Tools · Calculator
Debt consolidation calculator
Add the debts you're juggling today, then see what one fixed loan could look like instead — monthly payment, total interest, and time to debt-free.
Your current debts
New consolidation loan
YOUR ESTIMATE
NEW MONTHLY PAYMENT
$172 / mo
vs $255/mo today
MONTHLY SAVINGS
$83
INTEREST SAVED
$4,166
TOTAL BALANCE
$8,500
DEBT-FREE IN
60 mo
Today's path: ~$6,005 in interest, ~61 months.
New loan: ~$1,839 in interest over 60 months.
Soft inquiry · no impact to your credit score.
Estimates only. Actual offers depend on lender review of your credit, income, and debt profile. Current-path interest is estimated assuming you continue paying the amount you entered each month; APRs and minimums may change.
How to use this calculator
- 1. List every debt you'd consolidate. Usually credit cards, store cards, and any high-APR personal loans.
- 2. Enter the current balance, APR, and minimum payment for each one — your last statement has all three.
- 3. Set a realistic new APR. 7.99% is a representative rate for strong credit in our network; use a higher number if your credit is rebuilding.
- 4. Pick a term. 60 months is the most common consolidation term — shorter saves interest, longer lowers the monthly payment.
- 5. Compare. The right side shows the new payment, what you save monthly, and how much interest you avoid.
Frequently asked questions
How does a debt consolidation calculator work?
It compares what you're paying now across multiple debts (using your balances, APRs, and minimum payments) to what a single new fixed-rate loan would cost. The difference in monthly payment and total interest is your estimated savings.
What APR should I use for the consolidation loan?
A representative APR in the Swift Financial Network is around 7.99% for well-qualified borrowers. Actual offers range from roughly 6% to 35.99% based on credit profile, income, and term.
Does this calculator affect my credit score?
No. This is a pure calculator — nothing is submitted. Checking your real rate through Swift Financial Network also uses a soft inquiry, which doesn't impact your credit.
What term length should I pick?
Personal loans typically run 24–84 months. Shorter terms mean higher monthly payments but less total interest. 60 months is the most common consolidation term.
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