Debt consolidation of personal loans is a financial strategy that combines multiple outstanding loans or debts—such as credit card balances, other personal loans, or consumer finance—into a single personal loan. The goal is to streamline your repayments, reduce the interest burden, and regain financial control.
You can pay off multiple loans with just 1 EMI/month. A personal loan debt consolidation allows you to remember just 1 date every month to repay your loan. Scroll down to read other benefits of consolidating your multiple debts:
| With Personal Loan Debt Consolidation | Without Personal Loan Debt Consolidation |
|---|---|
| Single EMI/Month | Multiple EMIs for Multiple Loans |
| Pay up to 50% less on EMIs | Save 0% on EMIs |
| Get Lowest Interest Rates (Starting from 10.55%) | Interest Rates as High as 17% |
| Payoff the loan in up to 7 years | Payoff the loan in 5 years |
| Healthy CIBIL Score | Unhealthy CIBIL Score |
A personal loan debt consolidation can make it easy for you to manage multiple loans at the same time, without affecting your CIBIL score. After you consolidate your personal loans, you won’t have to be stressed about multiple EMIs. So, what are you waiting for?
Personal Loan Debt Consolidation Interest Rates and Charges
You are probably thinking how a personal debt consolidation loan is better than multiple loans. To get an answer, have a look at the table. This table is prepared with exclusive insights from experts in the loan disbursal industry.
| Feature | With Debt Consolidation | Without Debt Consolidation |
|---|---|---|
| Interest Rates | As low as 10.50% | As high as 17% |
| Savings on Interest Rates | Reduce EMIs by 50% | Different EMI for each loan |
Why Opt for Personal Loan Debt Consolidation from FUNDS 24?
FUNDS 24 has disbursed loans to 2000 crore+ customers through India. So, what makes us unique?
| Feature | With FUNDS 24 | Other Organisation |
|---|---|---|
| Low Rate of Interest | ✅ | ✅ |
| 50% Savings on EMIs/Month | ✅ | ❌ |
| Flexible Loan Repayment Tenure | ✅ | ✅ |
| Loan Approved in 24 hours | ✅ | ❌ |
| Zero Documentation | ✅ | ❌ |
| 100% Online Process | ✅ | ❌ |
| Compare Rates from 20+ Banks and NBFCs | ✅ | ❌ |
| Loans Up To 50 Lakhs | ✅ | ✅ |
| Personal Loan Expert | ✅ | ❌ |
FUNDS 24 is a platform to offer personal loan debt consolidation quickly and efficiently without having a difficult application process. Our aim is to offer a hassle-free process so that no one has to wait for their dream to become a possibility. Apply for a loan right away!
• Scroll Up. Fill in the basic details about your name, number, and work profile.
• Fill in your personal details. For example, your email, company name, and DOB.
• Mention your credit score, PAN number, and salary-related information.
• Compare the offers from 20+ banks and NBFCs before applying for loans.
• Organise all the documents, like the Aadhaar Card, PAN Card, residential proof, KYC details, and past 3 months' bank account statement. Submit these documents when needed.
• After successful document verification, your loan will be approved and money will be credited to your bank account.