Debt consolidation calculator

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Figure out how much you could save by combining all your debt into a new loan.

Debt consolidation combines all your monthly loan and credit card payments into one — potentially saving you a good chunk on interest. Use our calculator to figure out if a debt consolidation loan could help you pay off your debt faster or cut down on interest.

Debt consolidation savings calculator

Calculate how much you could save by consolidating your debt

Your current balance(s)
1)Debt amountInterest rate
2)Debt amountInterest rate
3)Debt amountInterest rate
Total monthly payments
Add another balance
New loan terms
Loan length in years

Fill out the form and click “Calculate” to see your estimated savings and new monthly payment.


Compare debt consolidation options now

You’ll save an estimate of !

Before consolidationAfter consolidation
Interest rate%9%
Year(s) to pay off~
Monthly payment$$
Total interest paid
Total balance paid

You currently have a total debt balance of $ with an average rate of %. By consolidating them into a new loan at 9% APR with a -year term, you’d pay approximately $ per month. Your estimated total savings would be .

Your total monthly payments is not enough to cover the interest. Your loan(s) will never be paid off.

Compare debt consolidation options now

How to use this debt consolidation calculator

  1. Enter the amount you currently owe on a credit card or personal loan under Debt amount.
  2. Write the interest rate for that credit card or loan under Interest rate. If you also pay fees, write your annual percentage rate (APR) instead, which includes both interest and fees.
  3. Enter the amount you would need to pay each month on that credit card or loan to pay off your debt in three years under Total monthly payments.
  4. Click Add another balance to add another credit card or personal loan that you’d like to pay off with a debt consolidation loan.
  5. Follow steps one through four, adding as many credit cards and personal loans as you’d like.
  6. For each new balance, add the new monthly payment to the Total monthly payments.
  7. Hit Calculate.
  8. Adjust the new loan term and hit Calculate again to see how much a longer or shorter term can help you save.

What do the calculator terms mean?

Use the definitions below to better understand the calculator and compare your debt consolidation loan options.

How can I maximize my savings?

Maximize savings by choosing the shortest loan term. While it will increase your monthly repayments, it should reduce how much you pay in interest. Crunch some numbers and figure out how much you can comfortably afford to pay each month.

Qualifying for a lower interest rate can also help you save money. You can take steps to improve your credit to make sure that your personal credit score is strong. Or you can simply take the time to compare your options to see which lender offers the most competitive rate.

Finally, consider prequalifying with a few lenders to see what types of rates and terms you’re eligible for. You can start your search with the table below.

What are my debt consolidation options?

Compare debt consolidation loan options

Updated March 29th, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
4.99% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
Monevo Personal Loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Even Financial Personal Loans
4.99% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
Upgrade Personal Loans
6.98% to 35.89%
Affordable loans with two simple repayment terms and no prepayment penalties.

Compare up to 4 providers

Compare balance transfer credit card options

Name Product Amount saved Balance transfer APR Balance transfer fee Recommended minimum credit score Filter values
Citi Simplicity® Card
0% intro for the first 21 months (then 14.74% to 24.74% variable)
$5 or 5% of the transaction, whichever is greater
With an intro APR of 21 months, this card has one of the longest balance transfer offers on the market. Plus, no late fees and no annual fee.
Citi® Diamond Preferred® Card
0% intro for the first 21 months (then 13.74% to 23.74% variable)
$5 or 5% of the transaction, whichever is greater
Get one of the best balance transfer intro APR promotions available. Plus, access Citi Entertainment℠ to purchase tickets to concerts, sporting events, dining experiences and more.
Citi® Double Cash Card
0% intro for the first 18 months (then 13.99% to 23.99% variable)
$5 or 3% of the transaction, whichever is greater
This one of the most valuable flat cashback cards. It comes with 2% cash back (1% when you buy plus 1% when you pay) and 18 months months to pay off transfers.
Blue Cash Everyday® Card from American Express
0% intro for the first 15 months (then 12.99% to 23.99% variable)
$5 or 3% of the transaction, whichever is greater
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees
Citi Rewards+℠ Card
0% intro for the first 15 months (then 13.49% to 23.49% variable)
$5 or 3% of the transaction, whichever is greater
Get rewards on gas and groceries with no annual fee. Ideal for everyday use, it's the only card that rounds purchases up to the nearest 10 points.

Compare up to 4 providers

Bottom line

Consolidating debt is especially a smart move when you have high-interest accounts. If you have debts with double-digit interest rates, you could save thousands with debt consolidation.

Want to use a different loan calculator? Here’s our full list of personal loan calculators.

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