Debt Consolidation Calculator
Calculate if consolidating multiple debts into one loan will save you money. Compare current payments with a consolidated loan.
Results
New Consolidated EMI
₹0
Monthly Savings
₹0
Total New Payment
₹0
How to Use Debt Consolidation Calculator
- 1
Enter total debt from all sources
- 2
Input current total monthly payments
- 3
Enter consolidation loan rate and tenure
- 4
Compare new EMI with current payments
Debt Consolidation Calculator Formula
New EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]; Savings = Current EMI - New EMIExample Calculation
Input Values
Total Debt Amount
₹5,00,000
Current Monthly Payments
₹25,000
Consolidation Loan Rate
12 %
New Loan Tenure
36 months
Results
New Consolidated EMI
₹16,607
Monthly Savings
₹8,393
Total New Payment
₹5,97,857
Frequently Asked Questions
When should I consolidate debt?
Consolidate when you can get a lower overall interest rate, simplify payments, or need lower monthly payments.
Does debt consolidation affect credit score?
Initially it may slightly lower your score, but consistent payments on the new loan can improve it over time.
What debts can be consolidated?
Credit card debt, personal loans, education loans, and other unsecured debts can typically be consolidated.