Consolidate Debt With an Affordable Loan
Consolidate your existing debt with a debt consolidation Loan from Poonawalla Fincorp up to ₹50 Lakh. This Personal Loan helps you combine multiple debts into a single loan, making repayments easier through one EMI.
Get a loan of up to ₹50 Lakh, reduce your interest burden, and move closer to financial freedom. Enjoy a competitive interest rate starting from 9.99% p.a.* on a debt consolidation Loan. The application process is hassle-free, requires minimal documentation, and offers flexible repayment terms. Take a Personal Loan to clear all your existing debts in one go. Apply now!
Debt Consolidation Loan EMI Calculator
Calculate your monthly instalments with our online Personal Loan EMI calculator. Enter the loan amount, interest rate, and repayment tenure. The EMI calculator instantly shows what your monthly payment will be for the debt consolidation loan.
Why Choose Poonawalla Fincorp
Click to know more about Personal Loan Features and Benefits.
Apply for a Personal Loan Online in Just 3 Steps
Click on “Apply Now”
Tap the “Apply Now”button to initiate your application.
Enter Details
Enter your DOB, PAN card number, monthly income, KYC details and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Meet the following basic eligibility criteria to qualify for a Personal Loan for debt consolidation.
| Criteria | Details |
| Age | Between 21 and 60 years |
| Citizenship | Indian citizen |
| Monthly Salary | At least ₹30,000 per month |
| Employment | Full-time with a private or public limited company |
| Work Experience | Minimum 1 year total, with 1 month in the current company |
| Credit Score | CIBIL score of 700 or above recommended |
Click to check the complete Personal Loan eligibility criteria.
Submit the following documents for your Personal Loan for debt consolidation:
| KYC Documents | PAN Card, Voter ID, Passport, Driving License, or Aadhaar Card |
| Address Proof | Utility Bills, Rent Agreement or Passport |
| Income Proof | Salary slips for the past 1 month |
| Financial Proof | Bank account statements for the past 3 months |
| Employment Proof | Official mail ID or employee ID card (in case office email ID is not confirmed). |
| Existing Loan Statements | Outstanding balance details of all current debts being consolidated. |
Click to check the complete Personal Loan documents checklist.
Poonawalla Fincorp offers debt consolidation loans at competitive rates. Here are the Personal Loan interest rates and charges:
| Parameter | Details |
| Interest Rate | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fee | Up to 3% plus applicable taxes |
| Lowest EMI Per Month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12-84 months |
| Prepayment/Foreclosure Charges | 1. Before repayment of the first six EMIs: i) If Foreclosure or Prepayment is done, including balance transfer from another financial institution, 4 % on the amount being prepaid plus applicable taxes. 2. After repayment of the first six EMIs: i) If Foreclosure or Prepayment is done from the own funds of the Borrower - Nil charges. ii) If Foreclosure or Prepayment is done by any other source, including by balance transfer from another bank/financial institution, 4% on the amount being prepaid plus applicable Taxes. |
| Default Charges | 24% p.a. + taxes |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Check the basic eligibility criteria to see who can apply for a Personal Loan for Debt Consolidation.
- Salaried individuals with a stable monthly income and full-time employment.
- Salaried doctors with consistent income from hospitals or clinics.
- Salaried Chartered Accountants working with recognised firms.
- Salaried Company Secretaries employed with registered companies.
You may increase your chances of being approved and streamline the loan application process by following these easy steps:
- Prepare the necessary documents before beginning the application process.
- A CIBIL score of 700 or more can increase your chances of approval, so check your credit score.
- Before applying, check your eligibility against the lender's requirements.
- To prevent delays, fill out the application form completely and accurately.
- Avoid applying for several loans at once, as this could lower your credit score.
Here is a representative example illustrating how a debt consolidation loan works:
| Parameter | Details |
| Loan Amount | ₹5,00,000 |
| Annual Interest Rate | 9.99%* p.a. |
| Loan Tenure | 60 months (5 years) |
| Monthly EMI | Approx. ₹10,620 per month |
| Total Interest Payable | Approx. ₹1,37,200 |
| Total Amount Repayable | Approx. ₹6,37,200 |
| Processing Fee (up to 3%) | Up to ₹15,000 + applicable taxes |
This example shows how a Debt Consolidation Loan may work for a borrower. For a loan amount of ₹5,00,000 at an interest rate of 9.99% p.a.* with a tenure of 60 months, the approximate EMI would be ₹10,620 per month.
Over the full tenure, the total interest payable would be around ₹1,37,200, making the total repayment amount approximately ₹6,37,200, excluding applicable processing fees and taxes. However, actual EMI and interest may vary based on your credit profile and loan terms.
Happy Customers, Happy Us
Throughout my loan journey, the Poonawalla Fincorp team showcased exceptional dedication, in-depth product knowledge, and a truly customer-centric approach. At every stage, they guided me with patience and clarity, making the entire process seamless, transparent, and timely. Their proactive communication and unwavering willingness to go the extra mile are a testament to the organization’s high standards of service excellence. Such professionalism not only fosters strong customer trust but also reinforces Poonawalla Fincorp’s reputation as a leading, customer-focused financial institution. I extend my heartfelt thanks to the entire team for their commendable efforts and wish them continued success in all their endeavors.
I am incredibly grateful for the outstanding support I received throughout my loan process. The guidance provided made every step feel manageable and stress-free. What stood out most was the humility and genuine willingness to help at every stage, qualities that made a significant difference in my experience. Without this support, the journey would have been far more challenging. I truly appreciate the dedication and helpful nature that was consistently demonstrated. The efforts put forth were invaluable, and I feel fortunate to have worked with someone so committed and supportive.
It was really great working with Poonawalla Fincorp. Thanks to the support and coordination by the team. I was able to get a significant portion of my requirements despite having a bit of a mess in my financial records. The loan processing and disbursement process at Poonawalla Fincorp was super smooth. They were incredibly cooperative and helpful. I’m looking forward to building a healthy relationship with them in the future. Thank you.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
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Frequently Asked Questions
A debt consolidation loan is a Personal Loan that combines multiple debts into one EMI at a lower interest rate.
Poonawalla Fincorp maintains transparent loan terms with no hidden charges. However, applicable fees such as processing charges and taxes may apply as per the loan agreement.
A CIBIL score of 700 or higher is recommended for quick loan approval and favourable terms.
Poonawalla Fincorp offers a debt consolidation loan with competitive interest rates and flexible tenure of up to 84 months, which can help manage credit card debt.
The debt consolidation loan amount at Poonawalla Fincorp ranges from ₹1 Lakh to ₹50 Lakh based on eligibility.
The flexible tenure ranges from 12 to 84 months based on your repayment capacity.
After six EMIs, foreclosure from own funds attracts nil charges on this Personal Loan for debt consolidation.
No, the debt consolidation loan is fully unsecured with no collateral or security needed.
After successful verification and approval, the loan amount is typically disbursed quickly to your bank account.
Yes, the debt consolidation loan is commonly used to clear high-interest credit card balances.