Debt Consolidation Loans
Debt consolidation made easy
Stop managing multiple debts and consolidate into simple monthly payments.
Take charge of your financial journey and join thousands of Australians who have trusted Plenti to consolidate debt, totaling over $340M.
We're a multi-award winning personal lender
What is debt consolidation?
Debt consolidation is the process of combining multiple debts - such as credit cards, personal loans, and store cards - into a single loan with one repayment date and amount. This can simplify your financial management by eliminating the hassle of juggling multiple different payments.
By opting for a debt consolidation loan, you also may be able to pay less interest overall, allowing you to save money and have a fixed date for your debt to be paid in full.
Debt consolidation loan calculator
If you have multiple debts, payments outstanding on different dates and need to get control of your finances, a debt consolidation loan from Plenti may be a good option for you. Add in your debts below and your current repayment amount to calculate what your estimated monthly debt consolidation loan repayments and savings could be.
Prior to using this calculator, please see "Debt Consolidation Loan Calculator" in the Important Information section below to understand how this calculator works.
Borrow up to $50,000 to consolidate your debts.
We offer an interest rate personalised to you when you apply to consolidate debts, with no monthly fees and no early repayment charges.
Borrow up to $50,000
1-7 year loan terms
Fast funds in as little as 24hrs from approval
$0 early repayment fee
$0 monthly fee
Personalised interest rate
Regain control of your finances
Accelerate your debt-free journey with the benefits of a debt consolidation loan.
Simplified Debt Management
Combining multiple debts into one debt consolidation loan streamlines your finances, reducing the hassle of multiple monthly payments. This makes debt payments more manageable and gives you a payoff date to work towards each month.
Interest Savings
Debt consolidation loans will often incur lower interest rates compared to your existing debts, helping you to save in the long term. You can also swap your variable rate for a personalised fixed interest rate for added ease.
See how our rates stack up
Compare our personal loan interest rates against the big 4 banks (including CommBank, Westpac, ANZ, & NAB)
Products shown do not represent all rates available from all lenders, or all rates available from the lenders presented. Plenti's interest rate is based on a borrower with an exceptional credit history using rates and fees applicable as at 17 December 2025. Plenti’s comparison rate is based on a $30,000 unsecured personal loan, repaid over a loan term of 5 years. More information on this comparison tool
A faster, fairer borrowing experience
Debt consolidation is made easy with our simple 3 step process. Get a rate estimate.
Get your rate
1 minute, 10 simple questions. It's all we need to estimate the rate on your personal loan.
Apply in minutes
Complete your quick and easy application, all online.
Enjoy your funds
Once approved and accepted we’ll transfer your funds which could take as little as 24hrs.
A 5-star experience from start to end
Turn your somedays into today with an award-winning* fintech lender.
Your questions answered
Debt consolidation involves combining multiple debts, such as credit cards and personal loans, into a single personal loan. For instance, consolidating debts of $2,500 and $7,500 on two credit cards into a $10,000 personal loan can simplify your financial management as this results in one set of recurring repayments with a single interest rate and term.
Before opting for a debt consolidation loan, consider the following factors:
- Monthly payment: Find out how much your new monthly payment would be.
- Interest Rates: Check if the new loan has a lower interest rate than your current debts. Use our ‘Get your rate’ function to estimate your potential rate.
- Total Consolidation Amount: Identify all debts for consolidation, including existing balances, potential additional fees, and whether to close previous credit facilities.
- Assess Borrowing Power vs. Total Debt: The consolidation loan can cover all existing debts if your borrowing power exceeds total debt. If borrowing power is less than total debt, prioritise which debts to consolidate by focusing on consolidating debts that offer the most significant savings and continuing to repay others separately.
To qualify for a Plenti debts consolidation loan, you must meet the following criteria:
- Age: 18 years or older
- Citizenship: Australian citizen or permanent resident
- Income: earn over $25,000 annually from a verifiable, regular income source
- Credit History: maintain a good credit history
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