How to use this calculator:
Debt consolidation calculator
See how much you could save by combining your debts into one loan.
Enter your debts and hit calculate to see your comparison.
Estimates only. Assumes a fixed rate, on-time payments and no origination fees. Your actual rate depends on your credit profile and lender.
Using debt consolidation means taking out a single new loan to pay off multiple existing debts — credit cards, medical bills, personal loans — so you’re left with just one monthly payment. The goal is a lower interest rate, which reduces how much you pay over time.
It works best when your new rate is meaningfully lower than your current average rate. The average APR on new credit card offers is 23.75% as of April 2026. The average personal loan rate is 12.27% for borrowers with a 700 credit score as of April 2026. That gap is where your savings come from, but only if your credit score is strong enough to qualify for a rate well below what you’re currently paying.
The math that matters: If you owe $15,000 across three credit cards at an average of 22% APR and consolidate into a 5-year loan at 12%, you’d save roughly $4,200 in total interest — and have a fixed payoff date.
Your credit score is the biggest factor. Here’s a realistic picture of what consolidation loan rates look like across the credit spectrum, based on actual marketplace data.
| Credit score range | Credit tier | Typical APR range | Avg. credit card APR | Does consolidation help? |
|---|---|---|---|---|
| 720–850 | Excellent | 6%–13% | ~24% | Strong savings |
| 690–719 | Good | 12%–18% | ~24% | Likely saves money |
| 630–689 | Fair | 18%–26% | ~24% | Depends on rate offered |
| 580–629 | Poor | 25%–36% | ~24% | Often doesn’t help |
| Below 580 | Bad | 30%–36%+ | ~24% | Usually not worth it |
APR ranges reflect personal loan offers across major lenders. Individual rates vary by lender, loan amount and debt-to-income ratio.
Fair credit borrowers: Don’t skip the calculator. Your break-even point depends on your specific debts. A consolidation loan at 20% still beats carrying a 29% credit card indefinitely, just barely.
Loan term is the other big lever. A 3-year loan costs less overall, but a 10-year loan lowers your monthly payment. Here’s what a $15,000 consolidation loan at 12% APR looks like across common terms.
| Loan term | Monthly payment | Total interest paid | Total cost | Best for |
|---|---|---|---|---|
| 3 years | $498 | $2,938 | $17,938 | Paying off fast, strong cash flow |
| 5 years | $333 | $4,998 | $19,998 | Balanced — most popular term |
| 7 years | $261 | $7,001 | $22,001 | Lower monthly, tighter budgets |
| 10 years | $215 | $10,800 | $25,800 | Maximum payment flexibility |
Calculated at 12% APR on a $15,000 principal. Assumes fixed rate and on-time monthly payments with no prepayment.
Our take: The 5-year term tends to be the sweet spot — manageable payments without paying thousands extra in interest. But if you can afford the 3-year payment, you’ll come out ahead by nearly $2,100.
Consolidation is a tool, not a cure. It works in specific situations.
Explore your options by costs and requirements. Select the Go to site button for more information about a particular lender.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
A debt consolidation loan isn’t the only route.
| Option | Typical APR | Best for | Watch out for |
|---|---|---|---|
| Personal loan | 6%–36% | Good credit, no home equity, fast funding | Origination fees (1–8%); rate depends heavily on credit |
| Balance transfer card | 0% intro, then 20–29% | Paying off in under 21 months | Balance transfer fee (3–5%); standard rate kicks in after intro period |
| Home equity loan | 7%–10% | Large balances, homeowners with equity | Your home is collateral; longer to fund |
| Debt management plan | Reduced (negotiated) | Struggling with payments, seeking structure | Must work through nonprofit credit counselor; takes 3–5 years |
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