Debt Consolidation Loan Starting From 9.99 % P.A.
Purvi , a strong-minded girl in financial need of some, applies for a Debt Consolidation Loan of ₹3 lakhs. She is very optimistic and, by and by, her loan is approved at a moderate interest of 11.99%.
Then, the lender offers her a flexible repayment term between 2 and 7 years. After considering it, Purvi chooses to opt for the 5-year tenure. After communicating the final deal to her, one important figure strikes her—her monthly EMI of ₹6,672.
Purvi will make a payment of ₹4,00,309 in total in these 5 years, which includes ₹3,00,000 as the amount borrowed in principal and ₹1,00,309 as the interest she will be paying for the loan. Easy and straightforward, right? If planned well, this is how a typical journey of a Debt Consolidation Loan looks.
A. Credit Score: Banks offers the best interest rates to the borrower with good to excellent credit scores. Checking your credit score can give you a brief idea of the Interest rates which you ' re eligible for.
B. Loan Tenure: Longer loan tenure may result in lower monthly installement but could cost more in interestwith respect to time.shorter Loan Tenure may have higher monthly EMI but lower overall interest Amount
C. Processing Fees and Charges: Other Than interest rates,There are other charges which you need to take a look like any Processing fees, prepayment charges, or other Part Payment charges associated with the Personal loan.
Consider a Debt Consolidation Loan your standby for any financial requirement. Small or large. No need to collaterilize your gold or property. No intrusive questioning of what you'll use the money for. Apply, get approved, and spend it however you see fit.
From medical emergencies and traveling to weddings and schooling or even merging all your running debts into one, personal loans give you the flexibility to breathe easy again.
If you've got a load of EMIs and credit card payments siphoning off your monthly income, stay calm. Loan and debt consolidation will allow you to bundle them all together in one loan in the form of one EMI. Isn't that simpler yet?
With a debt consolidation loan, this is what you get:
B. Flexible Usablility: Unlike other secured loans like auto or home loans, personal loans can be used for multiple purposes,helps ustomer to conclude their financial needs.
B. Flexible Usablility: Unlike other secured loans like auto or home loans, personal loans can be used for multiple purposes,helps ustomer to conclude their financial needs.
C. Monthly EMI option: Fixed-rate personal loans offer Fix monthly payments, making plan easier and providing peace of mind with stress free personal Loan.
D.No Collateral Required: As personal loans are unsecured Loans, means borrowers don 't need any collateral such as a home or gold to secure the loan, which reduce the risk.
A. Look Around : Compare offers from multiple Banks/nbfc to find the best Terms and Interest rates suited to your financial Need.
B. Credit Score : Try To improve your credit score, such as paying EMI on time, Timely Credit Card Bill Payments or reducing outstanding or Overdue Amount , can help qualify you for lower interest rates.
C. Co Applicant : If your credit score is on a Lower Side , having a co-Applicant on your Personal loan application can increase your chances of Loan approval and Hence secure a lower interest rate.
Still incurring high interest on that old personal loan? We can assist you in shifting gears.
A personal loan balance transfer allows you to transfer your current loan to a different lender (such as us!) that has improved terms. And that means:
We keep it flexible to allow more people to enjoy it. If you meet these simple criteria, you can join:
At Money Bharti, if you apply, you gain: