Estimate the financial pros and cons of consolidating and refinancing your debts, including break costs, establishment fees and interest rate differentials. This calculator also includes a comparison amortisation schedule with break-even point, and charts to help you understand whether or not a debt consolidation strategy could be beneficial over time.
Calculator results are estimates only and not quotes. Actual quotes will be provided by licensed brokers after you submit an enquiry.
Debt Consolidation Calculator
Compare your existing personal debts with a single consolidation loan. See whether consolidation could reduce repayments or interest, how it may change the time taken to become debt-free, and where a lower repayment could come at the cost of paying interest for longer. Home mortgages are intentionally excluded.
1. Current debts
2. Consolidation loan
3. Results
4. Charts
5. Amortisation tables
Step 1 – Current debts
Add each personal debt you may want to consolidate. Do not include your home mortgage.
Step 2 – Proposed consolidation loan
Lets you compare consolidating while still paying extra.
Step 3 – Consolidation comparison
$0
Current debt being consolidated
$0
Current combined monthly repayments
$0
Proposed consolidation repayment
$0
Monthly cash-flow change
Comparison
Keep current debts
Consolidate
Difference
Monthly repayments
Estimated interest
Fees
Total future cost
Estimated debt-free time
Potential advantages
Potential disadvantages / cautions
Comparison summary
This is a general mathematical comparison, not a recommendation or credit assessment. Actual rates, fees, early repayment costs and credit eligibility can change the outcome.
Step 4 – Charts
Debt balance over time
Future cost comparison
Monthly repayment comparison
Step 5 – Amortisation tables
How to use our Debt Consolidation Calculator
Our Debt Consolidation Calculator helps you estimate the potential pros and cons of combining multiple personal debts into one new consolidation loan. It models interest rate differentials, establishment and ongoing fees, and any early exit or break costs, then compares the total future cost, repayment size, and estimated time to become debt-free. This matters because a lower monthly repayment can improve cash flow, but a longer term or added fees can increase the total interest you pay over time.
1. Step 1: Current debts
Enter each debt you may want to consolidate (for example credit cards, personal loans, car loans). Use figures from your latest statements for the best accuracy.
For each debt, add the current balance, interest rate, required repayment, remaining term (if known), and any monthly fees. If there are early repayment, exit, or break costs, include them so the comparison reflects the real cost of switching.
2. Step 2: Consolidation loan assumptions
Enter the proposed interest rate (percent per annum) and choose a loan term that matches how quickly you realistically want to repay. Add establishment or upfront fees (and whether they are added to the loan) and any ongoing monthly loan fee. If you plan to keep paying extra each month, enter an optional extra monthly repayment to see how it changes the break-even point and debt-free date. Set the indicative first repayment date to align the amortisation schedule with your timing.
3. Step 3 to 5: Interpreting results, charts, and tables
Review the side-by-side comparison of keeping current debts versus consolidating, focusing on monthly repayments, estimated interest, fees, total future cost, and estimated debt-free time. The break-even point is when cumulative savings outweigh refinancing and break costs. Use the charts to see how your balance declines over time and whether savings come from lower interest, a longer term, or both. Finally, check the amortisation tables to confirm the month-by-month split of principal and interest and when the loan is projected to be fully repaid.
This calculator provides general information only and is not personal financial advice or a credit assessment. Consider your objectives, financial situation and needs, and think about getting help from a licensed adviser or a qualified professional if you are unsure.
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