Personal Loan · Instant Approval

Debt Consolidation Loan

Juggling multiple EMIs and steep interest rates? Janmudra's Instant Debt Consolidation Loan folds all your debts into one easy EMI — fast, secure and hassle-free.

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Quick Guide

What is a Debt Consolidation Loan?

A debt consolidation loan is a financial tool that merges all your existing borrowings — credit card balances, personal loans and more — into one manageable loan. One EMI replaces many payments, usually at a lower rate than credit cards or unsecured loans, saving money and stress alike.

Picture three loans and two credit cards, each with its own due date, rate and EMI. A consolidation loan hands you a lump sum to clear them all — leaving just one EMI, one interest rate and one due date to think about.

Features & Benefits of Debt Consolidation Loan

Lower Interest Rates

Swap high-interest debts like credit cards for one loan at a friendlier rate.

Simplified Finances

A single EMI and a single due date end the juggling act entirely.

Reduced Stress

Fewer payments to track means fewer missed dues and late fees.

Improved Credit Score

Clearing multiple debts improves your credit utilisation ratio — and paying the new EMI on time lifts your score.

Flexible Repayment

Choose a tenure that suits your budget, anywhere from 12 to 84 months.

No Collateral Needed

Most consolidation loans are unsecured, so your assets stay untouched.

Quick Approval

Instant consolidation loans come with approvals in minutes and funds within a day.

Transparency

Clear terms, easy online tracking and not a single hidden charge.

— Eligibility —

Debt Consolidation Loan Eligibility Criteria

Meeting these simple requirements is all it takes:

Age

21 to 80 years (at loan maturity)

Citizenship

Indian resident

Employment Type

Salaried (public, private, or MNC), self-employed, or professional

Minimum Income

Varies by city and lender; often starts at ₹30,000/month for metros

Credit Score

700+ for best rates, but flexible for some lenders

Existing Debt

Should be able to demonstrate the ability to repay the new loan

Employment Stability

Minimum 1–2 years in current job or business

Documents Required for Debt Consolidation Loan

— Documents —

Keep these basics ready for a fast online approval:

KYC Documents

PAN card

Aadhaar card

Voter ID

Driving License

or Passport

Address Proof

Utility bill

passport

or rent agreement

Income Proof

Latest salary slip or bank statement (last 3 months)

Employment Proof

Employee ID or official email (for salaried)

Financial Documents

Bank statement (last 6 months)

ITR for self-employed

Photograph

Passport-size photo

Quick & Easy Process

How to Apply for a Debt Consolidation Loan?

Apply online in just a few simple steps

Check Your Credit Score

Free tools reveal where you stand — higher scores unlock better rates.

Calculate Your Total Debt

List every loan and credit card you intend to consolidate.

Visit Janmudra

On our website, select "Debt Consolidation Loan Online".

Compare Offers

Enter your details to see personalised offers from top banks and NBFCs.

Choose the Best Option

Weigh the interest rates, EMIs and tenures against each other.

Apply Online

Complete the application and upload your documents digitally.

Get Instant Approval

Many loans clear approval within minutes.

Disbursal

Funds typically reach your account within 24 hours of approval.

Pay Off Old Debts

Use the money to close out your existing loans and credit cards.

Repay Single EMI

Settle into the simplicity of one EMI and one due date.

Debt Consolidation Loan Interest Rate & Applicable Charges

The charges that apply across different parts of the loan are tabled below:

Particulars	Charges
Collateral	Unsecured loan — no collateral required
Loan Amount	Up to ₹55 lakh (varies by lender)
Repayment Tenure	Up to 96 months
Approval & Disbursal	Quick approval and disbursal, often within 24 hours
Terms	Transparent terms with no hidden charges

Compare Debt Consolidation Loan Offers from Our Top Lenders

Rates, tenures and charges vary between lenders and states — compare through Janmudra without touching your credit score.

Provider	Interest Rate (p.a.)	Tenure	Processing Fee	Special Features / Offers
ICICI Bank	10.85% – 16.25%	12 – 72 months	Up to 2%	Quick digital approval, flexible part-prepayment
HDFC Bank	10.90% – 21%	12 – 60 months	₹6,500 + GST	Instant approval for pre-approved customers
Axis Bank	10.40% – 22%	12 – 84 months	—	Fully digital process, quick disbursal
Bajaj Finserv	10% – 31%	12 – 96 months	Up to 4%	Flexi loan, interest-only EMI for initial tenure
Kotak Mahindra Bank	10.99% onwards	—	Up to 5%	Zero prepayment charges after 12 months
IDFC First Bank	10% onwards	—	—	Flexible repayment options