Personal Loan & Debt Consolidation Calculator
Fixed & Variable Rates • Comparison Rates (NCCP) • Consolidate Multiple High-Interest Debts
Loan Parameters
Model a standard personal loan or evaluate debt consolidation savings.
Includes $10.00 monthly account keeping fee.
Repayment Frequency Options
| Frequency | Repayment | Annual Outlay | Total Loan Cost |
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How Australian Debt Consolidation Works
Why Consolidate High-Interest Debt?
Australian credit cards often charge 19.99% to 24.99% interest. If you carry $20,000 across multiple cards, you are losing thousands of dollars every year in dead interest. By rolling those cards into a single fixed personal loan at 8.99% or 9.99%, you immediately slash your interest rate in half and establish a strict, fixed payoff schedule (e.g. debt-free in 36 months).
Understanding Comparison Rates
Under the National Credit Code, Australian lenders must display a Comparison Rate. This rate factors in the headline interest rate plus establishment fees and ongoing monthly account-keeping fees. Always compare personal loans by their Comparison Rate rather than just the advertised base rate.
Next Steps & Related Australian Calculators
Strengthen your financial plan with these interconnected statutory computational models.
Credit Card Payoff Accelerator
Consolidate 20%+ credit cards into a lower-rate personal loan.
Australian Car Loan & Balloon
Compare personal loans with secured vehicle financing.
Borrowing Power Calculator
See how paying off personal loans boosts mortgage borrowing power.
Emergency Fund Planner
Build an emergency cash buffer to prevent future reliance on personal loans.