PLAY STORE
APPSTORE
1800 270 7000
Download
Attractive returns
Life Insurance
Health Insurance
Mutual Fund
Home Finance
Personal Finance
Stocks & Securities
Debt Consolidation Loan
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
YEARS OF EXCELLENCE
ACTIVE CUSTOMER BASE
BRANCHES ACROSS INDIA
AUM AS OF JUNE, 2023
What is a Debt Consolidation Loan?
A debt consolidation loan is a smart financial tool that combines multiple high-interest debts like credit cards, personal loans, or overdrafts into one single loan with a lower interest rate and fixed EMI. This simplifies your finances by replacing several payments with just one manageable monthly instalment. The best debt consolidation loan helps you save on interest, avoid late fees, and focus on repayment without juggling due dates. It’s unsecured, quick to process, and ideal if you’re struggling with debt consolidation across different lenders.
Apply for a Debt Consolidation Loan
Features of a Debt Consolidation Loan
One Loan for All Your Dues
Merge credit cards, personal loans, and other liabilities into a single personal loan, making repayment easier and more organised.
One Predictable Monthly EMI
Replace multiple due dates with one fixed EMI, helping you manage cash flow and avoid missed payments.
Lower Interest, Smarter Savings
Consolidate high-interest debts into a loan with competitive rates and reduce your overall interest burden.
Plan Before You Commit
Use the personal loan EMI calculator to estimate your EMI and choose a tenure that fits your financial comfort.
A debt consolidation loan offers a cleaner, more controlled path to becoming debt-free, without the stress of managing multiple repayments.
Reasons To Get a Debt Consolidation Loan from Aditya Birla Capital
Simplified Repayments
A debt consolidation loan combines multiple outstanding debts into a single loan, making repayments easier to manage. Instead of keeping track of several due dates and EMIs, you make one monthly payment, reducing the chances of missed payments.
Lower Interest Rates
If you qualify, a debt consolidation loan may offer a lower interest rate than your existing high interest debts, such as credit cards. This can help reduce your overall borrowing cost and make repayment more affordable over time.
Fixed Monthly Instalments
With fixed monthly instalments, you know exactly how much you need to pay every month throughout the loan tenure. Predictable EMIs make it easier to plan your monthly budget and manage your finances with confidence.
No Collateral Required
Many debt consolidation loans are unsecured, meaning you don't need to pledge any asset or property as collateral. This allows you to consolidate your debts without putting your valuable assets at risk.
Improved Credit Score
Making timely EMI payments can help improve your credit profile over time. A lower credit utilisation ratio and consistent repayment history may contribute to a healthier credit score, subject to your overall financial behaviour.
Interest Rates Available for Debt Consolidation Loans (2025 Update)
Loans up to 12 months
| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months
| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
How to Apply for a Debt Consolidation Loan Online
Visit the Aditya Birla Capital Website or App
Start by visiting the official Aditya Birla Capital website or downloading the app. You can access all the loan services we offer.
Check Your Eligibility
Use our online eligibility calculator to check whether you meet the requirements for a ₹5000 personal loan.
Fill Out the Online Application Form
Complete the application form with your personal details, employment information, and income data.
Upload the Required Documents
Upload scanned copies of the required documents, such as your identity proof, address proof, income proof, and photographs.
Verification and Approval
Once your documents are verified, your personal loan application will be processed, and approval will be granted if all criteria are met.
Funds Disbursal
After approval, the loan amount will be disbursed to your bank account within 24 to 48 hours.
Eligibility Criteria for Debt Consolidation Loans
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
- Salaried Individuals Private or government employees with a regular monthly income and stable employment history.
- Self-Employed ProfessionalsQualified professionals such as doctors, chartered accountants, architects, consultants, and similar practitioners with consistent earnings.
- Self-Employed Non-ProfessionalsBusiness owners, traders, and entrepreneurs running proprietary or partnership businesses.
- Citizenship & Age Applicants must be Indian citizens aged between 21 and 60 years, with the upper age limit possibly extended at loan maturity.
- Credit ScoreA CIBIL score of 750 or above is preferred, as a higher score improves approval chances and helps secure better interest rates and terms.
- Income Requirement A minimum monthly income of ₹25,000 or more is required, subject to variation based on city, employer, and applicant profile.
- Existing Liabilities Outstanding debts such as credit card balances, personal loans, or similar borrowings that are eligible for debt consolidation under the loan.
Fees and Charges for
Debt Consolidation Loans
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual, if applicable |
| Pre-closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual, if applicable |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
ABC Of Calculators
Your estimated EMI amount
₹ 0Total Interest
₹ 0Total Payout
₹ 0You are eligible for a loan of
₹ 0*EMI @ 9% Interest Rate
₹ 0*
BALANCE TRANSFER LOAN
-
Reduced Interest Rates. -
Lower Monthly Payments.
TOP UP LOAN
- Easy application process
- Borrow up to 80% of property value
Different financial needs, different loans,
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
-
Range of loan options for different needs
-
Quick sanctions and disbursals
PLAY STORE
APP STORE
Scan the QR code to download our Mobile App
Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
Customer Satisfaction Stories
Aditya Birla Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
Aditya Birla Finance Customer
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.
For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.
The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.
ABC Of Personal Loan