Debt Consolidation Calculator
Compare your current debt payments with a single consolidation loan. See monthly and total savings across any set of debts.
Your current debts
Consolidated payment
$133.47
Was $190.99 across your debts
Monthly savings
$57.52
Total savings
$34
Loan term
60 months
$8,008 total
Consolidation wins when the new rate is lower than the average of your current debts. Watch out: a longer term can cut the payment while still raising the total interest.
How it works
Consolidated payment = amortising formula on total debt at the new rate. Savings = old total interest − new total interest.
Example: $30,000 debts at 22% avg consolidated to 10% over 5 years → payment drops and total interest falls by roughly half.
Debt Consolidation Calculator on True Calculator gives you an instant, accurate answer with no sign-up and no app install. Compare your current debt payments with a single consolidation loan. See monthly and total savings across any set of debts. Every result shows the formula and a worked example so you can verify the calculation yourself, and all values are computed in your own browser — your numbers never leave your device.
Popular uses: debt consolidation calculator · debt consolidation loan calculator · debt consolidation savings
Last updated: August 2026
How We Calculate
This calculator uses standard mathematical formulas verified by our team. All calculations are performed instantly in your browser using JavaScript — no data is sent to any server. The formulas used are industry-standard and match those used by banks, financial institutions and health organizations.
For financial calculators, we use RBI-approved formulas and regularly updated bank rates. For health calculators, we use WHO-recommended formulas and medical standards. All rates and standards are sourced from official government and regulatory websites.
Frequently Asked Questions
Is debt consolidation a good idea?
It is worth it when the consolidated loan's interest rate is meaningfully lower than your combined current rates and you can afford the new payment. This calculator compares total interest before and after.
How do I calculate my weighted average interest rate?
Multiply each debt's balance by its rate, sum them, and divide by the total balance. The result is the break-even rate — consolidation only saves money if your new rate is below it.
How long will it take to pay off consolidated debt?
Consolidation loans typically run 3–7 years. A longer term lowers payments but can add interest; a shorter term costs less overall. The calculator shows the payoff path for your term.
Is this debt consolidation calculator free to use?
Yes, True Calculator's debt consolidation calculator is completely free with no sign-up, no app install and no usage limits.
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