Debt Consolidation Loan
Convert Multiple Loans into 1 EMI
Consolidation Overview
Transform multiple debts into 1 EMI
Before
4 Different Payments
₹75,300/mo
Interest Rates up to 36%
With LoansJagat
1 Single Consolidated EMI
₹38,700/mo
Save up to 50% Monthly
2000 Cr+
Loans Disbursed
10 Lacs+
Customer Served
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Loans Analysed
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A debt consolidation loan lets you combine your existing loans and credit card dues into one loan. The new lender settles your eligible outstanding dues, so instead of dealing with multiple lenders, interest rates, and different due dates, you have just one loan and one EMI to manage. You make a single payment to one lender each month, making your repayments simpler and easier to keep track of.
One Loan, Every Due Cleared
Your personal loans, credit card dues, and other eligible debts are consolidated into a single new loan.
EMI Cut by Up to 50%
Combining your dues under one loan, at a lower rate starting from 9.99%, reduces your total monthly payment, in many cases by up to half.
A Single EMI Date
You track one payment date each month instead of several, which makes monthly budgeting considerably easier.
A Cleaner Credit History
A single EMI paid on time is easier to sustain than several scattered payments, and a consistent repayment record supports a stronger credit score over time.
One Loan, Every Due Cleared
Your personal loans, credit card dues, and other eligible debts are consolidated into a single new loan.
EMI Cut by Up to 50%
Combining your dues under one loan, at a lower rate starting from 9.99%, reduces your total monthly payment, in many cases by up to half.
A Single EMI Date
You track one payment date each month instead of several, which makes monthly budgeting considerably easier.
A Cleaner Credit History
A single EMI paid on time is easier to sustain than several scattered payments, and a consistent repayment record supports a stronger credit score over time.
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How does Debt Consolidation work?
Debt consolidation follows a simple process, from application to disbursal.
Step 1: Add up your total debt
Total your outstanding debt across every loan and credit card you're currently repaying.
Step 2: Apply for a Debt Consolidation Loan
Apply for a new loan equal to that amount with LoansJagat.
Step 3: Your Existing Debts Get Cleared
Once approved, your new lender pays off each of your existing debts directly, on your behalf.
Step 4: Repay a Single EMI
From here on, you repay the new loan through one fixed EMI, on one date, with a lower interest rate until it's fully closed.
Why Consider a Debt Consolidation Loan?
If any of these scenarios reflect your current financial routine, consolidating your obligations into a single loan could immediately ease your stress.
You are managing several EMIs each month and find it difficult to track which is due and when.
Your credit card balance keeps growing despite regular payments, driven by interest of up to 36% p.a.
You have missed an EMI in the past, or come close to it, and it affected your credit score.
A significant share of your salary goes toward EMIs and credit card dues every month.
You are managing several EMIs each month and find it difficult to track which is due and when.
Your credit card balance keeps growing despite regular payments, driven by interest of up to 36% p.a.
You have missed an EMI in the past, or come close to it, and it affected your credit score.
A significant share of your salary goes toward EMIs and credit card dues every month.
Quick Comparison: Today Vs. After ConsolidationToday Vs. After
Here's the real difference a single EMI with LoansJagat makes to your monthly budget and your credit score:
Without Consolidation
- Multiple EMIs across different lenders
- Full combined monthly outflow
- Interest rates up to 36% p.a. on card dues
- Credit score affected by tracking multiple due dates
- No fixed payoff timeline
With Consolidation
- Just 1 EMI, with LoansJagat
- Outflow cut by up to 50%
- Rates starting at 9.99% p.a.
- Credit score supported by one on-time EMI
- Fixed payoff, 2 to 7 years
Debt Consolidation Loan Fees & Charges
Interest Rate
Rates start at 9.99% p.a., among the most competitive available for a debt consolidation loan in India.
Processing Fee
A processing fee of up to 2% of your loan amount applies, disclosed upfront before you accept the offer.
No Additional Charges
Beyond the interest rate and processing fee, no other charges apply to your consolidation loan.
