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Debt payoff calculator

See when a fixed monthly payment could clear a balance and compare the effect of paying extra.

YOUR NUMBERS

Let’s work it out.

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R
%
R
Exclude the service fee. This is a fixed payment, not a changing card minimum.
R
Leave blank to estimate the first payment one month from today. Monthly dates are estimates, not a lender schedule.
Fees, contributions & assumptions +
R

Calculated on your device. Save a copy only when you choose.

A CLEARER PICTURE

Planned monthly debt outlay

R 2 000,00

Your repayment + extra + monthly service fee

Months to clear the balance
32
Baseline months without extra
47
Interest in modelled payments
R 13 139,63
Total modelled payments
R 63 139,63
See the full breakdown
ESTIMATE · NOT A QUOTATION

Save this scenario, then change your inputs to compare the results.

BEHIND THE NUMBER

Your calculation, unpacked.

Months to clear the balance
32
Baseline months without extra
47
Interest in modelled payments
R 13 139,63
Total modelled payments
R 63 139,63
Remaining balance after modelled payments
R 0,00
Saving versus complete baseline
R 6 696,47
Months saved
15
UNDERSTAND THE TRADE-OFFS

Small changes.
Different possibilities.

Try changing one input at a time. Compare the total cost, as well as the monthly number.

View repayment schedule · 32 payments
Payments, interest and remaining balance. Fees include ongoing insurance.
PaymentDateTotal paidPrincipalInterestFeesBalance
1—R 2 000,00R 1 250,00R 750,00R 0,00R 48 750,00
2—R 2 000,00R 1 268,75R 731,25R 0,00R 47 481,25
3—R 2 000,00R 1 287,78R 712,22R 0,00R 46 193,47
4—R 2 000,00R 1 307,10R 692,90R 0,00R 44 886,37
5—R 2 000,00R 1 326,70R 673,30R 0,00R 43 559,67
6—R 2 000,00R 1 346,60R 653,40R 0,00R 42 213,07
7—R 2 000,00R 1 366,80R 633,20R 0,00R 40 846,27
8—R 2 000,00R 1 387,31R 612,69R 0,00R 39 458,96
9—R 2 000,00R 1 408,12R 591,88R 0,00R 38 050,84
10—R 2 000,00R 1 429,24R 570,76R 0,00R 36 621,60
11—R 2 000,00R 1 450,68R 549,32R 0,00R 35 170,92
12—R 2 000,00R 1 472,44R 527,56R 0,00R 33 698,48
THE WORKINGS

How this calculation works

Each month we calculate interest on the remaining balance, round interest to cents, and apply your fixed repayment plus extra to interest and principal. A separate service fee adds to cash paid. The final payment is capped at the balance plus interest. We compare this with the same repayment without the extra payment, for up to 600 months.

A worked example

At 0%, a R12 000 balance paid at R1 000 a month clears in 12 months. Adding R200 clears it in 10 months, with R2 000 still due after the eighth payment.

Assumptions & limitations

  • No new spending, changing minimum payments, penalties or settlement charges are modelled.
  • Interest is fixed and nominal, accrued monthly rather than daily. Extra payments are applied immediately.
  • The payment must exceed the first month’s interest. Plans longer than 600 months are flagged as incomplete; no settlement date or saving is promised for an incomplete comparison.
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