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Debt Consolidation Loan Calculator

Loan Calculator for Debt Consolidation

Estimate debt consolidation interest savings, and payments, with our fast and easy loan calculator

Over 3 years, with a monthly payment of $418.87, and an APR of 19.17%, you could save this estimated amount of interest:
+$11,328
Your Estimated Monthly Payment
$418.87
Estimated APR
19.17%

Note: This calculator is a self-help tool for your independent use and is intended for illustration purposes only. Results aren't guaranteed, and may not be relevant to your specific circumstance.

Loan Amount
$15,000
$2,000 $40,000
Credit Score
675
300 850
Current Debt APR
22.5%
10% 35%

How Does the Loan Calculator Work?

We calculate your interest savings estimate by weighing the financial information you entered alongside historical data on loans and an estimation of what your rate for a loan would be based on your credit score.

Eligibility for a personal loan is not guaranteed. But filling out an application takes fewer than 5 minutes, and it will take a few additional factors related to your creditworthiness into account—such as your employment, income, credit usage, history, and more—to generate an offer and fine-tune your potential savings in interest.

Frequently Asked Questions (FAQs) About Personal Loans Calculator

What is the minimum credit score for a loan?
There's no hard and fast rule for the minimum acceptable credit score for personal loans—it all depends on the lender. Applicants with FICO scores above 600 have the best chances of being approved, but many lenders use multiple factors to determine eligibility.
Do debt consolidation loans work?
Debt consolidation loans can be a great way to improve your personal financial health. If you have accrued debt from multiple credit cards that have high interest rates, a personal loan for debt consolidation could offer you a lower rate than the average of your cards' rates.
How do I combine all debts into one payment?
Depending on what kinds of debts you have and the average interest rate those debts carry, debt consolidation can be a great way to consolidate your debts into a single payment. Debt consolidation can make sense if you've calculated that you will pay less cumulative interest by doing so.

How does Prosper’s loan calculator work?

We calculate your interest savings estimate by weighing the financial information you entered alongside historical data on loans and an estimation of what your rate for a loan through Prosper would be based on your credit score.

Eligibility for a personal loan is not guaranteed. But filling out an application takes fewer than 5 minutes, and it will take a few additional factors related to your creditworthiness into account—such as your employment, income, credit usage, history, and more—to generate an offer and fine-tune your potential savings in interest.

Since 2005, over 1 million people have chosen Prosper to help fund their dreams.

See our 1,157 reviews on

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Take charge of your finances with a quick and easy custom solution. Use the Blue Vera platform to consolidate debt, finance home improvements, pay for healthcare, apply for a home equity line of credit, or get a credit card in just a few simple steps.

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