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Personal Loan for Debt Consolidation

It is possible to consolidate your current outstanding loans into one and manage the installments with ease. You can get a personal loan for the purpose of debt consolidation and put an end to worries of remembering to pay different Equated Monthly Installments (EMIs), as well as, different payment dates.

What is a Debt Consolidation Loan?

With debt consolidation, you can combine more than one debt into a new Bajaj Finserv Personal Loan with a favourable interest rate and repayment tenure. The amount received from your new online personal loan is used to pay off the outstanding debts. A debt consolidation loan is a big loan that you take to pay small debts. Through this loan, you can manage to save on the expenses related to the interest and the cost of finance.

Benefits of Debt Consolidation

Convenience

Debt consolidation is helpful because it makes life convenient. There are times when it can get difficult to keep a track of paying different loan EMIs, payments, amounts, and payment dates. The debt cREAD MOREonsolidation process can secure a lower interest rate to the entire load of debt and provide the convenience of servicing only one loan or debt. This will not only reduce stress, it will also save a lot of time. READ LESS

Low-interest rate

The interest rates are an important factor when it comes to borrowing finance. With the consolidation of debt, you enjoy low-interest rates and lower EMIs as compared to servicing different loans, whicREAD MOREh would result in a higher EMI. READ LESS

Flexible repayment tenure

You can enjoy a tenure ranging from one to five years. This means you get sufficient time to make the repayment of all your loans. You can ensure timely repayment through EMIs by preparing a repayment READ MOREschedule. READ LESS

How to Apply

To apply for a personal loan, you simply need to fill in the loan application by following below steps:

  • Step 1: You need to start filling your personal, financial, and employment details on the application form.

  • Step 2: Select the loan amount and tenor to access instant online approval.

  • Step 3: Submit all the documents required for a personal loan.

  • Step 4: The loan amount will get disbursed in your bank account within 24 hours.

 

Debt consolidation is a smart move for those who are dealing with multiple loans and EMIs. It will relieve stress and make it easier for you to handle payments. When you apply for an instant personal loan for the debt, you only need to handle one loan, pay one EMI, and remember one date. Before applying for a loan you need to check whether you are eligible for a personal loan. You can take the help of a Personal Loan Eligibility Calculator to check and calculate your personal loan eligibility criteria.

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