Calculator
Loan Payoff Calculator
A loan payoff calculator estimates how many months remain until a loan is paid off and how much interest you will pay. Enter your current balance, rate, and monthly payment to see the payoff date.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
- Runs in your browser
- No sign-up
- Free
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
If you already know your balance, rate, and the amount you pay each month, this calculator estimates how long until the loan is paid off.
The payoff time comes from rearranging the amortization formula:
n = -ln(1 - r * B / M) / ln(1 + r)
- n = number of monthly payments remaining
- B = current balance
- r = monthly interest rate = annual rate / 12 / 100
- M = monthly payment
Total interest equals M * n - B. If your payment is less than or equal to the interest charged in a month, the balance never falls and the loan never pays off; the calculator reports that instead of a number.
How to use this calculator
Enter your numbers
Everything runs in your browser. Nothing you type is sent to us.
Read the result
The result shows the headline figure and the numbers behind it, so you can see where the cost comes from.
Check the rules before you apply
State caps and licensing decide what a lender may offer you. The state reference lists both with their sources.
Before you apply, run the numbers
The calculators are free and run in your browser. When you are ready to look at real offers, the link below goes to our referral partner.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.