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Loans and finance

Debt Payoff Calculator

How long until you’re debt-free, and what paying a little more saves.

Your numbers

Sample numbers are filled in. Tap a box and type yours.

From your statement. Credit cards charge up to 3% a month.
What you pay each month now

Results update as you type. Calculate takes you to your result.

Debt payoff

Debt-free in1 yr 4 moYou’ll pay ₱13,607.81 in interest along the way.

Paying the same amount
Debt-free in
2 yrs
Total interest
₱20,360.32
Adding ₱1,000.00 a month
Debt-free in
1 yr 4 mo
Total interest
₱13,607.81
You save
₱6,752.51 and 8 mo

An estimate from the numbers you enter. How it’s computed · Change your numbers

Debt-free in1 yr 4 mo

How to use this calculator

  1. Enter the balance and monthly interest from your statement, and what you pay each month.
  2. Try an extra monthly amount to see the time and interest it saves.

How it’s computed

Each month: interest = balance × monthly rate. Your payment covers the interest first, and the rest lowers the balance.

We repeat month by month until the balance reaches zero, then add up the interest.

Example

A ₱50,000.00 card balance at 3% a month, paying ₱3,000.00:

  • Paid off in 24 months (2 yrs) with ₱20,360.32 interest.
  • Adding ₱1,000.00 a month: 16 months (1 yr 4 mo), saving ₱6,752.51.

Frequently asked questions

What interest rate do credit cards charge?

Philippine cards quote a monthly rate. The Bangko Sentral caps credit card interest at 3% a month (about 36% a year). Check your statement for your card’s rate.

Why does paying the minimum take so long?

Most of a minimum payment goes to interest, so the balance barely drops. Even a small fixed amount above the minimum cuts years off the payoff.

I have several debts. Which do I pay first?

Pay the minimum on all of them, then put every extra peso on the one with the highest rate (the avalanche method). Paying the smallest balance first (the snowball method) costs a little more but gives quicker wins.

Does this include new charges?

No. It assumes you stop using the card. New purchases push the payoff date back.

This calculator provides estimates for informational purposes only. Actual payroll, taxes, contributions, loan charges, and utility costs may vary depending on your employer, provider, government rules, or specific circumstances.

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Read the guide