Debt Consolidation Loan

Unsecured credit up to Rs. 40 lakh

Manage your existing debt with a high-value collateral-free loan.
Competitive interest rates

Repay your debt at an attractive personal loan interest rate.
Long repayment window

Divide your debt payments over up to 96 months per your budget.
Swift approval and disbursal

Get quick approval in 5 minutes* and the funds within 24 hours* of verification.
45%* lower EMIs

Pay interest-only EMIs for the initial part of the tenor with the Flexi loan facility.
No hidden charges

Enjoy 100% transparency with the personal loan processing fees and charges.
Simple documentation

Obtain a personal loan for debt consolidation with a few basic KYC and income documents.
Digital loan account

Pay your EMIs, view your repayment schedule, and download statements via Customer portal- Bajaj Finserv My Account.
Pre-approved loan offers

Avail of pre-approved offers on your personal loan for quicker access to credit.

Consolidate all your existing loans into one and handle a single EMI each month with a personal loan for debt consolidation from Bajaj Finserv. Get financing of up to Rs. 40 lakh without collateral and repay your new debt at an attractive rate of interest. Pick a repayment term of up to 96 months to bring your monthly debt outgo within budget.

Our eligibility criteria are simple, and you can get instant approval within 5 minutes* of application. Submit basic KYC and income documents with your application and, post-verification, get money in the bank within 24 hours*. With swift financing, you can consolidate high-interest loans and credit cards and repay your debt more affordably without delay. Our existing customers can avail of pre-approved offers for a convenient 1-step application.

Use the Personal Loan EMI Calculator to plan your new instalments. View your repayment schedule, pay EMIs, part-prepay the loan, and download statements via My Account, our customer portal.

If you require up to 45% lower EMIs, consider the Flexi loan facility and pay interest-only EMIs for the initial part of the repayment term. Borrow funds from your approved limit and prepay your loan for free with the Flexi personal loan.

Frequently asked questions

A debt consolidation loan is a financial tool that combines multiple high-interest debts, such as credit card balances or personal loans, into a single, lower-interest loan. By merging debts, borrowers simplify payments and often reduce overall interest costs, making it easier to manage finances and work towards becoming debt-free.

Any borrower who meets the eligibility criteria set by the lender is eligible for a loan. eligibility for a debt consolidation loan typically depends on factors such as credit score, income stability, existing debts, and repayment capability.

Debt consolidation loan online is a financial strategy where multiple debts, such as credit card balances or loans, are combined into a single loan with a lower interest rate or more favourable terms. This simplifies payments, making them more manageable, and can potentially save money by reducing the overall interest paid on the debts.

Debt consolidation itself does not directly impact your CIBIL Score. However, how you manage the consolidated loan afterwards does affect your credit score. Timely payments and responsible credit use can improve your score, while missing payments or accumulating more debt can negatively impact it, regardless of the consolidation.

The cost of debt consolidation varies based on the method chosen. If you opt for a loan consolidation, fees and interest rates apply, depending on your creditworthiness and the lender’s terms.

Yes, personal loans can be used for debt consolidation, combining multiple debts into a single monthly payment with potentially lower interest rates.

Yes, you can obtain a debt consolidation loan to clear multiple debts by combining them into a single loan with potentially lower interest rates and more manageable monthly payments.

Individuals with various debts, such as credit card balances or medical bills, may be eligible for debt consolidation.

To consolidate debts into one payment, apply for an instant loan, use the funds to pay off existing debts, and then repay the loan over time.