Balance Transfer & Debt Consolidation Calculator
Consolidate multiple personal loans, business loans, and credit card dues into one affordable EMI. See exactly how much interest you save and simplify your monthly payments.
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Consolidation Loan
How Does Debt Consolidation Work?
Debt consolidation combines multiple outstanding debts—personal loans, business loans, and credit card balances—into one single loan with a lower interest rate and a single monthly EMI. This simplifies repayment and can dramatically reduce your total interest outgo.
For example, consolidating a personal loan at 18% p.a., a business loan at 16% p.a., and a credit card balance at 36% p.a. into one loan at 10.5% p.a. can save lakhs in interest over the repayment period.
Types of Debt You Can Consolidate
- Personal & Business Loans: Enter the original loan amount, EMI, total tenure, and EMIs paid. The calculator precisely computes the remaining outstanding balance using standard amortisation.
- Credit Card Balances: Revolving credit card dues carry 36–48% p.a. in India—the most expensive form of retail credit. Moving these to a term loan at 10–14% p.a. typically saves the most money.
When Should You Consolidate?
- Multiple EMIs: Managing several due dates is error-prone. One EMI removes complexity.
- High Interest Debt: Especially useful if you carry credit card dues or high-rate personal loans.
- Monthly Cash Flow Stress: A longer tenure on the consolidation loan reduces your monthly outgo.
- Credit Score Improvement: Replacing revolving credit with a term loan can improve your CIBIL score over time.
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Frequently Asked Questions
What is a Balance Transfer or Debt Consolidation?
A balance transfer (or debt consolidation) is when you combine multiple loans and credit card dues into one single loan at a lower interest rate. This simplifies repayment and often reduces the total interest burden.
Which debts can I consolidate?
You can consolidate personal loans, business loans, and credit card outstanding balances. Banks offer a single consolidation loan whose proceeds are used to close all existing debts.
How is the outstanding loan balance calculated?
The calculator uses the details you provide—original loan amount, EMI amount, interest rate, total tenure, and EMIs paid—to compute the remaining principal using the standard amortisation formula. If you enter the interest rate, it reverse-calculates precisely; otherwise it uses a proportional estimate.
What is the typical credit card interest rate used?
Indian banks charge 36–48% p.a. on revolving credit card balances. Our calculator defaults to 36% p.a.—the lower end—but you can edit it to match your actual card rate.
What happens if my consolidation loan amount is less than total outstanding?
The calculator shows a warning message. Your consolidation loan must be at least equal to your total outstanding balance to fully pay off all debts. You can adjust the loan amount using the + / − controls.
Will balance transfer always save money?
Savings depend on the new interest rate vs your current weighted average rate, the new tenure, and any processing fees. The calculator shows you the exact interest savings so you can make an informed decision.
Is there a minimum or maximum consolidation loan amount?
Our calculator supports consolidation loans from ₹10,000 to ₹5 Crore. New loan tenure can be 12 to 360 months, and interest rates from 5% to 36% p.a.
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