Debt Consolidation Calculator
Would rolling your credit cards into one personal loan actually save you money — after the origination fee and the longer term? Enter what you owe today, then the loan you've been quoted, and Fetch will put the two total costs side by side.
Method and copy last reviewed · How our calculations work
What you owe right now
Add each balance with its APR and the payment you actually make each month. The monthly payment is required — without it there is no honest baseline to compare against.
What you pay today
What you pay today
What you pay today
- Total balance
- $11,400.00
- Weighted average APR
- 24.42%
- Paid per month today
- $370.00
The consolidation loan you're considering
One fixed-rate personal loan big enough to clear every balance above, including its origination fee.
The rate quoted to you
0 if the lender charges none
Current debts vs the consolidation loan
Estimated total saving
$2,994.69
Less paid overall on the consolidation loan, fee included
| Route | Monthly | Paid off in | Total interest | Total cost |
|---|---|---|---|---|
| Keep your current debts24.42% weighted APR | $370.00 | 4 yr 8 mo | $6,869.03 | $18,269.03 |
| Consolidation loan13.5% over 4 years | $318.22 | 4 yr | $3,521.76 | $15,274.34 |
- Lower monthly payment
- $51.78
- Amount borrowed
- $11,752.58
- Total saved
- $2,994.69
Versus what you pay today
Includes $352.58 origination fee
Every payment, both routes
A lower monthly payment is not the same thing as a cheaper loan. Stretching $11,400.00 over 4 years reduces each payment, but every extra month is another month of interest — which is why this table shows total cost next to the monthly figure.
The assumptions behind these numbers
- Your current baseline holds each payment flat at the amount you entered until that balance clears, with no new spending on the cards. Real minimum payments shrink as the balance falls, which would make the current route cost more, not less.
- The consolidation loan is grossed up to $11,752.58 so that after a 3% origination fee the net proceeds still clear all $11,400.00. Some lenders instead add the fee on top or deduct it from what you receive — check the paperwork.
- Both routes are carried to payoff at a fixed rate, with no extra payments, no refinancing and no missed payments.
- Everything here is an estimate for comparison only. It is not an offer, not a prediction of approval, and says nothing about your credit score.
Ask Fetch
Ask about your numbers
Fetch explains your results in plain English. Every number comes from re-running the calculator above, so the figures are exact — never generated.
When consolidation helps — and when it quietly costs more
It tends to help when the loan's APR is clearly below the weighted average APR of what you owe, the term is similar to how long your current balances would take to clear, and the fee is small. One fixed payment with a known end date also removes the trap of revolving minimums that shrink as the balance falls, which is how card debt stretches out for years.
It tends to cost more when the payment drops mainly because the term got longer. A five-year loan at a lower rate can still cost more than two years of aggressive card payments, because you are paying interest for three extra years. Origination fees add to that, since you borrow more than you owe and then pay interest on the fee as well.
This is why the comparison above leads with total cost rather than the monthly figure. Use the monthly payment to check what fits your budget, and the total cost to check whether the offer is genuinely cheaper. If it is not cheaper but the payment is the only way to stay current, that is a legitimate reason to accept a higher total — just make that choice with the number in front of you.
FetchCalc has no lender relationships behind these figures and no view on whether you will qualify for any rate. Everything here is an estimate from the numbers you entered.
Where to go next
If you would rather attack the balances without new borrowing, the debt payoff calculator shows what an extra amount each month buys you, and the extra payment calculator does the same for a loan you already hold.
If you are shopping the consolidation loan itself, price the full cost of one offer in the personal loan calculator, see what a fee does to the effective rate in the APR calculator, and put two quotes head to head in the loan comparison calculator.
Frequently asked questions
Related FetchCalc tools
- Personal Loan CalculatorMonthly payment, total interest, payoff date and a full amortization schedule.
- Auto Loan CalculatorPrice, down payment, trade-in, tax and fees — see what you actually finance.
- Mortgage CalculatorPrincipal, interest, taxes, insurance, HOA and PMI in one monthly number.
- Student Loan CalculatorPayment, payoff date, total interest and total cost on a standard repayment plan.
FetchCalc is an independent calculator and educational service. We are not a lender, broker, or financial adviser, and nothing here is financial advice. Estimates are for planning only; your actual offer and payment will come from your lender.