Debt Consolidation Loan Calculator
Merge high-rate debts into one lower payment.
Consolidation math runs locally — your debts stay yoursYour payment breakdown appears here
Fill in the loan details and press Calculate — the monthly payment, total interest and schedule will render right on this page, with nothing sent to any server.
How to use
Consolidation replaces several high-rate balances — credit cards, store cards, medical bills — with one personal loan at a single, usually lower, rate. The win shows up in two places: a lower monthly payment and less lifetime interest.
How to use
- Enter your total current balance and the blended rate you are paying today.
- Enter the new loan APR and the term in years.
- Press Calculate to see the old vs new payment and the lifetime savings.
Example
You carry $15,000 at an effective 18% across cards. A consolidation loan at 9% for 4 years cuts the payment from roughly $441 to $373 a month and saves about $3,300 of interest over the term — provided you stop using the cards.
Formula
The calculator compares PMT(old rate) against PMT(new rate) on the same balance over the same term. The old APR is a weighted blend of your existing debts.
Blended rate estimate
If you have multiple cards at different rates, the true old rate is the balance-weighted average. This tool uses a single old APR — compute yours roughly as the sum of (balance × rate) divided by the total balance.
When consolidation does not help
If the new rate is not below your current blend, or the term is much longer, you can end up paying more total interest despite a lower payment. Always compare lifetime cost, not just the monthly number.
The behavior trap
Consolidation only works if you stop revolving the cards. The moment old balances creep back, you are paying twice for the same debt.
FAQ
Always saves money?
Only if the new rate and fees beat your current weighted rate — compare lifetime interest, not just the payment.
Watch the term
A longer term can lower the payment but raise total interest; keep the term close to your current payoff horizon.
How do I estimate my blended old rate?
Weight each balance by its rate: sum of balance × rate, divided by total balance.
What if the new APR is not lower?
Then consolidation is a fee-heavy no-op — keep avalanche-paying the highest-rate debt instead.
Reviewed by the LoanMath editorial team