Debt Consolidation Calculator
See whether rolling your high-rate debt into one consolidation loan saves money — compare the new monthly payment and total interest against what your current debt would cost paid off as-is.
How to Use
- Enter your total debt balance — the sum of the balances you want to consolidate.
- Set your current average APR — a balance-weighted average of the rates on those debts.
- Enter your current total monthly payment across all of them.
- Set the APR and term for the consolidation loan you are considering.
- Compare the new monthly payment and total interest against the current path to see the savings.
Show Work
Notes
About the Debt Consolidation Calculator
Use the Debt Consolidation Calculator — a free, easy tool for personal-finance and money decisions. Nothing is uploaded, and you do not need an account. See whether rolling your high-rate debt into one consolidation loan saves money — compare the new monthly payment and total interest against what your current debt would cost paid off as-is.
How it works
Put each value in its box and read the answer as you go. Because it recalculates live, you can play with the inputs to see how each one moves the result — handy for checking your own working or planning ahead. Everything happens on your device, so it is fast and private.
Want the deeper story? The Knowledge Base explains the ideas behind the tools in more detail.
Frequently Asked Questions
How does debt consolidation save money?
By replacing several high-rate balances with one lower-rate loan, less of each payment goes to interest. The tool simulates paying off your current debt at its current rate and payment, then compares the interest to a new fixed-rate consolidation loan over your chosen term.
What does "payment too low" mean?
If your current monthly payment is less than or equal to the interest accruing each month (balance × monthly rate), the balance never goes down — it grows. In that case the current path never pays off, so there is no finite interest total to compare. Increase the current payment to model a payoff.
What APR should I enter as my current average?
Use a balance-weighted average: multiply each debt's balance by its APR, add them up, and divide by the total balance. Credit cards often sit around 18–25%, which is why consolidating into a single-digit or low-teens loan can save a lot.
Does a lower payment always mean savings?
Not necessarily. A consolidation loan can lower your monthly payment by stretching the term, but a longer term can mean more total interest even at a lower rate. This tool reports both the payment change and the interest saved so you see the full picture.
Are fees included?
No — this compares interest only. Some consolidation loans carry origination or balance-transfer fees that reduce the benefit. Factor those in separately, and check the Personal Loan Calculator to model an origination fee on the new loan.
How do I use the Debt Consolidation Calculator?
Just type your numbers. The answer shows up right away — there is no button to press. Change anything and it updates by itself.
Do I need to install or sign up for anything?
Not at all — it runs in the browser with nothing to install and no account. After it loads once, it even works without an internet connection.
Is my information private?
Yes. Everything happens in your browser. Nothing you type is sent to a server or saved anywhere.
Common Use Cases
Credit card payoff
See if a personal loan beats grinding down cards at 20%+ APR.
Lower monthly payment
Find a term that cuts the monthly payment to fit your budget.
Interest savings check
Quantify how much interest a lower rate actually saves over the loan.
Break-even analysis
Spot when a lower rate but longer term barely helps — or costs more.
Choosing a term
Balance a faster payoff against a more affordable monthly payment.
Last updated: