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How a Debt Consolidation Loan Can Help You Repay Your Dues

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How a Debt Consolidation Loan Can Help You Repay Your Dues

  • Highlights

  • It gives you access to up to Rs.25 lakh

  • Helps you raise finance in just 24 hours

  • Lets you monitor your loan online, securely

  • It has a simple eligibility & application process

In 2016, the National Sample Survey Office found that as per data from 2013, 31.4% of Indian rural households and 22.4% of urban households in India carry debt. What’s more, 40% of all rural loans bear compound interest, which can cripple one’s finances. These statistics are a clear indicator of how a major section of the Indian population is accumulating debt. A by-product of this is that multiple EMI payments create repayment burden. Not only do you have to remember all EMI deadlines, but you also have to take into account the rising interest payments. However, you can ease debt-related stress by consolidating all your debts with one loan, such as Bajaj Finserv's Personal Loan for Debt Consolidation which gives you money in your account in just 24 hours.

This debt consolidation loan helps you tackle various overdue payments with ease in the following ways.

Helps you repay large debt by borrowing accordingly

If you have several debts, it is likely that the total amount is quite high. In such situations, this loan allows you to breathe easy by offering an amount that matches the amount of debt. You can avail up to Rs.25 lakh with Bajaj Finserv’s debt consolidation loan.

Helps you clear debts conveniently using the Flexi Loan feature

This loan also offers you a Flexi Loan facility wherein you can borrow funds as per your needs and repay them conveniently. So, it is easy to access and equally easy to repay. The debt consolidation loan’s long tenor further enhances its ease of repayment.
Additional Read: What Are The Fees and Charges On Personal Loan For Debt Consolidation?

Helps you consolidate debt without wasting any time

The longer you allow your debt to accumulate, the higher your payments will be. So, when you apply for a debt consolidation loan, it is natural that you will want quick access to the amount. Most lenders facilitate this by way of fast disbursal in just 24 hours. Also, it has simple eligibility and an uncomplicated application process that makes availing funds even easier.

Personal Loan for Debt Consolidation

Helps you monitor your loan with ease

When repaying your debts with a debt consolidation loan, you may want to monitor the status of its repayment. For this purpose, most lenders offer you an online account management facility. You can use it to manage your loan online and view interest statements, principal statements, etc. without stepping out of your home to visit the branch.
Additional Read: Documents You Need To Apply For a Debt Consolidation Loan

These are some benefits of this personal loan variant when it comes to clearing debt. Before applying ensure you meet the Check eligibility for personal loan and also use the loan EMI calculator to calculate your EMIs, thereby checking its affordability.

DISCLAIMER: The personal loan features mentioned in this article are subject to change, based on policy revisions. For the updated product details, please visit the Bajaj Finserv Personal Loan page here.

 

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