, set your monthly budget, and compare snowball versus avalanche if you are juggling more than one.
Your debts
Pre-filled with an example — edit the numbers to match your own.
Minimums total £325 / month.
Applied in month 1 (e.g. a bonus or tax refund).
Debt-free date
July 2029
3 yr 1 mo
Total interest paid
£3,645.62
avalanche method
Total amount paid
£18,145.62
principal + interest
Interest you could save
£91.61
avalanche vs other method
Snowball vs Avalanche — side by side
Snowball
- Time to debt-free
- 3 yr 1 mo
- Total interest
- £3,737.23
- First debt cleared
- Credit Card B
Avalanche
Lowest interest- Time to debt-free
- 3 yr 1 mo
- Total interest
- £3,645.62
- First debt cleared
- Credit Card A
Total balance over time
How your combined debt falls under each strategy.
Payoff order
The order your debts clear under the avalanche method.
- 1Credit Card A
- 2Credit Card B
- 3Personal Loan
Payoff schedule
37 months total| Month | Interest | Remaining balance | Credit Card A | Personal Loan | Credit Card B |
|---|---|---|---|---|---|
| 1 | £198.54 | £14,198.54 | £4,010.15 | £8,403.54 | £1,784.85 |
| 2 | £193.66 | £13,892.2 | £3,816.68 | £8,306.08 | £1,769.45 |
| 3 | £188.7 | £13,580.9 | £3,619.51 | £8,207.6 | £1,753.79 |
| 4 | £183.65 | £13,264.56 | £3,418.58 | £8,108.1 | £1,737.88 |
| 5 | £178.52 | £12,943.07 | £3,213.82 | £8,007.56 | £1,721.7 |
| 6 | £173.29 | £12,616.37 | £3,005.15 | £7,905.97 | £1,705.25 |
| 7 | £167.98 | £12,284.35 | £2,792.5 | £7,803.32 | £1,688.53 |
| 8 | £162.58 | £11,946.92 | £2,575.79 | £7,699.61 | £1,671.53 |
| 9 | £157.08 | £11,604 | £2,354.95 | £7,594.81 | £1,654.25 |
| 10 | £151.49 | £11,255.49 | £2,129.89 | £7,488.92 | £1,636.68 |
| 11 | £145.8 | £10,901.28 | £1,900.53 | £7,381.93 | £1,618.82 |
| 12 | £140.01 | £10,541.29 | £1,666.8 | £7,273.83 | £1,600.67 |
Should you consolidate?
Compare a single consolidation loan against your DIY avalanche plan.
Your DIY plan (avalanche)
- Time to clear
- 3 yr 1 mo
- Total interest
- £3,645.62
- Total cost
- £18,145.62
Consolidation loan
- Monthly payment
- £378.07
- Total interest
- £3,212.52
- Total cost (incl. fee)
- £18,147.52
Ready to lower your interest rate?
If your plan shows consolidation could save you money, compare real, regulated lenders and 0% balance-transfer cards before you apply. Always check the representative APR, fees, and eligibility.
Affiliate disclosure: these are sponsored comparison links. We may earn a commission at no cost to you. This is not financial advice — check each provider's terms before applying.
Frequently asked questions
How do I pay off a loan faster?
Pay more than the minimum whenever you can, and apply any lump sums (bonuses, tax refunds) straight to the principal. Even a small fixed overpayment each month can cut months or years off the term and save significant interest. The calculator shows the exact effect.
Will I be charged for paying off a loan early?
Some loans carry early-repayment charges, especially fixed-rate personal loans. Check your agreement before overpaying. This tool models the interest saving from early payoff but does not include lender-specific early-repayment fees.
Can I plan several loans together?
Yes. Add each loan as a row, set one overall monthly budget, and the planner sequences them using the snowball or avalanche strategy — rolling each cleared payment onto the next loan automatically.
More calculators
Debt Snowball Calculator
Knock out your smallest balance first and build unstoppable momentum.
Open →Debt Avalanche Calculator
Target your highest interest rate first to pay the least interest possible.
Open →Credit Card Payoff Calculator
See exactly how long your cards take to clear — and what minimum payments really cost.
Open →Debt Consolidation Calculator
Compare the true cost of a consolidation loan against your DIY payoff plan.
Open →