Loan Payoff Date Calculator
Find the exact date your loan will be paid off.
Enter your values
Enter the current balance in $.
Enter the interest rate in % APR.
Enter the monthly payment in $.
Enter the starting month (1-12) you are working with.
Enter the starting year you are working with.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- Payoff date
- Oct 2027
- Months remaining
- 45
- Total paid
- $17,678.86
- Total interest
- $2,678.86
Quick answer
The payoff date depends on how large your payment is relative to the interest accruing each month — even small increases in payment can pull the date in significantly.
n = -ln(1 - Pr/pmt) / ln(1+r)
At a glance
| What it does | Find the exact date your loan will be paid off. |
|---|---|
| Category | Finance |
| Inputs needed | Current balance, Interest rate, Monthly payment, Starting month (1-12), Starting year |
| Main output | Payoff date |
| Formula | n = -ln(1 - Pr/pmt) / ln(1+r) |
| Cost | Free — no sign-up, no download |
How to use the Loan Payoff Date Calculator
- 1Enter your current balance, rate and fixed monthly payment.
- 2Enter the month and year you start counting from.
- 3Read the projected payoff date and remaining interest.
Inputs explained
- Current balance($)
- Enter the current balance in $.
- Interest rate(% APR)
- Enter the interest rate in % APR.
- Monthly payment($)
- Enter the monthly payment in $.
- Starting month (1-12)
- Enter the starting month (1-12) you are working with.
- Starting year
- Enter the starting year you are working with.
Worked example
Using the values the calculator loads with:
Inputs
- Current balance15000 $
- Interest rate9 % APR
- Monthly payment400 $
- Starting month (1-12)1
- Starting year2024
Results
- Payoff dateOct 2027
- Months remaining45
- Total paid$17,678.86
- Total interest$2,678.86
Frequently asked questions
What if my payment barely covers interest?
The calculator will warn you if the payment is too low to ever pay off the balance.
Does this account for extra payments?
No — for one-off or recurring extra payments use the Extra Payment Loan Calculator instead.
What do I need to enter into the Loan Payoff Date Calculator?
Just 5 values: current balance, interest rate, monthly payment, starting month (1-12), starting year. Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the Loan Payoff Date Calculator work out the answer?
The payoff date depends on how large your payment is relative to the interest accruing each month — even small increases in payment can pull the date in significantly. It applies the formula n = -ln(1 - Pr/pmt) / ln(1+r) and shows the working so you can check each step by hand.
Is the Loan Payoff Date Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.