UK · Free calculator
Debt payoff calculator
Find out how long it takes to clear a debt with a fixed monthly payment.
Your figures
Rates updated 2026-04-06. Results update as you type.
- Months to clear
- 33
- Years
- 2.75
- Total interest
- £1,405.04
- Total paid
- £6,405.04
How this calculator works
Interest is added monthly; payments reduce the balance until cleared.
£5,000 at 18.9% APR
Paying £200 a month towards a £5,000 balance.
Assumptions & sources
- Interest compounded monthly.
- Fixed payment with no fees or rate changes.
- Standard reducing-balance interest model
Frequently asked questions
If the payment does not cover monthly interest, the balance will never clear. The calculator will warn you.
Estimates only
Handy Money Tools provides illustrative figures, not personalised financial or tax advice. Verify
important decisions with official sources or a qualified adviser.
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