Debt Consolidation Calculator
Your loans as they are against one loan that replaces them: the EMI, the interest and the fee
Interest and fee saved
₹56,062
- EMIs now
- ₹30,316
- New EMI
- ₹21,742
- Lower each month by
- ₹8,574
Foreclosure charges on the old loans are not included unless you add them to the fee.
Now
- Loan 1: ₹5,00,000 at 14.00%
- ₹11,634 a month, ₹1,98,048 interest
- Loan 2: ₹2,00,000 at 42.00%
- ₹12,455 a month, ₹98,910 interest
- Loan 3: ₹3,00,000 at 9.00%
- ₹6,228 a month, ₹73,650 interest
- Interest still to pay
- ₹3,70,608
One loan
- Amount
- ₹10,00,000
- EMI
- ₹21,742
- Interest
- ₹3,04,545
- Processing fee
- ₹10,000
- Interest and fee
- ₹3,14,545
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How this is calculated
Formula
saving = Σ interest left on each loan − (new loan interest + fee)
With your numbers
- 1Interest left now₹3,70,608
- 2New loan₹10,00,000 at 11.00% over 5 years: ₹3,04,545 interest + ₹10,000 fee
- 3Saving₹56,062
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