Use the debt consolidation calculator below to see how much you can save with a debt consolidation loan. See what your new monthly payment would be and how much you can save in interest payments.
How to use the calculator:
Step 1: Select the number of loans you want to consolidate.
Step 2: Fill in the boxes with the information required for the number of loans you want to consolidate.
Step 3: Fill in the “Annual Interest Rate” and the “Term” boxes for the consolidation loan and let our mighty calculator do the work for you!
Here’s what each of the fields means:
- Loan balance: the amount you have left to pay on the loan principal.
- Annual Interest Rate: the amount you pay every year to borrow money, including fees, expressed as a percentage.
- Term remaining: the number of days/months left to repay the loan.
- Monthly Payment: the amount paid to your lender each month in order to repay a loan.
- Total Payments: the total amount of money paid towards the loan.
- Total Interest: the total amount of money paid in interest.
📘 If you’re looking to learn more about debt consolidation be sure to read our guide: Debt Consolidation 101