Debt Consolidation Calculator
Compare paying several debts separately with one consolidation loan, by monthly payment, payoff time and total cost.
Quick answer
Debt consolidation replaces several debts with one new loan. It compares each existing debt simulated on its own against the new loan, using monthly payment, months to debt-free and total interest plus fees.
Debt Consolidation Calculator
Your debts
Consolidation loan
Payments Today (total)
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Consolidated Payment
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Debt-Free In (separate)
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Debt-Free In (consolidated)
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Interest (separate)
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Interest + Fees (consolidated)
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Total Cost Difference
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Separate vs Consolidated
| Item | Separate debts | Consolidation loan |
|---|
Your Debts, Paid Separately
| Debt | Balance (₹) | Rate | Payment (₹) | Payoff | Interest (₹) |
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Assumptions & method
- Each debt is simulated monthly: interest = balance × annual rate ÷ 12, then your payment is applied. The last payment is smaller if less than a full payment is owed.
- Separate debts keep their own fixed payments until each is repaid; freed-up payments are not redirected to other debts.
- Consolidation loan amount = total debts + fee, where fee = total debts × fee %. Payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1).
- Total interest + fees (consolidated) = payment × n − total debts, which includes the fee and interest on it.
- Rates are fixed and payments fall at month end. Early-repayment charges on old debts, credit effects and new borrowing are not included. Estimates only, not advice.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
What debt consolidation changes
Debt consolidation replaces several debts with one new loan. You then make a single payment at a single rate for a fixed term. It can help if the new rate is lower than your average rate, or if one predictable payment is easier to manage. The cost side is the fee and the term: a longer term lowers the payment but adds months of interest. This calculator simulates each existing debt on its own, simulates the new loan, and compares the monthly payment, the time to be debt-free and the total interest plus fees for both routes.