Debt Consolidation Calculator Online
Compare your current debts to a single consolidation loan and see the monthly and interest savings. Estimates only, computed in your browser.
The Debt Consolidation Calculator runs entirely in your browser. The balances, payments, and rates you enter never leave your device and nothing is uploaded to ArrayKit. Results are estimates only, not financial advice.
Open the Debt Payoff Calculator
About Debt Consolidation Calculator
Debt Consolidation Calculator compares your current debts to a single new consolidation loan so you can see whether combining them actually saves money. Enter your combined current monthly payment, the total interest left to pay, and your total balances, then add the new loan's rate, term, and any fees. It amortizes the balances (plus financed fees) as one loan and shows the new monthly payment, new total interest, and the exact monthly and interest difference versus your current debts. It is useful when a lender sends you a consolidation offer and you want a quick, unbiased check before signing. Everything runs locally in your browser, and this tool gives estimates only, not financial advice — your debt figures never leave your device.
Features
- Compares your current combined debts to a single new consolidation loan
- Amortizes the new loan's balance, rate, and term to get an exact new payment
- Finances optional origination or consolidation fees into the new loan
- Shows the new total interest cost of the consolidation loan
- Calculates the exact monthly payment difference versus your current debts
- Calculates the exact total interest difference versus your current debts
- Copy a plain-text summary of every result with one click
- Runs entirely in your browser — your debt and income figures are never uploaded
How to use the Debt Consolidation Calculator
- Enter your current combined monthly payment, remaining interest, and total balances
- Enter the new consolidation loan's interest rate and term in months
- Add any origination or consolidation fees you plan to finance
- Compare the new payment, new interest, and the difference versus your current debts
Example
Input
$20k debt -> 9%, 36 mo
Output
New payment: $636
Interest saved: $2,100
Consolidating $20,000 of debt into a 9% APR, 36-month loan drops the monthly payment and saves roughly $2,100 in interest versus the current debts.
Common errors & troubleshooting
- The interest rate is entered as a decimal, like 0.09 instead of 9. — Enter the annual percentage rate as a whole number, such as 9 for 9%, not 0.09.
- The new loan payment looks lower than your current payment, but the total interest is higher. — A longer term almost always lowers the monthly payment while increasing total interest paid — check both the monthly and interest differences the Debt Consolidation Calculator shows, not just one.
- Fees are quoted separately from the loan amount and get left out. — Add any origination or consolidation fees in the fees field so the calculator finances them into the new loan and reflects their true cost.
- The total remaining interest for current debts is unknown. — Use the Debt Payoff Calculator first to estimate your current total interest, then bring that figure into the Debt Consolidation Calculator.
Frequently asked questions
- What does the Debt Consolidation Calculator actually compute?
- It amortizes your total balances, plus any financed fees, as a single new loan at the rate and term you enter, then compares that new loan's monthly payment and total interest to the totals you currently pay across all your debts.
- Is debt consolidation always cheaper than my current debts?
- Not always. The Debt Consolidation Calculator shows both the monthly and interest differences separately — a lower monthly payment with a longer term can still mean more total interest, so check both figures before deciding.
- Do consolidation loan fees matter in this calculator?
- Yes. Enter any origination or consolidation fee in the fees field and it is financed into the new loan's balance, so it is reflected in the new payment and new total interest the calculator shows.
- Where do I get my current total interest figure for this calculator?
- Your current lender statements or a payoff calculator (like the Debt Payoff Calculator) can estimate the total interest remaining if you keep paying your current debts as-is.
- Does the Debt Consolidation Calculator upload my balances or payments?
- No. The Debt Consolidation Calculator runs entirely in your browser. The balances, rates, and payments you enter never leave your device and are not uploaded to ArrayKit.
- Is the Debt Consolidation Calculator financial advice?
- No. It gives estimates only, based on the amortized-loan math you enter. The consolidation loan offer you actually qualify for depends on your credit and a lender's exact terms — confirm any decision with your lender or a financial professional.
Related tools
All ArrayKit tools