Debt Consolidation Calculator

Compare Your Options!

Wondering if consolidating your debt into one loan would actually save you money? This calculator compares what you’re paying today across multiple debts against a single new consolidation loan — showing your combined monthly payment, total interest, and time to debt-free side by side.

How to Use This Calculator

1. List your current debts — add each credit card, personal loan, or other debt you’re considering consolidating. Enter the balance, interest rate (APR), and what you’re currently paying toward it each month. Use “+ Add another debt” for as many as you have.
2. Enter your new loan terms — the interest rate and term (in months or years) for the consolidation loan you’re considering. If you haven’t gotten a quote yet, try a few different rates to see how they affect your outcome.
3. Compare the two panels — “Your Debts Today” shows what happens if you keep paying each debt separately at its current rate and payment. “New Consolidated Loan” shows what one combined loan would look like instead.
4. Check the savings banner — this shows your estimated total interest savings (or, if the new loan would actually cost more, it’ll tell you that too — a longer loan term can sometimes mean more total interest even with a lower monthly payment).

Tip: A lower monthly payment isn’t always a better deal. If your new loan has a longer term, you could pay less each month but more in total interest over time. Compare the “Total Interest Paid” figures in both panels, not just the monthly payment, to see the real cost.