Debt Consolidation Calculator
Combine debts and compare new vs current cost.
| Debt | Balance | Rate % | Monthly | |
|---|---|---|---|---|
Consolidation loan
%
years
New monthly repayment
$555.48
Currently paying $850.00/mo across 3 debt(s).
| Total balance to consolidate | $25,000 |
|---|---|
| New monthly repayment | $555.48 |
| Current total monthly | $850.00 |
| Monthly change | -$294.52 |
| Total interest under new loan | $8,329 |
About this calculator
Add up your existing debts, set a single new rate and term, and see the new monthly cost.
- Consolidation only saves money if the new rate is materially lower than the weighted average of the old debts.
- Spreading debt over a longer term lowers the payment but can increase total interest.
Frequently asked questions
When is consolidation a bad idea?
When you re-accumulate the original debts after consolidating, ending up with double the burden.
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Calculator NZ provides general information only. For decisions with significant financial, medical or legal consequence please consult a qualified professional.