Free calculator
Debt Consolidation Calculator
Free Debt Consolidation Calculator with instant browser-based results and a clear calculation breakdown.
Debt Consolidation Calculator
Compare your current multiple debts with a single consolidated loan to see potential savings in monthly payments and total interest.
Combined balance of all debts you want to consolidate
Weighted average rate across all current debts
Sum of all minimum payments you currently make
Interest rate offered on the consolidation loan
Repayment period for the new consolidated loan
Consolidation Analysis
New Monthly Payment:
$0.00
Monthly Payment Difference:
$0.00
Current Payoff Time (est.):
0 months
New Payoff Time:
0 months
Current Total Interest:
$0.00
New Total Interest:
$0.00
Total Interest Savings:
$0.00
How This Works
Debt consolidation combines multiple debts into a single loan, typically at a lower interest rate.
The calculator uses the standard loan amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1],
where M is the monthly payment, P is the principal, r is the monthly interest rate, and n is the number of payments.
For your current debts, we estimate the payoff time based on your monthly payment and average interest rate. Results are estimates and actual outcomes may vary based on payment behavior and loan terms.
For your current debts, we estimate the payoff time based on your monthly payment and average interest rate. Results are estimates and actual outcomes may vary based on payment behavior and loan terms.
Want to understand the calculation?
Read the guideSee examples, formula notes and limitations.