Does debt consolidation save money?

Debt consolidation can save money if the new consolidated loan has a lower interest rate than your existing debts. Compare total interest paid over time under both scenarios.

Debt Consolidation Calculator

Compare your current debt payments to a consolidated loan — estimate monthly savings and total interest saved.

This tool runs in your browser. None of your data is saved or sold.

Total debt to consolidate ($)

Current avg. rate (%)

Current monthly payment ($)

Consolidation loan rate (%)

Consolidation term (years)

Origination fee (%)

About This Calculator

Consolidation replaces multiple high-rate debts with a single lower-rate loan. This calculator compares your current monthly payment and total interest cost against a new consolidated loan to show whether consolidation makes financial sense for your situation.

Estimates only — not financial, tax, legal, or investment advice. Verify important results with a qualified professional before making decisions.

new PMT = debt × r / (1 − (1+r)^−N); monthly savings = current payment − new PMT