Consolidation ads always promise one lower payment. What they don’t show you is the math that decides whether it’s actually cheaper — and sometimes it isn’t. Our new debt consolidation calculator does that math for you, plainly.
Add every debt’s balance and APR, then enter the rate and term of a consolidation loan you’re considering. Every debt gets amortized over the same timeline so the comparison is apples to apples, then we sum them up against a single consolidated loan over that same term. On three example debts totaling $15,000 at a 20.40% blended rate, consolidating into an 11% loan over 36 months saves $2,538.15 in total interest and cuts the combined monthly payment by over $70. Offer a worse rate than your blended average, though, and the tool says so just as directly — consolidating isn’t automatically the win the ads suggest.
It doesn’t factor in origination or balance-transfer fees, which is worth remembering when comparing a real offer, but on the interest math that matters most, it’s honest either way.
As with every tool here, results update as you type, your inputs live in the link so you can share a scenario, and the math runs entirely in your browser. You can also embed the calculator with one iframe.