Debt Consolidation Loan Calculator

You can use a debt consolidation loan to restructure any existing debts into one more manageable monthly repayment. Find out what you may be able to borrow with our debt consolidation loan calculator. You can see what your monthly repayments may be based on the interest rate you could be charged.

26% APR 

Representative example


Representative 26% APR fixed, based on a loan amount of £5,000, over 5 years. This would give you a monthly repayment of £141.92 and a total amount repayable of £8,5152.01.


Top FAQs:

Things to consider before consolidating debt

Before you apply for a debt consolidation loan, consider:

Your monthly repayments: It’s so important to only borrow what you can afford. If you miss any monthly repayments, it can negatively impact your credit score.

How much you should borrow: Only apply for the amount you need. It will need to be repaid in the future, so only ask for the minimum required to cover your debt. Also make sure you don’t start spending on your credit cards again, as this will increase your debt further.

Your overall debt: A debt consolidation loan may reduce your repayments each month, but remember, by consolidating existing borrowing, you may be extending the term of the debt and increasing the total amount you repay.

Your financial problems: Borrowing more money to pay off your debt doesn’t tackle the reasons why you got into debt in the first place. As well as borrowing through a debt consolidation loan, you need to address the root cause of your debt too.

Benefits of our Debt Consolidation Loans Calculator

By using our debt consolidation loans calculator, you can:

  • Understand what your monthly repayments may be: This can help you decide what you can realistically afford to pay each month.
  • See how the interest rate affects your monthly repayments: You’ll know the total amount you’d need to pay over the term of the loan.
  • See how the term of the loan affects your monthly repayments: By moving the length of the loan up and down on the calculator, you can see how this impacts your monthly repayments. It will give you an idea of what you can afford in the short and long term.
  • See how much debt you can clear: With all the figures at hand, you’ll get a clearer understanding of how much of your existing debt you can pay off and the likely difference in monthly repayments.


What can I use a debt consolidation loan for?

Many people use debt consolidation loans to pay off existing debts like credit cards, personal loans, store cards or overdrafts, and consolidate them into one manageable loan.

When you owe money via credit cards, store cards or an overdraft, for example, your interest rate may be higher. It could make sense to pay these debts off using a debt consolidation loan with a lower interest rate.  This way you know exactly how long it will take you to pay off the debt.

Looking to borrow a specific amount?

Check your eligibility for a loan on amounts ranging from £1,000 to £25,000 through Asda Money partnership with Aro. You should only borrow what you can afford, and just enough to cover your debts.

At Asda Money, we work with Aro, who we have a carefully selected panel of trusted UK lenders. With just one quick eligibility check, you’ll be able to see all the available personal loans that match your requirements including the APR, you can then adjust the loan amounts and terms to see how your options change.

We have partnered with Aro to make sure we search a wide range of trusted lenders to find the right loan for you. You can then compare all the available personal loans to find the one that fits you and your personal circumstances.

Aro are a credit broker, not a lender.



Looking to fund something else?

You can use a personal loan for a range of other things including:

Car Purchase: Buying a new car outright

Car loans overview

Home Improvement: Helping you improve your home in small or big ways

Home improvement loans overview

Holiday: Finance for a short break or a trip of a lifetime

Holiday loans overview

Wedding: Helping you fund some or all of your big day

Wedding loans overview







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