Skip to content
OneKitly
Sign up · Sign in

Debt Consolidation Calculator

List your debts and a consolidation loan to see if it lowers your monthly payment and total interest.

Related tools

All Loans & credit tools →
Debt Payoff Calculator (Avalanche vs Snowball)Add every debt you owe with its balance, rate and minimum, add whatever you can pay on top, and the tool simulates both classic orders month by month: avalanche attacks the highest rate, snowball the smallest balance. Avalanche always costs less interest; snowball usually clears the first debt sooner. Both numbers are shown so the choice is yours.Debt-to-income ratio calculatorCompute your debt-to-income ratio and remaining monthly borrowing room.Balloon Loan CalculatorWorks out the instalment and the balloon lump sum for a loan amortised over one term but repaid in full after a shorter one. The balloon is the true remaining principal after k payments, not the amount borrowed minus the payments made — the two differ by tens of thousands. Interest-only balloons are handled too, with the full schedule.Car Loan Payoff CalculatorHow long to pay off your car loan, total interest and payoff date — plus the effect of an extra payment.Credit Card Payoff CalculatorTime to clear a card balance from a fixed payment — or the payment needed to clear it by a target date.Loan Comparison CalculatorCompare two loans side by side — monthly payment, total interest and total cost — to find the cheaper one.Personal Loan CalculatorMonthly payment, total interest and full schedule for a personal loan given in months rather than years. The extra-payment field is the interesting one: it recomputes the whole schedule rather than scaling it, and reports exactly how many months and how much interest the extra removes.Student Loan Payoff CalculatorMonths to clear your student loan, total interest and payoff date, with an optional extra payment.

Debt Consolidation Calculator is free to use as often as you like, directly from this page. Its place is under Loans & credit; Debt Payoff Calculator (Avalanche vs Snowball) and Debt-to-income ratio calculator answer the questions closest to this one.

How to use it

  1. Open the tool — no signup or install needed.
  2. Enter your input or adjust the available options.
  3. Get your result instantly, then copy or download it.

Frequently asked questions

What does Debt Consolidation Calculator do?

List your debts and a consolidation loan to see if it lowers your monthly payment and total interest.

When would I actually use this?

Before signing: checking whether the instalment fits the budget, comparing two offers at different rates and terms, and seeing what a shorter term really costs each month.

What is the most common mistake?

Comparing monthly instalments instead of total interest. A longer term always looks cheaper each month and costs more overall — the two figures move in opposite directions.

How is Debt Consolidation Calculator different from Debt Payoff Calculator (Avalanche vs Snowball)?

They sit next to each other but answer different questions: Debt Payoff Calculator (Avalanche vs Snowball) is the one to open when you need it to add every debt you owe with its balance, rate and minimum, add whatever you can pay on top, and the tool simulates both classic orders month by month: avalanche attacks the highest rate, snowball the smallest balance. Avalanche always costs less interest; snowball usually clears the first debt sooner. Both numbers are shown so the choice is yours. Pick whichever matches what you're starting from — both are free.

Is there a tool for the next step?

Debt-to-income ratio calculator is the closest one after this: Compute your debt-to-income ratio and remaining monthly borrowing room.

What else is worth having open alongside it?

Balloon Loan Calculator and Car Loan Payoff Calculator — they come up in the same task often enough to be worth a second tab.

Where do the figures come from?

The amortisation arithmetic is standard and exact; the rate is yours to supply. Lenders add fees, insurance and sometimes a different compounding convention, so treat the result as the loan's own cost, not the offer's APR.

Further reading

All guides →
ExplainerConsolidating Debt Moves It, and Sometimes Costs MoreFour balances of $20,000 at 20.6 percent blended, cleared on a $680 budget, cost $7,085 in interest. One loan at 9.9 percent over seven years cuts the payment to $330.99 — and costs $7,803. The break-even term is 77 months.ComparisonDebt Avalanche vs Snowball: What the Difference Actually CostsOne method targets the highest interest rate, the other the smallest balance. On a realistic set of debts the gap is smaller than most people expect — here is the calculation.How-toHow to Pay Off Credit Card Debt: The Minimum Payment Trap in NumbersPaying the minimum on $5,000 at 20 percent takes 40 years and costs $18,500 in interest. A fixed $200 a month clears it in under three years for $1,522. Here is the method.ExplainerThe EMI Formula Explained — and Why a Longer Term Is Mostly a Transfer to the LenderEMI = P·i·(1+i)^n ÷ ((1+i)^n − 1). On $300,000 at 6 percent, doubling the term from 15 to 30 years cuts the payment by 29 percent but multiplies the interest by 2.2 — from $155,683 to $347,515.GuideShould You Pay Off a Car Loan Early? The Rule, and the Three ExceptionsSettling a $20,000 car loan at 7 percent two years in saves $1,431 of interest — but only $663 of that is a real gain if the cash was earning 4 percent, and precomputed interest can take $62 or more off the top.GuideStudent Loan Repayment Strategies: Five Routes Through the Same $30,000Standard, extended, overpaid, refinanced or income-linked: the same $30,000 at 5 percent costs anywhere from $35,716 to $52,613. And where a scheme writes the balance off, overpaying can cost $11,178 and buy nothing.