Free tool
Debt Consolidation Calculator
If you are juggling several loans and credit card balances, consolidating them into one loan can lower your total monthly outflow. Enter each existing debt with its rate and payment, then a proposed consolidation loan, and see whether the switch actually saves you money.
Debt consolidation
Combine your loans into one and see what you'd save.
Total balance
LKR 1,150,000
Blended rate
20.35%
New EMI
LKR 30,852
Monthly saving
LKR 16,882
Estimates only. Real refinance offers depend on credit profile, fees, and prepayment penalties.
Frequently asked questions
When does debt consolidation make sense?
Usually when the consolidation loan's interest rate is meaningfully lower than the weighted average of your current debts — most often when replacing high-rate credit card balances with a personal loan.
Does consolidation hurt my credit score?
Applying creates a new facility on your CRIB record, but successfully servicing one loan on time is generally better for your record than juggling several near-limit cards.
What should I watch out for?
Early settlement fees on existing loans, processing fees on the new loan, and stretching the term so far that total interest rises even though the monthly payment falls.
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