Reading your result
The curve bends
Early payments go mostly to interest, so the balance falls slowly at first and faster toward the end.
Extra goes to the balance
Every extra dollar comes straight off what you owe, which lowers the interest in each month after it.
Small amounts add up
Try $20 or $30 on the slider. On a short loan even that can take a month or more off the end.
Juggling more than one balance? The debt payoff calculator orders several debts for you.
Want a payoff date that's fixed from day one?
An Instacash personal loan has one fixed payment over 3 to 24 months, and no penalty if you finish early.
Common questions
How does the calculator work out my payoff date?
Each month it adds one month of interest to the balance, subtracts your payment, and repeats until the balance reaches zero. The number of months is your payoff time.
Why does it say my balance would never go down?
Your payment has to be larger than the interest charged each month. If it only matches the interest, the balance stays where it is.
Does paying extra really help?
Yes. Extra money goes straight to the balance, so less interest builds up in every month that follows. Instacash loans have no prepayment penalty.