Pay off your debt for less.

Tell us what you owe. We'll compare every Canadian bank and show the cheapest way out.

Be debt-free 7 months sooner and keep $2,067.

Nov 2029 If nothing changes
Apr 2029 With a consolidation loan

Interest you'd pay

As is $2,869
Consolidation loan $801

Your best move

RBC Debt Consolidation Loan — Variable Rate

RBC, from 7.69%

Fixed payments, so the debt is gone on a set date.

See the offer

Other options

  • Low-rate card

    8.9% at National Bank, done April 2029

    Keep $1,922 View

  • Line of credit

    11.45% at National Bank, done May 2029

    Keep $1,593 View

Based on the lowest rate each bank advertises, with your monthly payment unchanged. Your actual rate depends on approval, and transfer or setup fees aren't included.

How the debt payoff calculator works

Enter each debt, its interest rate and what you pay each month. GoPayoff works out your debt-free date, then checks verified rates from Canadian banks to find a cheaper card, line of credit or consolidation loan. You see how many months sooner you could be debt-free and how much interest you would keep, at the same monthly payment.

How do I pay off credit card debt faster in Canada?

Keep paying the same amount, but move the balance to a lower rate. More of each payment then goes to the debt instead of interest. Common options are a low-rate credit card, a line of credit or a debt consolidation loan.

Is a line of credit cheaper than a credit card?

Usually. Most Canadian credit cards charge around 20% or more, while unsecured lines of credit are set at prime plus a margin and are often much lower. Your rate depends on your credit.

What is a debt consolidation loan?

A single loan that pays off several debts, so you make one payment at one rate. It helps when the loan rate is lower than the rates you pay now.

Is GoPayoff free?

Yes. There is no sign-up and no credit check. The numbers you enter stay in your browser.

GoPayoff shows rates each bank advertises. It isn't financial advice, and your rate depends on approval. We use analytics cookies to improve the site.