Loan Payoff Calculator

The free Loan Payoff Calculator helps you find out how long it will take to pay off your loan — and how much interest you’ll pay overall. Enter your balance, interest rate, and monthly payment to instantly see a full payoff estimate. Add extra payments to see how much faster you can become debt-free.

💰 Loan Payoff Calculator

Loan amount ($): Annual interest rate (%): Monthly payment ($): Extra monthly payment ($):

📊 Result

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How to use the Loan Payoff Calculator

Enter your loan amount – this is the total you owe (for example, 10 000).
Add your annual interest rate (%) – the yearly percentage charged by your lender.
Enter your monthly payment – the amount you plan to pay each month.
(Optional) Add an extra monthly payment – see how additional payments shorten your loan term.
Click Calculate to see your results: payoff time, total interest, and total amount paid.

Example:
If you owe $10 000 at 6% interest and pay $200 per month, your loan will be fully paid in 58 months (4.8 years).
Add $50 extra each month and you’ll pay it off 10 months earlier and save more than $500 in interest.

Can I use this calculator for any type of loan?

Yes — it works for personal loans, car loans, student loans, or any fixed-rate debt with regular monthly payments.

Does it support extra payments or lump sums?

Yes. Enter an additional monthly amount under “Extra monthly payment” to see how much time and interest you’ll save.

Is compound interest included?

Yes. The calculator assumes interest compounds monthly, based on the annual rate you provide.

What if my payments are not enough to cover interest?

If your monthly payment is too low, the balance will grow over time. The calculator alerts you by showing an extremely long payoff period.

Can I use this calculator on mobile?

Absolutely. The page is mobile-friendly and works smoothly on phones and tablets — no app needed.

About the Loan Payoff Calculator

The Eqsy Loan Payoff Calculator is a simple but powerful tool that helps you understand your debt and take control of it. Every loan behaves differently depending on interest rate, payment amount, and any extra contributions you make. This calculator simulates the amortization process — month by month — to show how your payments reduce the principal and interest over time.

Why use it

See exactly how long it will take to become debt-free.
Discover how much interest you’ll pay with your current plan.
Learn how even small extra payments can save you thousands over the lifetime of a loan.
Compare different payment strategies before committing.

Designed for real use

Instant results: change values and calculate immediately.
Simple interface: no forms, sign-ups, or ads blocking the view.
Works everywhere: desktop, tablet, and mobile.
Privacy-friendly: no data stored or sent anywhere — all calculations happen in your browser.

Who is it for

Anyone paying off a personal, car, or student loan.
Homeowners checking mortgage payoff scenarios.
Financial planners or teachers explaining loan concepts.
Anyone who simply wants to understand how loans work.

Every calculation is performed instantly in your browser, giving you a clear picture of your path to financial freedom — no spreadsheets or logins required.