The same fixed monthly payment continues. Interest is calculated at the entered nominal annual rate divided by 12, then the regular payment is applied. A future extra follows its chosen completed-payment count, before the next interest period.
An extra can use only the remaining principal. Unused planned cash is shown, not spent elsewhere. A future fee is paid separately in full only when positive modeled principal is applied; later events and their fees are skipped after payoff.
Total cash includes regular payments, applied extra principal now and later, and fees paid. Net savings needs two complete payoff estimates and can be negative. Lender rounding, daily accrual, changing rates, legal entitlements and affordability are not modeled. On an unfinished or unevaluated plan, shown cash covers only evaluated actions, not lifetime costs.
No. It means after six completed regular monthly payments and before the next modeled interest period. Actual bank posting dates and interest conventions can differ; check your contract.
Only the remaining principal is applied and the rest is shown as unused. The full entered future fee applies if positive principal is applied. Once already paid off, both the later extra and its fee are skipped.
A non-reducing balance before the first future event is not evaluated, rather than declared impossible to repay. Savings are unavailable without two complete payoff estimates. A tiny positive terminal application may round to 0 while its entered fee still applies.
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Enter your balance, annual interest rate and monthly payment. Compare the estimated repayment time and interest under fixed assumptions.
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Paying CA$250.00/mo, you'll be debt-free in
6 years and 10 months
82 payments in total
Interest paid
CA$10,318.98
Total you pay
CA$20,318.98
Same balance, same rate — only the monthly payment changes. Your payment is highlighted.
| Monthly | Payoff time | Interest | Total paid | You save |
|---|---|---|---|---|
| CA$250.00you now | 6y 10m | CA$10,318.98 | CA$20,318.98 | — |
| CA$300.00 | 4y 8m | CA$6,644.17 | CA$16,644.17 | CA$3,674.812y 2m sooner |
| CA$400.00 | 3y | CA$4,001.13 | CA$14,001.13 | CA$6,317.853y 10m sooner |
| CA$500.00 | 2y 2m | CA$2,898.73 | CA$12,898.73 | CA$7,420.254y 8m sooner |
| CA$750.00 | 1y 4m | CA$1,748.39 | CA$11,748.39 | CA$8,570.595y 6m sooner |
| CA$1,000.00 | 1y | CA$1,270.33 | CA$11,270.33 | CA$9,048.655y 10m sooner |
CA$750.00 more a month — CA$1,000.00 instead of CA$250.00 — clears it in 12 months instead of 6 years and 10 months, and saves you CA$9,048.65 in interest.
Without extra payment: This monthly model divides the annual nominal interest rate by 12. It assumes fixed payments, no new borrowing and no fees. A total-cost or effective annual rate is a different measure; check the contractual interest rate before entering it.
Check your contract’s payment allocation and fees. This estimate does not reproduce daily interest, lender-specific rounding, future rate changes or other charges.
Scenario cash paid = extra principal + separate fee + future repayments. Net savings = baseline cash paid minus scenario cash paid.
Aggregates are rounded for display to the currency’s smallest unit. The model does not round interest each month.
Entries stay in this page’s memory. Reload to remove them; comparison amounts are not stored or sent to analytics.
This is an estimate for planning, not financial advice. Your numbers never leave your browser — nothing you type here is stored, sent, or tracked. Want your real balances and payments tracked automatically? That's what Deco is for.