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 | Consolidation loan | |
---|---|---|
APR | - | - |
Monthly pay | - | - |
Time to payoff | - | - |
Upfront cash | - | - |
Total interests | - | - |
Total payments | - | - |
Saving | - | - |
With just a few inputs, this calculator helps you:
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.
Getting started is simple. Follow these steps:
Include balances, interest rates (APR), and monthly payment amounts for credit cards, personal loans, or other debts.
Enter the total loan amount, expected interest rate, and term (in months).
Instantly see your new monthly payment and compare your old vs. new total interest costs.
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.
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.
Let’s say you have three debts:
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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