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What Is Debt Consolidation?

Debt consolidation combines multiple loans or credit card balances into a single loan with one EMI — usually at a lower interest rate — to simplify repayment.

Debt consolidation is the process of combining multiple loans, credit card balances, or outstanding debts into a single loan with one EMI and often a lower interest rate.

This simplifies repayment and reduces financial stress — you track one due date, one lender, one amount, instead of juggling five.