Debt payoff calculator
Add your loans to see when each one will be paid off and how much interest you'll still pay. Then see what an extra payment changes. There's nothing to sign up for, and nothing you type leaves your browser.
Your result
- Debt-free in
- 2 years 10 months34 months
- Interest still to pay
- $1,633.23
Each loan
- Credit card2 years 10 months$1,633.23 interest
With $100.00 extra each month on Credit card
- Paid off in
- 1 year 8 months20 months
- Sooner by
- 1 year 2 months
- Less interest
- $669.83
An estimate to help you think it through, not financial advice. For advice about your situation, speak to an accredited financial adviser.
Coming soon: partner with one of our accredited advisers.
Already filled in with an example. Change any figure, or add your own loans.
How it's worked out
Each month, interest is added on what you still owe (the yearly rate divided by 12), plus any fees, and your payment is taken off. This repeats until the balance reaches zero. Weekly or fortnightly payments are turned into a monthly amount (e.g. 50 a week × 52 ÷ 12). It's the same rule the Julula app uses for every loan.
The example on this page
| Owed on the credit card | $5,000.00 |
|---|---|
| Interest rate | 21% a year |
| Payment | $200.00 a month |
| First month's interest | $5,000.00 × 21% ÷ 12 = $87.50 |
| Off the balance in month 1 | $200.00 − $87.50 = $112.50 |
Repeating that each month, the card is paid off in 34 months (2 years 10 months), with $1,633.23 interest. Paying $300 a month instead ($100 extra) clears it in 20 months, with $963.40 interest: 14 months sooner and $669.83 less.
What it leaves out
It assumes your rate and payment stay the same, with no new spending on the card. It doesn't follow changes in your bank's base rate, and it doesn't tell you which loan to pay first. Amounts in different currencies aren't converted: pick one currency and enter everything in it.
Sources
No official figures are used: the result comes only from the figures you enter, worked out with Julula's own calculation rules. Last checked on 21 October 2026.
Who's behind Julula
Julula is made by a small team with more than 15 years of building software and just as long working in investments and data. We built this calculator with the same rules we use in Julula, the tool we use for our own money.
Questions
How much interest will I really pay?
More than most people expect, especially on a long mortgage. Over 20 years the interest can come close to what you borrowed. The calculator shows the total still to come for each loan.
Does paying extra really help?
Yes. Every extra amount goes straight to the balance, so less interest builds up the next month, and the month after. On a long loan even a small extra amount can save years.
Which debt should I pay off first?
There are two well-known ways: the highest interest rate first (it saves the most interest) or the smallest balance first (quick wins that keep you going). Julula will show both side by side soon.
What if my payment doesn't cover the interest?
Then the balance stays the same or grows. The calculator warns you, and you can try a higher payment to see when the loan would be paid off.
Why is my statement's payoff date different?
Lenders work out interest daily and may change your rate. This is a monthly estimate at today's rate.
See all your debt in one place
Want to see all your debt in one place, with each loan's payoff date updated as you go? Julula keeps your figures for you. It's in private early access.
Get early access
Leave your email address and we'll let you know when you can join. Your figures from this page aren't sent with it.
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