Debt Consolidation Calculator
Compare paying your current debts as they are with one consolidation loan, by monthly instalment and total cost.
Your debts and the new loan
Worked example
These are the calculator's starting values, so the results above match this example until you change an input.
A credit card, a store card and a personal loan totalling R 80 000 cost R 3 800 a month. Paid off as they are, they would be cleared in 32 months and cost R 102 248,03 in total.
A consolidation loan at 17% over 60 months, with the R 1 207,50 initiation fee added and a R 69 monthly fee, cuts the instalment to R 2 087,22. But it runs for 60 months and costs R 125 232,93 in total, R 22 984,91 more than keeping the current payments.
When consolidation helps, and when it does not
A consolidation loan pays off several debts so you have one instalment. It saves money only if the new loan’s rate and fees are low enough to outweigh the extra months of interest. A lower instalment often comes from a longer term, which can make the total cost higher, as the worked example shows. If the main aim is a smaller monthly payment, that may still be worth it, but go in knowing the price.
Things to check before you sign
- The total cost of credit on the pre-agreement quote, not just the instalment.
- The initiation fee, the monthly service fee and any credit life insurance.
- Whether you will close the cleared credit card and store accounts, so the debt does not build up again.
- Whether you can pay more than the minimum on the new loan to finish sooner.
If you are struggling to pay
If you cannot keep up with your current debts, a new loan may not be the answer. Debt review (debt counselling) under the National Credit Act lets a registered debt counsellor negotiate lower payments with your creditors. Speak to a counsellor registered with the National Credit Regulator.
How this calculator works
Each current debt is paid off month by month at its own rate and payment, and the interest is added up. The consolidation loan is a standard amortising loan on the total balance plus the initiation fee, with the monthly fee added to each instalment. Enter up to four debts; leave a balance at 0 to skip it.
Fee limits from the National Credit Regulations. Calculations use standard amortising loan maths with interest charged monthly. Checked 16 October 2026. This page is general educational information, not financial advice.
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Open calculator →Frequently asked questions
Is debt consolidation a good idea?
Only if the new loan costs less in total, or if you need a lower instalment and accept paying more overall. Compare total costs, not just monthly payments.
Does consolidating debt hurt my credit score?
Applying adds an enquiry, but paying one loan on time and closing cleared accounts can help over time. Missed payments do the real damage.
What is the difference between debt consolidation and debt review?
Consolidation is a new loan you take out yourself. Debt review is a legal process under the National Credit Act where a debt counsellor restructures your existing debts; you cannot take new credit while under review.