Debt Consolidation Calculator
Compare multiple loan repayments vs single consolidated loan
Current Loans
Monthly EMI:₹11,634
Monthly EMI:₹12,455
Monthly EMI:₹6,228
Consolidated Loan Terms
%
years
Comparison Summary
Current Total EMI
₹30,316
Consolidated EMI
₹17,122
Monthly Savings
+₹13,194
Total Principal₹10,00,000
Current Total Interest₹3,70,608
Consolidated Interest₹4,38,285
Total Interest Savings-₹67,677
⚠️ Caution
Consolidation may reduce monthly EMI but could increase total interest paid due to longer tenure. Consider if cash flow relief is worth the extra cost.
💡 Debt Consolidation Tips
•
High-Interest First: Prioritize consolidating credit cards (40%+) and personal loans
•
Shorter is Better: Longer tenure = lower EMI but higher total interest
•
Processing Fees: Factor in 1-2% processing charges on consolidated loan
•
Discipline Required: Don't accumulate new debt after consolidation