Loan Payoff Time Calculator
Works out how long it takes to repay a loan at a chosen monthly payment.
Your result
Estimate only. Results update as you type.
How this calculator works
The balance is reduced month by month: balance + interest − payment.
Worth knowing
If the time never ends, your payment is not covering the monthly interest.
Guides for this calculator
- Loan Payoff Time Calculator: Formula, Example and What the Result Means
- Loan Payoff Time: What to Check Before You Trust the Number
Questions
- What is a comparison rate?
- It combines the interest rate and most fees into one annual rate, usually based on a $30,000 loan over five years, to make loans easier to compare.
- Do the results include fees?
- Only where a fee input is shown. Add any known fees for a more realistic total.
- Where can I get help with debt?
- The National Debt Helpline (1800 007 007) offers free, confidential financial counselling.
This calculator gives general estimates using published Australian rates and formulas. It doesn’t consider your personal circumstances. Check current figures with the ATO, your state government or a qualified professional before making decisions. See our disclaimer.