You could be debt-free by …
Add your loans and cards below. Everything updates as you type.
Your debts
Credit cards, personal loans, vehicle loans, anything with a balance. Use the yearly interest rate from your statement.
Your path to zero
Total balance, month by month.
Payoff order
Two proven ways to pay it down
Both methods work the same way: pay the minimum on everything, then throw every spare rupee at one debt. When it's gone, its payment rolls into the next. They differ only in which debt goes first.
Avalanche
Target the debt with the highest interest rate first. Mathematically it's the cheapest route, because you stop the most expensive interest soonest.
For most people in India that means credit cards first. Card interest often runs 36–45% a year, far above a personal or vehicle loan.
Choose it if you want to pay the least interest and can stay patient while the first debt shrinks.
Snowball
Target the smallest balance first, whatever its rate. You clear whole debts quickly, and each one gone is one less bill to think about.
It usually costs a little more in interest. The planner above shows you exactly how much, so you can decide whether the early wins are worth it.
Choose it if motivation is the hard part and quick wins will keep you going.
Staying on track
- Stop adding new debtPause card spending while you pay down. Use UPI or a debit card for day-to-day costs so the balance can only go one way.
- Automate the minimumsSet up auto-debit for every minimum due. A single missed payment can add a late fee, a higher rate and a hit to your credit score.
- Send windfalls straight to your target debtBonuses, tax refunds and festival gifts shorten your timeline fastest. Try them in the extra-payment box to see how many months they save.
- Ask about a lower rateCall your card issuer or bank and ask about a balance transfer or a lower rate. Check processing fees before you agree.
- Keep a small emergency bufferEven one month of expenses in savings stops a surprise bill from landing back on the card.
Questions
Is my information stored anywhere?
No. Your numbers stay in this browser on this device. Nothing is sent to a server, and there's no account to create.
Which interest rate should I enter?
The yearly rate shown on your statement or loan agreement. If your card shows a monthly rate, multiply it by 12. For example, 3.5% a month is 42% a year.
How accurate is the debt-free date?
It's an estimate. The planner compounds interest monthly and assumes your rates and payments stay the same. Real loans can differ slightly because of fees, daily interest, or EMIs with fixed schedules.
What if a debt has a fixed EMI?
Enter the EMI as its minimum payment. Before paying extra on a loan, check with your lender whether prepayment is allowed and whether it carries a charge.
Is this financial advice?
No. GoDebtFree is a planning tool to help you see your options. For decisions about your situation, speak with a qualified financial adviser or a credit counsellor.