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Debt Consolidation Loan Calculator

Updated 5 January 2026
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Our calculator shows you are paying now on your current interest rate and the savings you could make my taking out a debt consolidation loan. Our debt consolidation guide outlines the latest and lowest interest rate deals to save you money.

If your debt is credit card or similar, consider applying for a balance transfer credit card - interest rates are currently 0% for up to 12 months.

How this calculator works:
  1. Simply enter in your current loan amount, current interest rate and the term of your loan (in years) and the debt consolidation interest rate. 
  2. The calculator shows your new monthly payments, how much you can save to help you pay off debt faster.

​November Alert: Are you looking for cost-effective car finance? Simplify Slashes Rates - now from 6.85% p.a.
For borrowers with decent credit and affordability (we believe if you're reading and comparing on MoneyHub, there's a greater chance that's you), Simplify just dropped its rates to the lowest we've seen in some time:
Many readers checking multiple lenders and reading guides already have the credit profile these rates require - you can confirm this in 1-2 minutes using Simplify.
Debt Consolidation Calculator
Consolidate your debt at the new rate:
Lower repayments
Keep repayments the same
Monthly Repayments:
$0
Difference per month:
$0
Interest Saved over Loan Term:
$0
Christopher Walsh
MoneyHub Founder
Unlock the Best Personal Loan Rates with MoneyHub – Don't Overpay When Getting Personal Loan

Are you tired of overpaying with high interest rates and exorbitant fees? Our research shortlists three outstanding lenders known for their fair rates and reliable service:
Checking what interest rate you'll get is quick and easy - just a few minutes could save you thousands, given the range of interest rates. 

Remember, it's the interest rate you agree to now that makes a huge difference when you repay your loan week after week. We believe that signing up for finance with a car salesperson or via a bank is unlikely to be the cheapest option.

Advertising Disclosure: We may earn a commission from loans, but our top picks are always based on rigorous research and your best interest.
MoneyHub Founder Christopher Walsh shares his comments about Harmoney:

"I've read Harmoney's company accounts and here's what matters - they're a publicly listed company (on the ASX), which means their finances are independently audited every year - everything's out in the open. Our Harmoney review explains more.

They've just made their first profit after years of building their system. That's good news for anyone borrowing money - a lender making money isn't desperate, so they're less likely to sting you with surprise fees or play hardball if you hit a rough patch.

Here's the stat that matters most to me - only 0.74% of their borrowers fall behind on payments. The industry average is 1.59% - more than double. That tells me Harmoney lends to people who can actually afford the repayments.

If you've got a stable income and haven't missed payments lately, you're exactly who they're looking for - and you'll probably get a much better rate than someone who's already struggling.

Their online system gives you a quote in 90 seconds without it affecting your credit history, and if the rate's no good, walk away - what they offer is full transparency from click to quote". 
Christopher Walsh
MoneyHub Founder
Could You Get a 7.99% Interest Rate? Find Out in 90 Seconds
  • Harmoney isn't for everyone - and that's the point.
  • Most other lenders charge 13.90% or more. Harmoney's best rate is 7.99%. On a $20,000 loan over 3 years, that's around $2,000 in interest savings.
  • We read their recent financials and confirmed their borrowers have an arrears rate of just 0.74% - half the industry average. This means they offer affordable loans which explains the positive customer ratings (4.7/5) from 60,000+ online reviews.
  • Harmoney's automated platform gives you a personalised quote instantly - with no credit history impact or obligation.
  • We are pleased to recognise Harmoney as MoneyHub's Favourite Online Lender 2025​
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