Financial Calculators

Loans

Debt Payoff Planner

Add loans or credit-card balances, choose avalanche or snowball, and see how a focused monthly payoff budget changes your debt-free date.

Your debts

Balances and monthly EMIs

This is added on top of the total monthly EMIs and rolled into the next debt as balances close.

Payoff Strategy

Avalanche: highest interest first.

Snowball: smallest balance first.

Debt-free in

Interest saved
₹
Plan interest
₹

Monthly payoff budget

₹

Payoff order

    Payoff path

    Yearly debt reduction schedule

    Rounded display; calculations retain full precision.

    Year Opening Principal paid Interest paid Closing

    How this payoff planner works

    The baseline assumes each debt receives its entered monthly EMI. The payoff plan keeps paying the combined EMIs plus your extra amount every month, then redirects freed payments toward the next debt in the selected order.

    Payment check: the planner first checks whether your payments cover the first month of interest. If interest is higher than the amount being paid, the balance would grow instead of shrink, so the planner asks you to increase the monthly EMI or extra monthly payment.

    Avalanche

    Targets the highest annual interest rate first. This often reduces total interest.

    Snowball

    Targets the smallest balance first. This can create quicker visible wins.

    Fixed budget

    When one balance closes, that payment is reused for the remaining debts.

    When to use avalanche or snowball

    Use avalanche when interest cost is the main problem and you can stay consistent without early psychological wins.

    Use snowball when clearing small balances quickly will help simplify cash flow or keep motivation high.

    Frequently asked questions

    Are late fees or charges included?

    No. Add only the outstanding balance, interest rate, and payment assumptions. Fees, penalties, insurance, and rate resets are outside this estimate.

    Should I include a home loan?

    You can, but this planner is most useful for high-interest consumer debt. For a single home loan, use the loan prepayment calculator.

    Why does my plan fail?

    This usually means the current payment is below the estimated monthly interest. For example, if a debt adds ₹3,000 interest in a month but only ₹1,000 is paid, the unpaid interest keeps the balance from reducing. Raise payments or review the debt terms.

    Continue your loan decision

    Estimate EMI, model a single loan prepayment, or compare prepaying with investing.

    Loan EMI → Prepayment → Prepay vs Invest →

    This is an educational estimate. Actual payoff schedules can differ because of billing dates, compounding rules, fees, taxes, rate changes, and lender allocation policies.