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Get a personal loan for debt consolidation on Bajaj Markets. Compare interest rates from multiple partner lenders to choose the option that best suits your needs.
A debt consolidation loan allows you to combine multiple debts into a single one, making repayment simpler and more manageable. Instead of keeping track of different EMIs, due dates, and interest rates, you only need to repay one loan with a fixed schedule.
This type of loan can help reduce your overall borrowing cost and is particularly useful if you are managing several loans, credit card bills, or other high-interest debts. With reduced interest burden, it not only eases financial stress but also gives you greater control over your money.
Additionally, it can improve your credit score over time if you make timely repayments, since it reflects positively on your credit history.
Get personal loans of up to ₹55 Lakhs, based on your eligibility and other factors. This allows you to manage even large debts conveniently under one repayment plan.
On Bajaj Markets, your application for a personal loan for debt consolidation is reviewed and verified within minutes.
The fully digital process ensures instant approval decisions, helping you access funds quickly without unnecessary delays.
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Personal loans for debt consolidation are unsecured, meaning you do not need to pledge any assets such as property, gold, or fixed deposits.
Debt consolidation may help you secure a lower interest rate and provides the convenience of servicing only one loan. This not only reduces stress but also saves valuable time.
On Bajaj Markets, you can choose an online debt consolidation loan from various lenders.
| Available Offerings | Max. Loan Amount | Starting Interest Rate | Max. Tenure | Processing Fee |
|---|---|---|---|---|
Privo (Credit Saison) Personal Loan |
₹5 Lakhs |
9.99% p.a. |
60 months |
1% to 3% of the loan amount + GST |
Bajaj Finance Personal Loan |
₹55 Lakhs |
10.00% p.a. |
96 months |
Up to 3.93% of the loan amount (Inclusive of taxes) |
Kotak Mahindra Bank Personal Loan |
₹40 Lakhs |
10.99% p.a. |
72 months |
1.10% - 1.50% of the loan amount + GST |
KreditBee Personal Loan |
₹10 Lakhs |
12.00% p.a. |
60 months |
Up to 5.1% + GST |
L&T Finance Personal Loan |
₹15 Lakhs |
12.00% p.a. |
48 months |
Up to 3% of the loan amount + GST |
Freo (formerly MoneyTap) Personal Loan |
₹5 Lakhs |
12.00% p.a. |
36 months |
1% onwards |
SMFG India Credit Personal Loan |
₹25 Lakhs |
12.00% p.a. |
60 months |
0% to 6% of the loan amount |
YES BANK Personal Loan |
₹50 Lakhs |
12.50% p.a. |
72 months |
1.15% to 2.75% of the loan amount |
Federal Bank Personal Loan |
₹5 Lakhs |
12.75% p.a. |
48 months |
2% to 3% of the loan amount + 18% GST |
Aditya Birla Capital Personal Loan |
₹7 Lakhs |
13.50% p.a. |
60 months |
Up to 4% of the loan amount + GST |
Fibe Personal Loan |
₹5 Lakhs |
14.00% p.a. |
36 months |
Up to 2% of the loan amount |
Kissht Personal Loan |
₹4 Lakhs |
14.00% p.a. |
24 months |
3% to 5% of the loan amount |
PaySense Personal Loan |
₹5 Lakhs |
14.00% p.a. |
60 months |
2% to 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher) |
Muthoot Finance Personal Loan |
₹10 Lakhs |
14.50% p.a. |
60 months |
2% to 4% of the loan amount |
Finnable Personal Loan |
₹10 Lakhs |
15.95% p.a. |
60 months |
Up to 3% of the loan amount |
InCred Personal Loan |
₹10 Lakhs |
16.00% p.a. |
60 months |
2% to 5% of the sanctioned amount |
Piramal Finance Personal Loan |
₹6 Lakhs |
17.25% p.a. |
60 months |
1.50% to 4.50% of the loan amount |
Olyv Personal Loan |
₹1 Lakh |
18.00% p.a. |
12 months |
2% to 12% of the loan amount |
IIFL Finance Personal Loan |
₹5 Lakhs |
18.00% p.a. |
42 months |
2% to 6% of the loan amount + GST |
Upwards Personal Loan |
₹5 Lakhs |
18.00% p.a. |
36 months |
Up to 4% of the loan amount |
Zype Personal Loan |
₹5 Lakhs |
18.00% p.a. |
12 months |
2% to 6% of the loan amount |
mPokket Personal Loan |
₹45,000 |
24.00% p.a. |
90 Days |
₹50 to ₹200 + 18% GST (maximum APR of 48%) |
Moneyview Personal Loan |
₹10 Lakhs |
1.33% p.m. |
60 months |
Starts from 2% of the approved loan amount |
CASHe (Bhanix Finance) Personal Loan |
₹3 Lakhs |
2.79% p.m. |
18 months |
Up to 5.5% of the loan amount + GST |
Disclaimer: The above-mentioned information is subject to change as per changes in lenders’ policies.
