A Debt Consolidation Loan may combine eligible outstanding personal loans, card balances or other borrowings into one new repayment plan. It can simplify due dates, but it saves money only when the new total cost is lower after all closure and processing charges.
✓One planned repayment instead of multiple due dates✓Simplified monthly payment tracking✓Potential reduction in effective borrowing cost✓Rates: As per lender policy
Last Updated: 27-07-2026
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Debt Consolidation Loan EMI Calculator
Loan Details
Results
Monthly EMIRs. 23537
Total PayableRs. 564882
Interest AmountRs. 64882
PrincipalInterest
Benefits
Debt Consolidation Loan Features & Benefits
01
One planned repayment instead of multiple due dates
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
02
Simplified monthly payment tracking
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
03
Potential reduction in effective borrowing cost
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
04
Opportunity to revise EMI and tenure
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
05
No collateral generally required
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
06
Complete old-vs-new cost comparison
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
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Support with debt statements and closure documents
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
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Clear guidance on lender charges
FINANZIA SERVICES keeps the process simple, transparent and customer friendly.
Eligibility
Debt Consolidation Loan Eligibility Criteria
The eligibility criteria are simple and depend on lender policies and applicant profile.
01✓
Applicant age and income must meet the selected lender criteria
02✓
Stable and verifiable repayment capacity
03✓
Eligible existing debts with valid account statements
04✓
Satisfactory recent repayment record
05✓
Total consolidation amount must meet lender limits
06✓
New EMI must remain affordable after essential expenses
What Documents are Required for Fast Approval Debt Consolidation Loan?
Documents
The basic documents required for online approval are:
KYC documents
PAN Card and lender-accepted identity and address proof
Income documents
Recent salary slips, Form 16, ITR or applicable business records
Bank statements
Recent statements for the period required by the lender
Debt statements
Latest statements for every loan or card proposed for consolidation
Closure quotations
Foreclosure or settlement amount from existing lenders
Repayment records
Recent account statements showing payment history
Debt Consolidation Loan Interest Rate and Applicable Charges
FINANZIA SERVICES assists you in comparing reasonable rates from a wide network of banks and NBFCs.
Particulars
Charges
1New Loan Processing Fee
Varies by lender and sanctioned amount
2Existing Debt Closure
Foreclosure or settlement charges as applicable
3Stamp Duty or Documentation
As applicable to the new loan
4Insurance or Add-on Cost
Optional or lender-specific; review before accepting
5Late Payment or Bounce Charges
As stated in the new sanction letter
What is a Debt Consolidation Loan?
A Debt Consolidation Loan is a new loan used to close eligible existing debts and replace several repayments with one schedule. The new lender evaluates the applicant and decides which balances can be included. Consolidation simplifies payment management, but it does not erase debt and may not reduce the total cost.
One EMI and Due Date
A single repayment schedule may be easier to track than several monthly due dates.
Cost Comparison
A lower effective rate may help only when processing and closure fees remain reasonable.
Revised Tenure
The new tenure may improve monthly affordability but a longer term can increase total interest.
Reduced Payment Clutter
Closing eligible old accounts can simplify statements, reminders and repayment tracking.
Planned Repayment
One clear schedule can support budgeting when the EMI fits regular income comfortably.
Closure Documentation
Written no-dues and closure confirmations help verify that old obligations are settled.
Consolidation Process
How to Consolidate Eligible Debts
Start with a complete debt list and compare the new total repayment carefully.
11
List Every Debt
Record outstanding balances, rates, EMIs, due dates and closure charges for each account.
22
Calculate Current Cost
Add the remaining repayment and closure costs of the debts proposed for consolidation.
33
Compare New Offer
Review the new rate, tenure, processing fee, total payable amount and approved debt coverage.
44
Close Old Accounts
Follow the lender payment route and collect closure confirmation for every settled account.
When Consolidation May or May Not Help
Consolidation may help when it meaningfully reduces the effective total cost or makes repayment easier without creating a much longer tenure. It may not help when fees are high, the new tenure greatly increases total interest or old accounts are used again after being cleared.
Compare Total Payable
Do not decide only from the new EMI; compare the full remaining cost under both plans.
Include Every Fee
Add processing, foreclosure, settlement, documentation, tax and mandatory add-on costs.
Avoid Reusing Cleared Limits
New borrowing on cleared accounts can recreate multiple debts alongside the consolidation EMI.
Choose a Practical Tenure
Balance monthly affordability against the extra interest created by a longer repayment period.
Confirm Direct Settlement
Understand whether funds go to existing lenders or to the borrower and keep payment evidence.
Collect No-Dues Letters
Obtain written confirmation that each old account is closed or settled as agreed.
Important: Debt consolidation replaces eligible debts with a new obligation; it is not debt forgiveness. FINANZIA SERVICES provides comparison and application assistance, while approval and settlement rules are decided by the banks or NBFCs.
Our Service Network
Service Areas Across India
FINANZIA SERVICES currently assists customers in the following active service areas. Product availability remains subject to lender coverage and eligibility.
New Delhi
Maharashtra
West Bengal
Tamil Nadu
Karnataka
Telangana
Odisha
Rajasthan
Bihar
Uttar Pradesh
Punjab
Madhya Pradesh
Frequently Asked Questions
What is a Debt Consolidation Loan?
It is a new loan used to close eligible existing debts and replace several repayment schedules with one new EMI and due date.
Does debt consolidation always save money?
No. Compare the remaining cost of existing debts against the new total repayment, including processing, closure, documentation and other charges.
Which debts may be consolidated?
Eligible personal loans, card balances or other unsecured obligations may be considered. The selected lender decides which accounts and outstanding amounts qualify.
Which documents are commonly required?
Common documents include KYC, income proof, bank statements, statements for each existing debt, repayment records and foreclosure or settlement quotations.
Can a lower EMI increase the total cost?
Yes. A longer tenure may reduce the monthly EMI while increasing total interest. Compare the total payable amount, not only the EMI.
What should I do after the old debts are paid?
Collect no-dues or closure letters, verify account statements, update auto-debit instructions and avoid new spending that recreates the cleared balances.
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