Debt consolidation
Debt Consolidation Calculator
Compare keeping your current debts with a consolidation loan, including fees, to see whether consolidating actually saves money.
$
%
Weighted by balance, if you have several cards.
$
%
mo
%
Added to the loan here.
New monthly payment
$411
Total cost of new loan (interest + fee)
$4,719
You'd save
$5,247
| Option | Monthly | Time | Interest + fees |
|---|---|---|---|
| Keep current debts | $450 | 4 yr 8 mo | $9,966 |
| Consolidation loan | $411 | 4 years | $4,719 |
A lower payment isn't the same as a lower cost: stretching the term can cost more overall. Consolidation only works if the cleared cards don't fill up again. Your actual rate depends on your credit profile.
