Compare the true lifetime cost of your current debts against one consolidated loan — fees included.
Enter valid balances and APRs to compare consolidation.
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This calculator estimates whether rolling several high-interest balances into a single lower-APR loan saves you money. It compares the total interest on your current debts against a consolidated loan, including origination fees, and shows the change in your monthly payment. Pair the result with our debt payoff calculator to model snowball versus avalanche ordering afterward.
Anyone juggling two or more credit card balances, medical bills, or small loans who has been offered a consolidation loan or a 0% balance transfer. It is especially useful before accepting any offer letter from a lender, because advertised rates often assume excellent credit. Run your numbers first, then compare with our balance transfer calculator.
Example Input
Total balances: $18,000 across three cards at a blended 24% APR. Consolidation personal loan: 11.9% APR over 48 months, 3% origination fee.
Sample Output
Current path interest: ~$9,870. Consolidated interest incl. fee: ~$4,640. Estimated savings: ~$5,230 and one predictable payment instead of three.
Example Input
Balances: $8,000 at 13% APR. Offered consolidation loan: 15.5% APR over 36 months.
Sample Output
The new APR is higher than your blended current rate, so consolidation increases lifetime interest. The calculator flags this and recommends keeping your current repayment plan or comparing other offers.
Use it when you receive a consolidation offer in the mail, when your combined minimums feel unmanageable, or once a year to see whether refinancing your debt stack still makes sense. If your credit improved since you borrowed, your blended rate may now be well above what lenders offer.
Enter the exact balances and APRs from your latest statements, not estimates. Include the origination fee percentage most personal loans charge (typically 1-8%). Choose a realistic term: stretching to 84 months lowers the payment but can erase interest savings. Check the offer's fine print for autopay discounts and prepayment penalties.
The biggest trap: consolidating cards and then running the balances back up, leaving you with the loan plus new card debt. Also remember this tool models interest only; it cannot predict whether you will qualify for the offered APR, and it assumes fixed rates and on-time payments throughout.
Applying typically triggers a hard inquiry (a few points, temporary). Paying off cards lowers utilization, which usually helps your score within a couple of billing cycles. Closing old cards afterward can shorten your average account age, so consider keeping them open with zero balances.
If you can clear the balance within the promotional window (usually 12-21 months), a 0% transfer with a 3% fee beats almost any loan APR. If you need longer, a fixed-rate consolidation loan protects you from the post-promo rate jump. Model both with this tool and our [balance transfer calculator](/tools/balance-transfer-savings-calculator/).
Use a dollar-weighted blend: multiply each balance by its APR, add those up, then divide by your total balance. For example, ($10,000 x 26% + $5,000 x 19%) / $15,000 = 23.7%. Enter that single figure.
Every calculation runs privately in your browser (Chrome, Safari, Edge, Firefox supported). No account, no email capture, no data sent to servers, so you can test as many lender offers as you want without anyone marketing to you.
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