The eligibility criteria are set by the lender to ensure smoother approval and processing. These include:
You need to be an Indian citizen
You can either be a salaried or self-employed individual
Your age must at least be 18 years
You need to have a minimum monthly income of ₹9,000
You need to have at least 6 months of work experience
Your CIBIL score needs to be at least 685 or above
To apply for a debt consolidation loan, you need to provide valid identity, address, and income proof. The following table outlines commonly accepted documents:
| Identity Proof (Any one) | Address Proof (Any one) | Income Proof |
|---|---|---|
PAN Card |
Voter ID |
Bank statement |
Aadhaar Card |
Aadhaar Card |
Salary slips for the last 3 months |
Voter ID |
Passport |
- |
Passport |
Driving Licence |
- |
Driving Licence |
Electricity Bill |
- |
- |
Telephone Bill |
- |
To apply for a personal loan, you simply need to fill in the loan application by following the steps below:
Click on ‘Check Eligibility’ option on this page
From the dropdown list, choose your profession
Enter your mobile number and pin code
Carefully go through the terms and conditions to get started
Click on the ‘Proceed’ button to start your application
You need to start filling in your details on the application form, such as date of birth, PAN number, gender, email, employer details, salary, name, and payment method
Submit the form and check out the loan offers provided by different partner lenders
Select your loan provider, specify the tenure, loan amount, and complete the application process
A debt consolidation loan is a personal loan that combines multiple debts into a single loan, allowing you to make just one monthly payment (EMI) for easier repayment and better management. This approach can help reduce your overall interest costs and simplifies financial management by streamlining your debt obligations.
You can consolidate credit card dues, personal loans, medical bills, and consumer durable loans. Some banks also allow eligible secured loans, like vehicle loans. This helps you manage all obligations in one place.
It merges multiple loans or dues into a single loan. This reduces interest costs and eases repayment. It also supports better credit health and lowers financial stress.
Yes, many banks offer instant debt consolidation loans. They let you combine multiple loans or credit card balances into one. This provides easier management with a single EMI.
No, you do not need collateral to apply for a personal loan for debt consolidation. It is unsecured and depends on your creditworthiness. Lenders also assess income and repayment capacity before approval.
On Bajaj Markets, you can borrow up to ₹55 Lakhs and choose from several lenders. No collateral is needed for the loan. The final amount depends on your income, credit score, and repayment ability.
Interest rates for personal loans aimed at debt consolidation through Bajaj Markets begin at 9.99% p.a. This competitive rate makes it an attractive choice if you are seeking to streamline your dues into one manageable EMI.
Yes, it can improve your CIBIL score if you pay on time. Lower credit utilisation also benefits your score. But missing EMIs can hurt it, like any other loan.
Use an online personal loan EMI calculator to plan your repayments. Enter the loan amount, rate of interest, and tenure. The tool will instantly show your monthly instalment amount.
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