Debt Consolidation Calculator

Your details

Itemizing lets the tool blend the rates for you and total the balances and payments.
Combined balance across all the debts you want to consolidate.
What you pay across all those debts each month right now.
Blended interest rate on your existing debts (credit cards average ~22%).
%
Rate offered on the consolidation loan.
%
Repayment length of the consolidation loan in months.
months
Upfront fee or points charged on the loan, often 1% to 8% of the amount borrowed.
%
On: the fee is financed and you repay it with interest. Off: you pay it upfront in cash.
Currency
New monthly paymentConsolidation saves interest
$593.57
Monthly payment change-$26.43
Real APR (fee adjusted)11.5%
Current payoff time43months
New payoff time36months
Interest on current path$8,485
Interest + fees on new loan$3,368
Total interest saved$5,116
Amount financed$18,000
Current interest$8,485
New loan interest + fees$3,368

Consolidating saves roughly 5,116 in interest and fees.

  • Your monthly payment drops by 26.43 to 593.57.
  • Over the full term you save about 5,116 in interest and fees.
  • The fee-adjusted real APR on this loan is about 11.5%, the figure to compare against your current rates.

Next stepConfirm the lender’s APR and any origination fee match what you entered, and avoid running new balances on the cleared accounts.

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