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Debt Consolidation Calculator

Enter your current debts and a consolidation loan offer to compare total interest, monthly payment, and payoff time side by side.

Enter your debts (leave rows blank if you have fewer than five), then the consolidation loan you're considering.

BalanceAPR %Monthly payment
$
$
$
$
$
$
$
$
$
$

We'll work out the new monthly payment for you from the loan APR and term above.

Total debt: $0 at 0% blended APR
Now — total monthly payment
$0
Now — total interest
$0
Consolidated — monthly payment
$0
Consolidated — total interest
$0
Consolidated — payoff time
—

How debt consolidation works

Debt consolidation rolls several balances — usually high-interest credit cards — into a single new loan with one monthly payment. The goal is a lower interest rate and a fixed payoff date. This calculator weighs your current debts (their balances, APRs, and payments) against a consolidation loan's rate and term so you can see whether it actually saves money.

When it makes sense

  • Your consolidation loan's APR is lower than your blended (weighted) APR.
  • You can commit to not reusing the cards you pay off.
  • You want one predictable payment with a clear end date instead of revolving balances.

When to be careful

  • A longer term can lower the payment but raise total interest — watch the interest figure, not just the monthly payment.
  • Origination fees raise the real cost; ask for the all-in APR.

Already know your payoff plan? Compare strategies with the Snowball vs. Avalanche Calculator, model a single balance with the Debt Payoff Calculator, or learn how rates work in What Is APR?

Frequently asked questions

Does debt consolidation save money?
It can — if the consolidation loan has a lower interest rate than the blended rate on your current debts, and you avoid running the old balances back up. This calculator compares your current total interest with the interest on a single consolidation loan so you can see the difference for your numbers.
Will consolidating my debt hurt my credit?
A new loan application creates a temporary hard inquiry, and opening a new account lowers your average account age slightly. But paying down revolving balances can improve your credit utilization, which often helps over time. Effects vary by person.
What is a blended (weighted) APR?
It is the average interest rate across all your debts, weighted by each balance. A $8,000 debt at 23% affects your blended rate far more than a $500 debt at 15%. If a consolidation loan beats your blended APR, it is usually worth a closer look.

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