Loans
Debt Payoff Calculator
Simulates paying off any debt — a loan or an outstanding balance — at a fixed monthly payment.
Your details
₹
%
₹
Months to pay off
23
Total interest paid
₹29,076
Paying ₹10,000/month clears ₹2,00,000 in about 23 months, costing ₹29,076 in interest.
How this is calculated
Each month: interest = balance × (APR ÷ 12); balance = balance + interest − payment; repeated until the balance reaches zero.
Frequently asked questions
Snowball vs avalanche — which is better for multiple debts?
Avalanche (paying off the highest-interest debt first) minimizes total interest paid; snowball (smallest balance first) can build momentum and motivation. Mathematically avalanche wins, but snowball works better for some people psychologically.
Should I pay off debt or invest instead?
Compare the debt's interest rate against a realistic investment return — if the debt rate is higher, paying it off is the more certain 'return.'