Debt Consolidation Calculator

Consolidating combines several debts, such as store cards, credit cards and small loans, into one loan. It can lower your monthly payment, but a longer term can mean paying more interest overall. This calculator shows both sides.

How this calculator works

• Enter the total balance and combined monthly payment of the debts you want to replace.
• Enter the rate and term of the consolidation loan you are considering.
• The tool compares the new monthly payment and what you would pay in total.

Worked example

Paying R4,200 a month on R60,000 of store and credit card debt could drop to about R1,900 on a 48-month loan at 22%, but check the total repayable too.

FAQs

Is consolidation the same as debt review?

No. Consolidation is a new loan you take on yourself. Debt review is a legal process under the National Credit Act where a debt counsellor restructures your debts. Read our debt review guide for the difference.