Debt consolidation (Interest savings)
Calculate Debt consolidation instantly with the exact formula and a worked example.
Debt consolidation
Total debts$
Average rate on debts%
Remaining termmo
New loan rate%
New loan termmo
New loan fees$
Interest savings
85,461$
Payment now
19 880$
Payment after consolidation
17 506$
Interest now
215 677$
Interest after consolidation
130 216$
More about: Debt consolidation (Interest savings)
What it calculates
The “Debt consolidation (Interest savings)” calculator computes Interest savings in $ from 6 parameters: total debts ($), average rate on debts (%), remaining term (months), new loan rate (%), new loan term (months), new loan fees ($).
A handy everyday calculator for daily tasks.
Example calculation
With parameters Total debts = 500,000 $, Average rate on debts = 25 %, Remaining term = 36 months, New loan rate = 15 %, New loan term = 36 months, New loan fees = 5,000 $ the result is 85,461 $ (Average rate is weighted by debt balances).
How to use
- Enter total debts, average rate on debts, remaining term, new loan rate, new loan term and new loan fees — each field above is adjustable with a slider.
- Interest savings ($) is calculated automatically as you type.
- Check the worked example below to see the formula applied to real numbers.
- Copy the result or bookmark this calculator.
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FAQ
How is Debt consolidation (Interest savings) calculated?
The Debt consolidation (Interest savings) calculator computes Interest savings (in $) from total debts, average rate on debts, remaining term, new loan rate, new loan term, new loan fees. Enter your values above and the exact formula is applied instantly; a worked example with real numbers is shown below.
Is the Debt consolidation (Interest savings) calculator free?
Yes. It is completely free, needs no signup, runs entirely in your browser, and sends no data to any server.
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