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Consolidation loan calculator — instalment after consolidationTable of contents
Refinancing means paying off a current loan with a new one, usually under different terms. The goal is lower cost or a longer repayment term.
Consolidation combines many debts into one. Refinancing usually covers a single loan. If you have multiple instalments, consolidation may fit better.
Common traps:
This is risky because short‑term loans are expensive. If refinancing only moves the due date, total cost grows.
Compare total cost, APR and all one‑off fees. Check whether early repayment is allowed.
Avoid refinancing that only “buys time”. If the new instalment still exceeds your budget, the problem returns quickly.
A PLN 10,000 loan with a PLN 400 instalment. A new offer gives PLN 330 instalment but commissions and longer term increase total cost by PLN 1,200. In such a case, refinancing may be unprofitable.
See also: Debt consolidation and Loan consolidation.
If refinancing only extends repayment without lowering total cost, the problem returns. Rolling short‑term loans is especially risky because it adds extra fees.
Sometimes a cash loan in a bank is cheaper if you have creditworthiness. Compare total cost in both options.
Prepare the current contract, schedule and income proofs. A simpler situation usually means a faster decision.
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