Debt Consolidation Savings Calculator
$
$1,000$100,000
Combined balance of all debts
%
5%30%
Weighted average interest rate
%
3%20%
Rate offered on consolidation loan
years
1 years7 years
Length of consolidation loan
$
$100$5,000
Total current monthly payments
Total Interest Saved
$3,937.68
New Monthly Payment
$424.84
Monthly Savings
$175.16
New Total Interest
$5,490.55
Current Path Interest
$9,428.23
New Monthly Payment$424.84
Monthly Savings$175.16
New Total Interest$5,490.55
Current Path Interest$9,428.23
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Rate source: Financial Consumer Agency of Canada