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Loan payoff calculator

See what a loan really costs. Then pay it off sooner.

Enter a loan amount, rate, and term for a standard amortization schedule. Add recurring or one-time extra payments to see exactly how much interest and time they save.

Takes about 2 minutes
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1

Your loan

The amount, rate, and term of the loan itself.

Loan amountThe principal you're borrowing (or still owe).
Interest rateAnnual rate, compounded monthly.
Loan termTotal length of the loan.
First paymentWhen payments start.
2Extra paymentsAdd a recurring amount, a one-time lump sum, or both.Optional
Frequency
Amount
Starting
Ending optional
Same math the app uses

Standard amortization, plus the levers that actually move it.

01

Set the loan

Amount, rate, and term give you the standard fixed monthly payment.

02

Add extra payments

A recurring monthly amount, a one-time lump sum, or both — applied straight to principal.

03

Compare the payoff

See the new payoff date, interest saved, and the balance curve for both paths.

Related reading

Before you commit extra to this loan.

Paying it off faster isn't always the best use of that cash — here's how to weigh it against your other financial goals.

Debt PayoffFinancial GoalsPlanning
Should you pay off a loan early? How to compare interest savings with your other financial goals.

Extra loan payments save interest, but they also use cash that could protect you from an emergency or move another goal forward. Here's how to decide what fits your situation.

J
Justin·August 28, 2026·7 min read
✦ Free to start
Turn this estimate into a real payoff plan.
Track your actual loan balance and extra payments in ClearCash, and see the payoff date update automatically as you go.
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