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Personal Finance

Debt Consolidation

Combine multiple debts into one loan and compare repayments and total interest.

Live comparison

Roll your debts into one consolidated loan

List your current debts, choose which loan to consolidate into (usually your mortgage), and compare your total monthly repayment and interest before and after.

Current debts

ProductLenderBalance (NZD)Rate (p.a.)TypeTerm (months)

Payment $92 · Interest $92 /mo

ProductLenderBalance (NZD)Rate (p.a.)TypeTerm (months)

Payment $70 · Interest $70 /mo

ProductLenderBalance (NZD)Rate (p.a.)TypeTerm (months)

Payment $362 · Interest $150 /mo

ProductLenderBalance (NZD)Rate (p.a.)TypeTerm (months)

Payment $3,956 · Interest $2,495 /mo

ProductLenderBalance (NZD)Rate (p.a.)TypeTerm (months)

Payment $637 · Interest $250 /mo

Consolidated loan

Consolidate intoThe new loan uses this debt's rate and term. Defaults to your largest debt.Override rate & term

Current repayment

$5,117

per month

New repayment

$4,280

per month

Monthly payment: $837 less per month

Monthly interest: $358 less per month

Current interest $3,057/mo

New interest $2,699/mo

Avg current rate 5.65%

New rate 4.99%

$649,000 rolled into Mortgage Loan over 240 months.

Monthly Payment

Total monthly repayments before and after consolidation.

Monthly Interest

Monthly interest cost before and after consolidation.

Description

This calculator compares your combined monthly repayments and first-month interest with one new consolidated loan. It estimates the immediate monthly cashflow change, not total savings over the full life of the loans.

Assumptions

All entered balances are rolled into one new loan with monthly repayments.
Revolving debts are treated as interest-only, so their current payment equals one month's interest and does not reduce principal.
Term debts use a level payment that fully amortises the balance over the entered remaining term.
Monthly interest is the first month's interest: balance multiplied by the annual rate, divided by 12.
The consolidated loan uses the selected debt's rate and term, defaulting to the largest debt, unless you enter an override.
Rates stay constant. Fees, refinancing costs, penalties, insurance, taxes, missed payments, and extra repayments are excluded.

A lower monthly repayment can result from using a longer term and may increase the total amount paid. Compare the full loan costs before deciding whether to consolidate.

Description

This calculator compares your combined monthly repayments and first-month interest with one new consolidated loan. It estimates the immediate monthly cashflow change, not total savings over the full life of the loans.

Assumptions

All entered balances are rolled into one new loan with monthly repayments.
Revolving debts are treated as interest-only, so their current payment equals one month's interest and does not reduce principal.
Term debts use a level payment that fully amortises the balance over the entered remaining term.
Monthly interest is the first month's interest: balance multiplied by the annual rate, divided by 12.
The consolidated loan uses the selected debt's rate and term, defaulting to the largest debt, unless you enter an override.
Rates stay constant. Fees, refinancing costs, penalties, insurance, taxes, missed payments, and extra repayments are excluded.

A lower monthly repayment can result from using a longer term and may increase the total amount paid. Compare the full loan costs before deciding whether to consolidate.

Monthly Payment

Total monthly repayments before and after consolidation.

Monthly Interest

Monthly interest cost before and after consolidation.