Debt payoff calculator

For credit cards, store cards and personal loans: see when you'll be debt-free and how much an extra payment each month saves.

Amount owed (R)

Interest rate (%)

Monthly service fee (R)

Monthly payment (R)

Extra payment per month (R)

How this works

Each month interest (your rate ÷ 12) and the service fee are added, then your payment comes off. We repeat this until the balance reaches zero, once with your normal payment and once with the extra added, so you can compare.

Snowball or avalanche?

With several debts, the avalanche method pays the highest-interest debt first (usually store cards and credit cards) and saves the most money. The snowball method clears the smallest balance first for quick wins. Either beats paying only the minimum.

Struggling with debt?

If repayments are more than you can manage, a registered debt counsellor (regulated by the National Credit Regulator) can negotiate lower payments under debt review. Talk to one before you miss payments.

What is the maximum interest rate on credit cards in South Africa?

The National Credit Act caps credit card interest at the repo rate plus 14% a year. Personal loans can be higher, up to repo + 21% for unsecured credit.