Debt Consolidation Calculator
Savings = (Old monthly payment − New monthly payment) × Number of monthsOld payment ≈ $588, new ≈ $488, savings ≈ $4,800 over term
Free online tool
Debt Consolidation Calculator
Enter your total debt, current rate and consolidation rate to compare.
Instant calculation
Debt Consolidation Calculator
Enter your total debt, current rate and consolidation rate to compare.
Your result
Calculation
Your numbers stay in this browser. Nothing is uploaded or saved.
Three clear steps
How to use this calculator
- 01
Enter total debt
Type your current total debt across all accounts.
- 02
Enter current rate
Type the weighted average interest rate.
- 03
Enter consolidation terms
Provide the new rate and loan term in months.
The formula
How this calculation works
Compares the total cost of your current debt against a new consolidated loan.
Check the method
Worked examples
Each example follows the same formula used by the calculator.
$20,000 debt at 18% consolidated to 8% over 48 months — savings?
Old payment ≈ $588, new ≈ $488, savings ≈ $4,800 over term≈ $100/month savings; $4,800 totalCommon questions
Questions about this calculation
What is the Debt Consolidation Calculator?
The Debt Consolidation Calculator helps you see if consolidating your debt at a lower rate saves you money. Enter your values and select Calculate to get an instant result.
How is the result calculated?
Compares the total cost of your current debt against a new consolidated loan.
Can you show an example?
Example: $20,000 debt at 18% consolidated to 8% over 48 months — savings? — ≈ $100/month savings; $4,800 total.
Is my data saved when I use the Debt Consolidation Calculator?
No. All calculations run locally in your browser. Your inputs and results are never uploaded, stored or shared with anyone.
Is the Debt Consolidation Calculator free to use?
Yes. The Debt Consolidation Calculator is completely free. No account, sign-up or payment is required. It works on mobile, tablet and desktop.
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