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Debt Consolidation Loan Calculator.
A lower rate doesn't always mean savings — a longer tenure can erase the benefit entirely. Compare the real total-interest cost of consolidating versus staying as you are.
Debt consolidation
Is combining your debts worth it?
Your existing debts
New consolidated loan offer
Side-by-side comparison
Current total EMI
New consolidated EMI
Monthly cash flow change
The tenure trap
The most common mistake in debt consolidation: stretching your remaining 1-2 years of debt into a shiny new 3-5 year loan. Even at a much lower rate, a longer tenure means paying interest for far more months — which can add up to more total interest than you'd have paid finishing your existing debts on their original schedule. Always compare total interest, not the monthly EMI, before consolidating.
Frequently asked questions
What is a debt consolidation loan?
A debt consolidation loan combines multiple existing debts — credit cards, personal loans, other high-interest borrowing — into one new loan, ideally at a lower rate, so you make a single monthly payment instead of juggling several.
Does consolidating debt always save money?
No — this is the single most important thing to check before consolidating. A lower rate can still cost you more in total interest if the new loan's tenure is meaningfully longer than what remained on your existing debts, since you're paying interest for more months even at a cheaper rate. Always compare total interest, not just the monthly EMI or the headline rate.
Is consolidating credit card debt into a personal loan a good idea?
Often yes, purely on rate — credit cards typically charge 30-45% annually on revolving balances, far above even an expensive personal loan (10-24%). The math usually favors consolidating credit card debt specifically, more so than consolidating an already-cheap secured loan like a home loan.