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EnhancedMortgage

One Loan CheckDebt consolidation calculator

List every debt with its balance, rate and type, and this calculator adds up what they cost each month now. Then it rolls them into one new loan, opening on today's lowest advertised 1-year rate from Rates Hub over 20 years unless you set your own, and shows the monthly repayment and interest after, side by side with today.

Live comparison

Roll your debts into one consolidated loan

List your current debts, check the new loan's rate and term (it opens on today's lowest 1-year rate), and compare your total monthly repayment and interest before and after.

Current debts
Payment $92 · Interest $92 /mo
Payment $70 · Interest $70 /mo
Payment $362 · Interest $150 /mo
Payment $3,956 · Interest $2,495 /mo
Payment $637 · Interest $250 /mo
New loan
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 one new loan at 4.99% over 20 years.

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 new loan opens on today's lowest advertised 1-year rate from Rates Hub over 20 years; change either to match the offer you have.
  • 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.

$0$3K$5K$8K$10KCurrent$5KConsolidated$4KAmount

Monthly Interest

Monthly interest cost before and after consolidation.

$0$1K$3K$4K$5KCurrent$3KConsolidated$3KAmount

What this calculator shows you

One Loan Check showing Monthly payment: $837 less per month
  • Monthly repayments now versus after consolidating
  • Monthly saving
  • Interest in the first month, now versus after
  • Average rate now versus the new rate
  • Comparison charts

How to use it

  1. Add each debt: balance, rate and type.
  2. Check the new loan's rate and term, or type the offer you have.
  3. Compare monthly cost and interest.

Why use it

For your clients

  • Shows whether combining debts actually helps.

For your business

  • Structures a sensitive conversation around facts.

How it works

  • A revolving debt (a card or overdraft) is costed as interest only; a term debt as the repayment that clears it over its term.
  • The monthly interest shown for every debt is the first month's: the rate divided by 12, times the balance.
  • The new loan rolls every balance into one loan at the rate and term shown: the lowest advertised 1-year rate from Rates Hub over 20 years unless you change them. Fees are not included.
  • A longer term can lower the repayment and still cost more interest overall; the monthly figures do not show that.

Worked example: A $600,000 mortgage at 5.5% over 25 years, a $9,000 card at 19.95% and a $40,000 car loan at 9.5% over 5 years cost $4,674 a month and $3,216 in first-month interest. Combined into one new loan of $649,000 at 4.99% over 20 years, they cost $4,280 a month and $2,699 in interest: $395 a month less.

Common questions

Does a lower repayment always mean I save?
No. Spreading debt over a longer term can lower repayments but cost more interest overall.
Are fees included?
No. Break fees, establishment fees and insurance are left out.

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This calculator provides illustrative estimates based on your inputs and the stated assumptions. It is not financial advice. Consider consulting a qualified financial or mortgage adviser about your circumstances.

Last updated 6 October 2026 · Rates as at 9 Oct 2026