Debt Payoff Calculator
Compare debt snowball and avalanche payoff strategies, estimate your debt-free date, interest cost, and review a month-by-month repayment plan.
Debt inputs
Your debts
Debt 1
Debt 2
Debt 3
Debt-free time
2 years 8 months
Total interest
₹1,15,892.88
Total paid
₹5,30,892.88
Best for
Motivation
Strategy comparison
Compare payoff time and interest cost for snowball vs avalanche.
Avalanche currently results in lower total interest based on your inputs.
Remaining balance over time
Track how your total debt balance falls month by month.
Principal vs interest
Understand the split between original debt and total interest cost.
Payoff summary by debt
| Debt | Interest Rate | Paid Off In | Interest Paid |
|---|---|---|---|
| Credit Card A | 36.00% | 1 year 10 months | ₹49,452.75 |
| Personal Loan | 16.00% | 2 years 8 months | ₹61,382.62 |
| Credit Card B | 28.00% | 9 months | ₹5,057.51 |
Month-by-month payoff schedule
Review payment, interest, principal reduction, and total remaining balance for each month.
| Month | Total Payment | Interest | Principal | Remaining Balance | Cleared Debts |
|---|---|---|---|---|---|
| 1 | ₹21,000.00 | ₹7,983.33 | ₹13,016.67 | ₹4,01,983.33 | — |
| 2 | ₹21,000.00 | ₹7,720.28 | ₹13,279.72 | ₹3,88,703.61 | — |
| 3 | ₹21,000.00 | ₹7,451.36 | ₹13,548.64 | ₹3,75,154.97 | — |
| 4 | ₹21,000.00 | ₹7,176.44 | ₹13,823.56 | ₹3,61,331.41 | — |
| 5 | ₹21,000.00 | ₹6,895.37 | ₹14,104.63 | ₹3,47,226.78 | — |
| 6 | ₹21,000.00 | ₹6,608.00 | ₹14,392.00 | ₹3,32,834.78 | — |
| 7 | ₹21,000.00 | ₹6,314.19 | ₹14,685.81 | ₹3,18,148.97 | — |
| 8 | ₹21,000.00 | ₹6,013.77 | ₹14,986.23 | ₹3,03,162.73 | — |
| 9 | ₹20,057.51 | ₹5,706.58 | ₹14,350.93 | ₹2,88,811.81 | Credit Card B |
| 10 | ₹18,000.00 | ₹5,394.46 | ₹12,605.54 | ₹2,76,206.27 | — |
| 11 | ₹18,000.00 | ₹5,122.70 | ₹12,877.30 | ₹2,63,328.96 | — |
| 12 | ₹18,000.00 | ₹4,844.20 | ₹13,155.80 | ₹2,50,173.16 | — |
| 13 | ₹18,000.00 | ₹4,558.78 | ₹13,441.22 | ₹2,36,731.94 | — |
| 14 | ₹18,000.00 | ₹4,266.26 | ₹13,733.74 | ₹2,22,998.20 | — |
| 15 | ₹18,000.00 | ₹3,966.44 | ₹14,033.56 | ₹2,08,964.63 | — |
| 16 | ₹18,000.00 | ₹3,659.12 | ₹14,340.88 | ₹1,94,623.75 | — |
| 17 | ₹18,000.00 | ₹3,344.09 | ₹14,655.91 | ₹1,79,967.84 | — |
| 18 | ₹18,000.00 | ₹3,021.15 | ₹14,978.85 | ₹1,64,988.99 | — |
| 19 | ₹18,000.00 | ₹2,690.08 | ₹15,309.92 | ₹1,49,679.07 | — |
| 20 | ₹18,000.00 | ₹2,350.66 | ₹15,649.34 | ₹1,34,029.73 | — |
| 21 | ₹18,000.00 | ₹2,002.65 | ₹15,997.35 | ₹1,18,032.38 | — |
| 22 | ₹16,452.75 | ₹1,645.82 | ₹14,806.94 | ₹1,03,225.44 | Credit Card A |
| 23 | ₹12,000.00 | ₹1,376.34 | ₹10,623.66 | ₹92,601.78 | — |
| 24 | ₹12,000.00 | ₹1,234.69 | ₹10,765.31 | ₹81,836.47 | — |
Showing first 24 months out of 32 total months.
How this debt payoff calculator works
Add your debts with balance, interest rate, and minimum monthly payment. Then choose a payoff strategy to see how quickly you may become debt-free.
The snowball strategy prioritizes the smallest balance first, while the avalanche strategy prioritizes the highest interest rate first.
You can also add an extra monthly payment budget to speed up repayment and compare total interest paid under both strategies.
Best use cases
Use this tool for credit cards, personal loans, education loans, medical debt, and other consumer debt accounts.
It helps you understand the tradeoff between faster psychological wins through the snowball method and lower interest cost through the avalanche method.
Results are estimates for educational purposes and should not be treated as financial advice.
Frequently asked questions
What is the debt snowball method?
The debt snowball method pays off the smallest balance first while making minimum payments on all other debts. Once one debt is cleared, that payment rolls into the next debt.
What is the debt avalanche method?
The debt avalanche method prioritizes the highest interest rate debt first. It can reduce total interest cost over time compared with other repayment methods.
Does paying extra each month really help?
Yes. Even a modest extra monthly payment can reduce your payoff timeline and lower total interest paid, especially on high-interest debt.