Compare your current debts with a single consolidation loan.
Rolling ₹4,20,000 of card and loan debt into a 13% four-year loan with a 1% fee: interest saved by consolidating ₹42,073.55, and the payment falls from ₹15,000.00 to ₹11,380.22.
Debt consolidation replaces several debts with one new loan, ideally at a lower interest rate. Enter each debt's balance, APR and monthly payment, then the rate, term and fee of the consolidation loan. The calculator compares total interest, the monthly payment and the time to be debt-free.
A lower monthly payment is not the same as a saving: stretching the term can raise total interest, so check the saving line. Consolidating card debt into a cheaper loan usually helps if you then stop adding new debt. See the Debt Payoff Calculator and the Personal Loan Calculator.
The calculator applies the standard financial formulas step by step.
| Item | Value |
|---|---|
| Total debts | ₹4,20,000.00 |
| Current monthly payments | ₹15,000.00 |
| Time to clear current debts | 3 years 7 months |
| Interest on current debts | ₹1,64,124.29 |
| New loan amount (with fee) | ₹4,24,200.00 |
| New monthly payment | ₹11,380.22 |
| Time on new loan | 4 years |
| Interest on new loan | ₹1,22,050.74 |
| Saving (current − new interest) | ₹42,073.55 |
| Monthly payment change | ₹3,619.78 |
| Case | Result |
|---|---|
| New loan at 10% | ₹71,901.51 |
| New loan at 13% | ₹42,073.55 |
| New loan at 16% | ₹11,270.83 |
| 13% over 3 years | ₹73,777.21 |
| 13% over 6 years | ₹24,787.06 |
Combining several debts into one loan, usually to get a lower interest rate or a single simpler payment.
No. It helps when the new rate is lower and the term is not much longer. A longer term can cost more in total interest.
Processing fees, foreclosure charges on the old loans and any balance-transfer fees. Enter the fee to include it.
Yes, commonly with a personal loan or a card balance transfer, since cards carry some of the highest rates.
Moving a card balance to another card or loan at a lower rate, often with a transfer fee.
Running up the cleared cards again. Consolidation only works if you stop adding new debt.
It uses the standard formula: saving = Σ interest on current debts − interest on the new loan The full method and a worked example are shown on this page.
No. The calculator gives estimates for planning and learning. Real offers vary by lender, product and date, so confirm the details with your bank, lender or a qualified adviser before deciding.
Yes. The maths is identical in any currency; only the currency symbol shown in the results differs.
No. Everything is calculated in your browser and nothing you enter is uploaded or saved.
