Debt consolidation · EMI reduction
One loan, one EMI — replace high-cost debt with a lower rate
Credit cards at 36%, personal loans at 18%, four EMIs on four dates. Consolidation collapses them into a single, cheaper obligation. We structure the route, negotiate with 48+ lenders and handle the foreclosure paperwork with your existing lenders.
Quick answer
If more than 45% of your monthly income goes to EMIs and card dues, consolidation is usually the fastest way to breathe. Secured routes (property or overdraft) give the biggest reduction; unsecured consolidation is faster but caps at roughly ₹40 lakh.
Which consolidation route fits you
| Route | Rate p.a. | Tenure | Ticket size | Best when |
|---|---|---|---|---|
| Loan against property | 9% – 14% | Up to 15 years | ₹25L – ₹10 Cr | Largest EMI reduction; needs clear property title |
| Personal loan consolidation | 11% – 18% | Up to 6 years | ₹1L – ₹40L | Fast, unsecured, needs 700+ CIBIL |
| Business term loan | 12% – 20% | Up to 5 years | ₹5L – ₹1 Cr | For firms clearing multiple NBFC EMIs |
| Overdraft against property | 9.5% – 14% | Renewable yearly | ₹25L – ₹5 Cr | Interest only on usage; best for lumpy cash flow |
| Gold loan takeover | 9% – 16% | Up to 3 years | ₹50K – ₹50L | Quick relief on high-cost gold or card debt |
Indicative market ranges across our empanelled lenders; the sanctioning bank or NBFC sets final terms.
How we run a consolidation file
- Debt map. We list every outstanding, its rate, tenure left and foreclosure charge.
- Route selection. Secured, unsecured or a hybrid, based on how much reduction you need and what security is available.
- Lender shortlist. Three to five sanctions compared on all-in cost, not headline rate.
- Foreclosure coordination. We obtain statements and foreclosure letters, and time the disbursal to close old accounts cleanly.
- Post-closure hygiene. NOCs collected, bureau records verified for closure within 30–45 days.
Frequently asked questions
What is a debt consolidation loan?
It is a single, lower-cost loan used to close several expensive borrowings — credit card outstandings, personal loans, NBFC EMIs — so you pay one EMI instead of many. The saving comes from replacing 24–42% card interest with a 9–18% loan.
How much EMI can I actually save?
Borrowers moving ₹15 lakh of card and personal-loan debt at an average 28% to a property-backed loan at 10.5% over a longer tenure typically cut their monthly outgo by 45–60%. The exact number depends on the route, tenure and your credit profile.
Will consolidation lower my credit score?
There is a short-term dip from the new enquiry, but closing revolving card balances usually improves your utilisation ratio and lifts the score within 3–6 months, provided you do not re-spend on the cleared cards.
Can I consolidate if my CIBIL is below 700?
Yes, through secured routes. Property-backed loans and overdrafts are assessed on collateral value and repayment ability, so scores in the 650–700 range are workable, sometimes with a co-applicant.
Do lenders pay off my old loans directly?
In most consolidation sanctions the lender disburses directly to the existing lenders or issues demand drafts against foreclosure letters, then credits the balance to you.
What documents are needed?
KYC, 6–12 months bank statements, income proof (salary slips or 2 years ITR), all existing loan statements and foreclosure letters, plus property papers for secured routes.