Debt Consolidation Calculator
Compare what you're paying across your current debts against a single consolidation loan — monthly payment AND total interest, side by side, with an honest warning if a lower monthly payment means a longer term.
Not financial advice. This is an estimate — representative figures, not financial advice. If you're struggling with debt repayments, free, independent help is available from MoneyHelper (moneyhelper.org.uk) and StepChange (stepchange.org).
Add your debts and a consolidation loan
Enter a balance, APR and monthly payment for each debt, plus the consolidation loan's rate and term, to compare your current monthly total and interest against the consolidated loan.
How this comparison is calculated
For your current debts, each one is simulated separately at its own balance, APR and monthly payment — interest is added to the balance every month, then the payment is applied, until it clears. The consolidation loan is calculated the standard way any fixed-rate loan is: a level monthly payment over the term you choose, at the rate you enter. Total interest is simply the total repaid minus what you borrowed, for both sides. The comparison is deliberately shown as monthly payment AND total interest together, because looking at only one of them can be misleading — a lower monthly payment achieved by stretching the term is very often a more expensive decision in total.