Prepayment / Foreclosure Charges
If you want to close your loan early, prepayment and foreclosure charges apply as per your lender's terms and conditions. Check these details before you accept your offer.
Stamp Duty
A stamp duty of ₹500 applies to your loan agreement, as required by law for the document to be valid.
Debt Consolidation Loan Eligibility Criteria & Required Documents
Eligibility Criteria
EMPLOYMENT & AGE
Salaried Individuals (Aged 23 – 58 years)
CREDIT SCORE
CIBIL Score of 700 or Above
INCOME & EXPERIENCE
Min. ₹60,000/mo Salary & 1 Yr Exp.
Required Documents
IDENTITY PROOF (MANDATORY)
PAN Card & Aadhaar Card
ADDRESS PROOF
Passport / Utility Bill / Driving License
FINANCIAL PROOFS
Last 3 Months Salary Slips & Bank Statement
Eligibility Criteria & Required Documents
Debt Consolidation Loan Savings Calculator
Why Choose LoansJagat for Debt Consolidation Loan
One Application, 50+ Lenders
You submit a single application through LoansJagat instead of approaching each bank or NBFC individually. This is matched against offers from 50+ banks and NBFCs, so you can compare real, live quotes side by side before choosing one.
Consolidate Up to ₹50 Lakh
You can bring together outstanding debt worth up to ₹50 Lakh under a single loan, in one application, whether you are combining a couple of personal loans or a mix of loans, credit card bills, and consumer durable dues.
A Tenure That Fits You
Repayment tenures range from 2 to 7 years, so you can choose a shorter tenure to save on total interest, or a longer one to keep your monthly EMI lighter, depending on what suits your finances right now.
Rates from 9.99% p.a.
Interest rates on a consolidation loan start at 9.99% p.a., considerably lower than the up to 36% p.a. typically charged on unpaid credit card balances, which is where most of your savings come from.
Club Up to 10 Debts
You are not limited to consolidating one or two loans. Up to 10 personal loans, short-term loans, and credit card dues can be brought together under a single EMI, regardless of how many lenders you are currently repaying.
Eligibility Checked in Minutes
A quick online eligibility check tells you where you stand before you commit to a full application. It takes a couple of minutes, requires no paperwork upfront, and gives you clarity before you proceed.
One Application, 50+ Lenders
You submit a single application through LoansJagat instead of approaching each bank or NBFC individually. This is matched against offers from 50+ banks and NBFCs, so you can compare real, live quotes side by side before choosing one.
Consolidate Up to ₹50 Lakh
You can bring together outstanding debt worth up to ₹50 Lakh under a single loan, in one application, whether you are combining a couple of personal loans or a mix of loans, credit card bills, and consumer durable dues.
A Tenure That Fits You
Repayment tenures range from 2 to 7 years, so you can choose a shorter tenure to save on total interest, or a longer one to keep your monthly EMI lighter, depending on what suits your finances right now.
Rates from 9.99% p.a.
Interest rates on a consolidation loan start at 9.99% p.a., considerably lower than the up to 36% p.a. typically charged on unpaid credit card balances, which is where most of your savings come from.
Club Up to 10 Debts
You are not limited to consolidating one or two loans. Up to 10 personal loans, short-term loans, and credit card dues can be brought together under a single EMI, regardless of how many lenders you are currently repaying.
Eligibility Checked in Minutes
A quick online eligibility check tells you where you stand before you commit to a full application. It takes a couple of minutes, requires no paperwork upfront, and gives you clarity before you proceed.
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How to Choose the Right Debt Consolidation Loan
How to Choose the Right Debt Consolidation Loan
A lower EMI isn't always the better deal. Check these before you sign anything:
Total interest, not just EMI
Look at what you'll pay across the full tenure, not just the number sitting in front of you.
Processing fee
Ask upfront. LoansJagat caps it at 2%, but not every lender does.
Tenure that fits your goal
A shorter tenure costs less in total interest. A longer one keeps your EMI lighter.
Who closes your old loans
Confirm whether your new lender pays off your old debts directly, or hands you the money to close them yourself.
Lender credibility
Stick to an RBI-registered bank or NBFC that's upfront about every charge.
