Free Canadian calculator
Debt Payoff Calculator
Enter your balance, annual interest rate and monthly payment.
Estimated payoff months—
Estimated interest—
Estimated total paid—
Important note
Estimate how many months it takes to repay a balance and how much interest is paid.
Illustrative estimate only. Actual results can differ because of taxes, payroll frequency, lender underwriting, fees, compounding conventions and personal circumstances.
Frequently asked questions
What if my payment is too low?
If the payment does not exceed monthly interest, the balance may not decline. This tool reports a long-run limit in that case.
Does this include fees?
No. Enter fees separately if you want to approximate their effect.