Debt Payoff Calculator
Plan paying off multiple debts with the snowball or avalanche method.
Assumptions used in this calculation
- Debt slots: Supports up to 3 debts at once. For more, group smaller debts together or run the calculation in stages.
About this calculator
Juggling multiple debts at once raises a question that's genuinely hard to answer without simulation: which order should you attack them in, and how much difference does the order actually make to your total interest paid and time to debt-free? This calculator simulates paying off up to three debts simultaneously, always paying the minimum on every debt while directing your entire extra monthly budget (plus any minimum payments freed up as debts get closed) at one target debt at a time, ordered by either the snowball method (smallest balance first, prioritizing quick psychological wins) or the avalanche method (highest interest rate first, minimizing total interest mathematically). Running both strategies through the same simulation lets you see the concrete trade-off in months saved versus interest saved for your actual balances and rates, rather than relying on generic advice about which method is 'better' without knowing how it applies to your specific debts.
Worked example
Two debts (₹50,000 at 24%, ₹1,00,000 at 18%), ₹5,000 extra/month, snowball
Result: Debt-free in 21 months; ₹24,612 total interest
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