Debt Snowball Calculator

What is the Debt Snowball Calculator?

The debt snowball method pays the minimum on every debt and puts every extra rupee towards the smallest balance first. When that debt is gone, its payment “rolls” onto the next smallest, so the amount attacking your debts grows like a snowball.

List each debt on its own line with its balance, interest rate and minimum monthly payment, and add any extra amount you can pay each month. The calculator simulates every month, shows when you will be debt-free, the total interest paid, the payoff order and how it compares with the avalanche method.

How to use the Debt Snowball Calculator

1. Your Debts (one per line: name, balance, rate %, minimum payment) — one debt per line: name, outstanding balance, interest rate %, minimum monthly payment. (sample: Credit card, 80000, 36, 4000 Personal loan, 200000, 14, 7000 Bike loan, 50000, 11, 2500)
2. Extra Monthly Payment (₹) — money available each month beyond the minimums. (sample: 5,000)
3. Press Plan Debt Snowball (results also refresh as you type). The result card shows the Debt-Free In, along with Total interest paid, Payoff order, Avalanche method interest and Interest saved vs minimum payments only.

Formula used

Each month: Balance = Balance × (1 + r ÷ 12) − Payment

• Payment = the minimum on every debt, plus the extra amount and freed-up minimums on the smallest remaining balance

The simulation runs month by month until every balance reaches zero (up to 50 years).

Worked example

These are the sample values already filled in the calculator above, and the result it returns for them:

Tips for using the Debt Snowball Calculator

• Snowball gives quick wins that keep you motivated; avalanche saves more interest.
• Stop using credit cards while you repay them, or the snowball never finishes.
• Consider a lower-rate personal loan or balance transfer to consolidate very expensive card debt.