About the Debt Consolidation Calculator
Compare paying several debts separately with one consolidation loan: monthly payment, payoff time and interest saved.
Also known as: consolidate debt, consolidation loan calculator, combine debts.
How to use this calculator
- Enter debt balances, their interest rates (%), their monthly payments, consolidation loan rate and the other fields.
- The result updates instantly as you type — press Calculate (or Enter) at any time.
- Review the breakdown shown under the main result.
- Use Copy result or Share to save the answer or send a link with your inputs.
Formula
Compare Σ interest(each debt) with interest(one loan)
Worked example
Using the values pre-filled in the calculator above:
- Debt balances: 5000, 3000, 2000
- Their interest rates (%): 22, 18, 25
- Their monthly payments: 150, 90, 70
- Consolidation loan rate = 11 %
- Consolidation term = 3 years
the calculator returns:
- Interest saved: 3,272.88
- New monthly payment: 327.39
- Current total monthly: 310
- Current payoff time: 4 yr 4 mo