Loan Repayment Calculator

Calculate your full repayment schedule and find your exact loan payoff date.

Loan Details

5%36%
1 yr10 yrs

Monthly EMI

₹11,122

Total Amount Payable

₹6,67,333

Principal

₹5,00,000

Total Interest

₹1,67,333

Loan Repayment Calculator Formula & How It Works

Months to payoff = −ln(1 − (P × r) ÷ M) ÷ ln(1 + r)
  • P = Current outstanding balance
  • M = Your monthly payment (must be > P × r to make progress)
  • r = Monthly interest rate
  • Payoff date = today + months to payoff

To find when a loan ends at a given payment, solve for n. If your payment barely covers interest (M ≤ P × r), you'll never pay off the loan — this is called 'negative amortization.' Increasing payment to at least 2× monthly interest makes meaningful progress.

Loan Repayment Calculator FAQs

How do I calculate my loan payoff date?

Enter your current balance, interest rate, and monthly payment. The formula n = −ln(1 − Pr/M) ÷ ln(1+r) gives the number of months until payoff. This calculator does the math and converts to a calendar date.

What if my payment doesn't even cover the interest?

If monthly interest > your payment, the balance grows instead of shrinking (negative amortization). This happens with some variable-rate loans. You must pay at least the monthly interest to stop the balance from growing.

How do I create a debt repayment plan?

List all debts with balances, rates, and minimum payments. Choose a strategy (avalanche or snowball). Set a total monthly debt budget. Use this calculator to find the payoff date for each debt in sequence.

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