Debt Consolidation Loans | Consolidate Your Debt with Plenti

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.

Your questions answered

How does a debt consolidation loan work?

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.

What should I consider before consolidating debts?

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.

Am I eligible for a Plenti debt consolidation loan?

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

This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of Plenti as at the date of publication and may later change without notice.

Personal loans‍

*Comparison rate is based on an unsecured personal loan of $30,000 repaid over 60 months. Rates shown assume a customer with an exceptional credit history. Rates are current as at 18 March 2026. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. This estimate is not an offer, quote or approval of finance. The actual repayment amount and interest rate will be confirmed if an application is submitted and approved. All applications are subject to credit assessment and eligibility criteria. Plenti's credit criteria, terms and conditions, fees and charges apply.

Credit provided by Plenti Finance Pty Limited ABN 82 636 759 861, Australian credit licence number 569622, or Perpetual Corporate Trust Limited ACN 000 341 533, Australian Credit Licence number 392673 (as custodian). Plenti RE Limited holds Australian Financial Services Licence number 449176, Australian Credit Licence number 449176. Both Plenti RE Limited and Plenti Finance Pty Ltd are members of the Australian Financial Complaints Authority (AFCA). Plenti’s Target Market Determination is available here.

Representative example: Based on an unsecured personal loan of $30,000 over 60 months a borrower with an exceptional credit history can expect to pay a total of $34,941.51. This represents a comparison rate of 6.17% p.a. and includes all interest and fees included in your loan repayments over the life of the loan. Plenti personal loans are available for a minimum of 6 months to a maximum of 7 years. Interest rates range from 6.17% p.a. (comparison rate 6.17% p.a.) to 24.09% p.a. (maximum comparison rate 25.08% p.a.).

Comparison module

‍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 18 March 2026. Plenti’s comparison rate is based on a $30,000 unsecured personal loan, repaid over a loan term of 5 years.

All other interest and comparison rates displayed are the headline rate as advertised by the respective lender and exclude short-term promotional offers. Rates are typically updated daily, and you should check the relevant lender's website for the most up to date information.

The actual product, rates, fees and charges you might be eligible for will be subject to the respective lender's eligibility criteria and may be different to the information shown on this page based on your loan term, loan amount and credit characteristics. You should check the lender’s website for the most up to date information

Other fees and charges not shown here may apply. Rates shown are subject to change without notice. Information on this page does not constitute an offer of credit, or financial advice. Plenti RE Limited ABN 57 166 646 635 holds an Australian Credit License number 449176 but does not provide credit assistance in relation to all products compared on this page.

Debt consolidation loan calculator‍

Before using this calculator or applying for a loan, compare all details of the consolidated loan with your existing debts, including features (e.g. early repayment and redraw), interest and fees. Our calculators assume you have provided accurate information so please check the documents relating to your existing debts. Estimated repayments and savings (‘Your Savings’) include Plenti's Credit Assistance Fee. The calculator is designed as a guide for unsecured Plenti Personal Loans only. This calculator is not a quote, pre-approval or an offer of credit. Calculated savings, interest rates and monthly repayments are estimates and are based on a range of criteria, assumptions and the information you have provided, including your credit rating, the details of your existing debt and the loan term. The calculator applies to new loans only and the savings, interest rate and monthly repayments may change if you complete a loan application. We will provide your final interest rate, fees and repayments if we approve your loan application. You can then decide whether to accept the loan. For fixed rate loans, repayments do not change over the term of the loan. Variable rates can change throughout the term of the loan which will cause your repayments to change.

^ Awards and customer reviews

All 5-star related claims are based on an aggregate count of 5-star consumer lender reviews across Google, TrustPilot and Product Review. Last count conducted on 15/4/25. Count excludes all major banks.

Our awards are listed at plenti.com.au/about/awards

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What is debt consolidation?

Debt consolidation loan calculator

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