Debt Consolidation Calculator
Compare keeping your debts separate against one consolidation loan: payoff times, blended APR, total interest and whether the fee and longer term are worth it.
Your current debts
Name, balance, APR % and the payment you make each month.
Each debt on its own
| Debt | Balance | APR | Payment | Payoff time | Interest |
|---|---|---|---|---|---|
| Credit card A | $6,000 | 22.90% | $180.00 | 4 yr 6 mo | $3,626.31 |
| Credit card B | $3,500 | 19.90% | $105.00 | 4 yr 1 mo | $1,637.27 |
| Store card | $1,800 | 27.50% | $60.00 | 4 yr 4 mo | $1,280.25 |
| Personal loan | $4,200 | 12.50% | $200.00 | 2 yr | $564.51 |
Keep them separate vs consolidate
| Plan | Monthly payment | Debt free in | Total interest | Total cost |
|---|---|---|---|---|
| Keep them separate | $545.00 | 4 yr 6 mo | $7,108.35 | $22,608.35 |
| One consolidation loan | $412.47 | 4 yr | $3,988.43 | $19,488.43 |
Consolidating frees up about $132.53 a month.
Each existing debt is amortised at its own APR against the payment you make today, assuming that payment stays flat. A longer consolidation term can lower the monthly payment while raising total interest, so compare the total-cost column, not just the payment. Estimates only, not financial advice.
What is the Debt Consolidation Calculator?
The ByteTools Debt Consolidation Calculator takes a table of your existing debts — balance, APR and the payment you make each month — and amortises each one independently to find how long it takes to clear and what it costs in interest.
- Multi-row debt table with per-debt payoff time and interest
- Balance-weighted blended APR across all your debts
- Consolidation loan with an editable origination fee, rolled or paid up front
- Side-by-side totals for payment, payoff time and total cost
- Flags debts whose payment does not cover their interest
- Private in-browser math; estimates only, not advice
How to use the Debt Consolidation Calculator
- 1
List each debt with a name, balance, APR and the monthly payment you currently make.
- 2
Add or remove rows until the table matches your real situation.
- 3
Enter the consolidation loan's APR, term and origination fee percentage.
- 4
Choose whether the fee is rolled into the loan or paid up front in cash.
- 5
Compare the two plans on monthly payment, time to debt free and total interest.
About the Debt Consolidation Calculator
The ByteTools Debt Consolidation Calculator takes a table of your existing debts — balance, APR and the payment you make each month — and amortises each one independently to find how long it takes to clear and what it costs in interest. It also computes a balance-weighted blended APR so you know the real average rate you are paying today.
Against that it models a single consolidation loan: the amount needed, an origination fee you can either roll into the loan or pay up front, a new APR and a new term. The comparison shows monthly payment, time to debt free and total interest for both plans side by side.
The catch with consolidation is that a lower payment often comes from a longer term rather than a lower rate, so the total-cost column is the one to read. If any debt's payment does not cover its interest, the tool says so honestly rather than inventing a payoff date. All local, nothing uploaded. Estimates only, not financial advice.
Frequently asked questions
Does debt consolidation actually save money?
Only if the new rate is low enough to beat your blended APR and the term is not stretched too far. A longer term lowers the monthly payment while raising total interest, so compare the total-cost column in this tool rather than just the payment.
What is a blended APR?
It is the balance-weighted average of your rates: each debt's balance times its APR, summed, divided by the total balance. It tells you the average rate you are genuinely paying, which is the number a consolidation loan has to beat.
Do consolidation loans have fees?
Personal loans commonly charge an origination fee of roughly 1% to 8% of the amount borrowed, either deducted from the proceeds or rolled into the balance. This calculator lets you model it both ways because it changes the effective cost.
Will consolidating hurt my credit score?
There is usually a small dip from the hard inquiry and the new account, but paying off revolving balances can lower your credit utilisation and help over time. The bigger risk is running the cleared cards back up, which leaves you with both the loan and the cards.
Why does one of my debts say it never clears?
Because the monthly payment you entered is less than or equal to the interest accruing on it, so the balance never falls. That debt is excluded from the comparison totals and flagged, since giving it a payoff date would be meaningless.
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