Simplify Your Payments and Save Money with Our Debt Consolidation Calculator

Managing multiple loans and credit card payments each month can feel like a financial juggling act. Our Debt Consolidation Calculator helps you determine whether consolidating those balances into one loan could simplify your finances — and even save you money in the long run.

Existing Debts
Debt #1
$
$
%
Debt #2
$
$
%
Debt #3
$
$
%
Add New Debt
Consolidation loan
$
%
months
$
Calculate
Monthly payment too low to cover interest.
Existing debts Consolidation loan
APR - -
Monthly pay - -
Time to payoff - -
Upfront cash - -
Total interests - -
Total payments - -
Saving - -

Debt Consolidation Loan Calculator

With just a few inputs, this calculator helps you:

  • Add up your total debt balance
  • Estimate your new monthly payment under a consolidation loan
  • Compare the total interest paid before vs. after consolidation
  • Visualize your savings with a clear side-by-side breakdown

The calculator includes built-in formatting for currency, automatically handles your inputs, and is fully responsive across devices, so it’s easy to use wherever you are.

How to Use This Calculator

Getting started is simple. Follow these steps:

List your current debts

Include balances, interest rates (APR), and monthly payment amounts for credit cards, personal loans, or other debts.

Input your proposed consolidation loan

Enter the total loan amount, expected interest rate, and term (in months).

Click “Calculate”

Instantly see your new monthly payment and compare your old vs. new total interest costs.

Review the comparison

Understand if consolidating saves you money or costs more in the long run.

The tool will alert you if the consolidated loan results in higher overall costs, helping you avoid decisions that could increase your debt burden.

What Is Debt Consolidation and How Does It Work?

If you owe money to more than one creditor, debt consolidation is the process of combining those payments. There are different ways to consolidate debt, but one of the most common is paying off the money you owe with a new loan that has a lower interest rate.

Example of a Debt Consolidation Calculation

Let’s say you have three debts:

  • Credit Card 1: $5,000 balance, 18% APR, $150 minimum payment
  • Credit Card 2: $3,000 balance, 22% APR, $100 minimum payment
  • Personal Loan: $7,000 balance, 12% APR, $200 minimum payment
Total current monthly payments $450
Total interest paid over time $4,900+

If you consolidate all debts into a single loan of $15,000 at 8% APR for 5 years, your new monthly payment would be around $304, and total interest paid would be $3,240 — saving you over $1,700 in interest.

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