Prepayment and foreclosure charges
Check whether you can close the loan early without a penalty, in case your finances improve sooner than expected.
Total interest, not just EMI
Look at what you'll pay across the full tenure, not just the number sitting in front of you.
Processing fee
Ask upfront. LoansJagat caps it at 2%, but not every lender does.
Tenure that fits your goal
A shorter tenure costs less in total interest. A longer one keeps your EMI lighter.
Who closes your old loans
Confirm whether your new lender pays off your old debts directly, or hands you the money to close them yourself.
Lender credibility
Stick to an RBI-registered bank or NBFC that's upfront about every charge.
Prepayment and foreclosure charges
Check whether you can close the loan early without a penalty, in case your finances improve sooner than expected.
Debt Consolidation Loan Illustrative Example
Suppose you are repaying four separate debts, each with its own rate and due date.Suppose you are currently repaying four separate debts: a personal loan, a consumer durable loan, a short-term loan, and a credit card balance, each carrying its own interest rate and due date.
| Debt | Outstanding | Interest Rate | Monthly Cost |
|---|---|---|---|
| Personal Loan | ₹3,00,000 | 18% p.a. | ₹7,300 EMI |
| Consumer Durable Loan | ₹60,000 | 22% p.a. | ₹2,800 EMI |
| Short-Term Loan | ₹1,50,000 | 18% p.a. | ₹4,200 EMI |
| Credit Card Bills | ₹1,40,000 | 36% p.a. | ~₹7,000 minimum due |
| Total | ₹6,50,000 | — | ₹21,300/month |
Right now, you're paying ₹21,300 every month, split across four different due dates. Your loan EMIs stay fixed, but your credit card balance keeps growing, because the minimum payment at 36% p.a. barely reduces what you owe.
| Debt | Outstanding | Rate |
|---|---|---|
| Personal Loan | ₹3,00,000 | 16% p.a. |
| Consumer Durable Loan | ₹60,000 | 22% p.a. |
| Short-Term Loan | ₹1,50,000 | 18% p.a. |
| Credit Card Bills | ₹1,40,000 | 36% p.a. |
| Total | ₹6,50,000 | — |
What if you could bring this down to ₹12,875 a month, instead of ₹21,300?
If you apply for a debt consolidation loan, you can cut your existing outflow and repay just a single EMI, as shown below.
| Debt Category | Outstanding | New Rate | New Tenure | New EMI |
|---|---|---|---|---|
| Personal Loan + Consumer Durable Loan + Short-Term Loan | ₹5,10,000 | 12.5% p.a. | 6 years | ₹10,100 |
| Credit Card | ₹1,40,000 | 12.5% p.a. | 6 years | ₹2,775 |
| Total | ₹6,50,000 | — | — | ₹12,875/month |
Total Single EMI: ₹12,875/month
EMI Savings: 40%| Debt Category | Outstanding | New Rate |
|---|---|---|
| Personal + Consumer Durable + Short-Term Loan | ₹5,10,000 | 12.5% p.a. |
| Credit Card | ₹1,40,000 | 12.5% p.a. |
| Total | ₹6,50,000 | — |
Here's what changes once you consolidate:
One lender instead of four.- One EMI of ₹12,875/month, instead of ₹21,300/month across separate debts.
- No high finance charges added on.
- One due date to track, instead of four.
- A cleaner, more consistent repayment record, which supports your credit score over time.
- One lender instead of four.
- One EMI of ₹12,875/month, instead of ₹21,300/month across separate debts.
- No high finance charges added on.
- One due date to track, instead of four.
- A cleaner, more consistent repayment record, which supports your credit score over time.
The repayment period for a debt consolidation loan typically ranges between 2 and 7 years. The annual percentage rate (APR) can vary from 9.99% to 17%, depending on your income, credit score, and repayment history.
Your own numbers will depend on what you owe, your current rates, and the tenure you are offered. Use the calculator below to check your own figures.
The repayment period typically ranges between 2 and 7 years, and the APR from 9.99% to 17%, depending on your income, credit score, and repayment history. Your own numbers will depend on what you owe, your current rates, and the tenure you are offered.