Loan & credit card payoff
Find your debt-free date from a fixed payment.
Estimated time to repay
For illustration only. Read the assumptions below for the full picture.
Understand your result.
Estimate the time to clear an outstanding balance with a fixed monthly payment. It can provide a planning illustration for a loan or credit-card balance when no new borrowing is added.
Check that the payment covers interest and reduces principal. The result assumes you continue paying the entered fixed amount each month.
A worked example.
Using this calculator’s default inputs, estimated time to repay is 24 months. This is an illustration of the stated formula, not a forecast.
See the example inputs
| Outstanding balance | ₹2,00,000 |
|---|---|
| Annual interest rate | 18 % |
| Fixed monthly payment | ₹10,000 |
A common mistake to avoid
Adding new purchases while relying on a repayment scenario that assumes none.
Questions you might have.
Does it match credit-card daily interest?
Not exactly. It uses monthly reducing-balance interest and excludes new transactions, fees, GST on charges and issuer-specific daily rules.
What if my payment only covers interest?
The balance cannot be repaid under that payment. The tool asks for a higher amount.
Prepared by INDwise · Calculation checks: 29 October 2026 · How we check the maths · Report a correction
How we calculate it
Each month add balance × annual interest rate ÷ 12, then apply the fixed payment, with the final payment limited to the amount owed.
Assumptions & things to know
Constant monthly reducing balance, no new purchases, fees, GST on card charges, grace periods or changing rates. Credit-card issuers may use daily calculations; this is a planning estimate. Minimum payments often change: enter the fixed amount you can sustain. Limit: 100 years.
Your privacy & sharing
Your financial inputs are used only within this page. Saved calculators use this browser’s local storage. Sharing creates a link with the entered values, so anyone with that link can see those values. A downloaded summary stays on your device.