Debt Consolidation Calculator
Combine multiple debts into one loan and see your monthly savings and simplified repayment plan.
Your Existing Debts
Balance (₹)
Rate (% p.a.)
Payment (₹/mo)
Balance (₹)
Rate (% p.a.)
Payment (₹/mo)
Balance (₹)
Rate (% p.a.)
Payment (₹/mo)
If you are juggling multiple loans — a personal loan, car loan, credit card balance, and perhaps an NBFC loan — the mental load, multiple due dates, and typically high interest rates on some of those debts add up to significant financial stress. Debt consolidation means combining all those debts into one new loan, ideally at a lower interest rate. This calculator helps you see whether consolidation genuinely saves money and reduces your monthly burden, or whether it simply extends your debt timeline.
📋 How to Use This Calculator
Enter the details of each existing debt: outstanding balance, interest rate, and current monthly payment. Then enter the proposed consolidation loan interest rate and tenure in years. The calculator shows your current total monthly payment versus the new consolidated EMI, monthly savings, and the total interest on the consolidated loan. Compare this to understand the real trade-off: lower monthly payment may mean paying interest for longer, even if the rate is lower.
💡 Key Facts & Information
Consolidation works best when: the new loan rate is significantly lower than your highest-rate debts (credit cards at 36–48% vs personal loan at 12%), and you have the discipline not to accumulate new debt after consolidation. Watch out for: extending a short-tenure debt into a long-tenure consolidation (you pay more total interest even at lower rate), and balance transfer fees (1–2% of balance). Top sources for consolidation loans in India: personal loans from banks, top-up home loans (if you own property — rates as low as 8.5%), and fintech lenders like Navi, MoneyTap, or CASHe.