Could a personal loan lower your payment or the cost of your debt?
Enter your current balances, rates and payments. You’ll instantly see whether consolidation could save money, create monthly breathing room, or lower the payment while costing more over time.
Add your current debts
Use the payment you expect to keep making every month until each balance is paid off.
Choose a comparison setup
These assumptions are used to create the example personal-loan scenarios.
Optional affordability details
These fields are not required and do not affect the break-even APR.
Your full debt comparison
Review the complete analysis below, including your current payoff path, three loan scenarios, affordability notes, warnings and decision checklist.
Judge the loan in two different ways
A lower monthly payment and lower lifetime cost are not the same result. This section shows both before giving you a verdict.
Your estimated break-even personal-loan APR
Your selected personal-loan scenario
This uses the APR, term and fee you selected. It is an illustration—not a lender offer or approval estimate.
Compare this estimate with a real SoFi rate
Your current repayment path
These estimates assume you keep making the monthly payments entered and do not add new balances.
| Debt | Balance | APR | Payment | Est. payoff | Est. interest |
|---|
Your chosen APR is shown beside a rate four percentage points lower and four points higher.
| Scenario | APR | Monthly payment | Monthly cash flow | Interest + fee | Total repaid | Total-cost change |
|---|
What the numbers are really saying
These are the most important takeaways from the assumptions you entered.
Warnings to review
These notes flag assumptions that could change the real-world outcome.
Before accepting any personal loan
Use the calculator as a benchmark, then confirm the actual offer line by line.
Compare these numbers
- The final APR—not only the advertised starting rate.
- The origination fee and the amount you actually receive.
- The total of all payments over the full loan term.
- Whether the new payment is truly affordable every month.
- Whether there is any prepayment penalty.
Avoid these common traps
- Extending the payoff timeline without deciding whether the monthly relief is worth the added lifetime cost.
- Running credit-card balances back up after consolidation.
- Ignoring fees because the advertised APR looks lower.
- Calling a lower payment “savings” when it actually increases total repayment.
- Treating this estimate as a guaranteed approval or lender quote.
