Debt-Free Target Calculator
Enter up to three loans and the month you want to be debt-free. We work out the extra monthly payment — or the one-time amount — that gets you there, and how much interest it saves.
Loan 1
Loan 2 (optional)
Loan 3 (optional)
Example values shown — replace them with your own loan details. Assumes extra money goes to the highest-rate loan first and each finished loan's EMI keeps going to the next. Reducing-balance loans only (most bank loans); gold and flat-rate loans work differently. Estimates only, not financial advice. Rates are examples — actual rates vary by lender and profile, so verify with your lender.
How this calculator works
It runs your loans month by month. Each loan is charged interest on its own balance and paid by its own EMI. Any extra money goes to the loan with the highest interest rate first, and when a loan finishes, its EMI keeps going towards the next one.
Then it searches for the smallest extra amount that finishes every loan by your chosen month. The one-time option assumes you pay a lump sum today, again towards the highest-rate loan first, and keep your current EMIs.
Why the highest rate first?
Paying the loan with the highest interest rate first generally saves the most interest overall, because that balance is the most expensive to carry. Some people prefer to clear the smallest loan first for motivation — both are valid, and the right choice is yours.
Before you use the numbers
Results are estimates on reducing-balance loans, the most common kind from banks. Gold loans, flat-rate loans and loans with prepayment charges work differently, so check your agreement. Keep an emergency reserve aside so extra payments do not leave you short of cash, and confirm all figures with your lender.
Frequently asked questions
What does "debt-free by" mean here?
The month in which the last of the loans you entered is fully paid, counting from next month as month one.
Is the extra amount per month or a one-time payment?
Both are shown. The first is an extra amount paid every month until the target. The second is a single payment made today with your normal EMIs continuing.
Why does the answer say no extra money is needed?
When one loan ends, its EMI is freed up. If you keep paying that same amount towards the next loan, you can finish earlier without adding new money.
Can I reach any date I pick?
Mathematically yes, if you can pay enough — but very early dates need very large amounts. Check that the amount fits your income and keeps an emergency reserve. This is not financial advice.
Track every loan in one place
KadanMukti shows the true cost of all your loans, your debt-free date, and what an extra payment saves. Free to try, no signup.
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Estimates only, not financial advice. Rates are examples — actual rates vary by lender and profile, so verify with your lender. Calculator app, not a financial advisor.