Credit-card payoff calculator with a fixed monthly payment
Estimate the time and cost of paying down one existing balance with a fixed payment. Enter your own rate and charges. The model is deliberately simpler than an issuer statement: no new purchases, no changing rates and no transaction categories.
Try the calculator
Gather four numbers from your own records
Enter the starting balance, nominal annual interest percentage, monthly account charge and planned monthly payment. Keep the contractual minimum payment separate and ensure your real payment complies with the agreement. Standard Bank’s card FAQ explains its own card treatment [1]; the calculator does not reproduce that bank’s ledger or validate a personal rate.
Read the result as a model
Each month the calculator adds balance × annual percentage ÷ 1,200, then adds the monthly fee and subtracts the payment. The last payment is reduced to the amount needed. It shows months, interest, fees and total paid. If the payment cannot reduce the first month’s debt, the model refuses a misleading payoff date.
Compare a payment you can sustain
Run the current plan and a second plan with a higher payment only if the household budget supports it. Keep the extra payment visible beside essential costs. A shorter modelled period is not a reason to miss another required payment. For multiple debts use the separate planner, and query real balance differences with the issuer.
Check the first month by hand
Use the first-month check to understand the output before trying a higher payment. With fictional R1,000 balance, 12% nominal annual rate, R5 monthly fee and R600 payment, monthly interest is R1,000 × 12 ÷ 1,200 = R10. The remaining balance is R1,000 + R10 + R5 − R600 = R415. The second month adds R4.15 interest and R5 fee, so the final payment is R424.15. Total paid is R1,024.15, comprising R1,000 principal, R14.15 interest and R10 fees. These invented inputs use monthly interest, not a bank’s daily statement calculation.
A calculation you can check
Fictional zero-rate example: R1,000 balance, R0 fees and R300 monthly payment require R300 + R300 + R300 + R100: four payments and R1,000 total. The tool caps simulation at 1,200 months and reports when that limit is reached.
Questions about this decision
Is this the issuer’s official payoff quotation?
No. It uses stated monthly assumptions. Request an issuer quotation for an actual settlement amount or date.
Which rate should I enter?
Use a verified nominal annual rate applicable to the balance you are modelling. The field contains no assumed market rate.
Does it handle daily interest?
No. It applies one-twelfth of the nominal annual rate monthly. Daily posting and payment dates can change an actual statement.
Are fees included?
Only the monthly fee you enter. Once-off costs, insurance and different transaction fees need separate consideration.
What if the payment is too small?
The tool warns instead of showing a payoff date when the initial monthly interest and fee are not covered.
Can I add new purchases?
This version assumes no new spending. A new purchase changes the starting balance and requires a new calculation.
Does the model calculate my minimum due?
No. Read your agreement or statement for the actual minimum and due date.
Can I use a zero rate?
Yes. It still includes the entered fee and fixed payments, without implying that your issuer offers zero interest.