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Pick from pre-designed plans to suit different needs and budgets.
Get Up to ₹5 Lakh Personal Loan for Debt Consolidation
No Collateral Required
Instant Approval
Tenure up to 48 months
Personal Loan for Debt Consolidation
Looking for a personal loan for Debt Consolidation? FatakPay makes borrowing simple with a fully digital application process, minimal documentation, and quick approvals. Whether it's a planned expense or an urgent requirement, you can access the funds you need without pledging any collateral.
Personal Loan EMI Calculator
Our Personal Loan Calculator and Personal Loan Eligibility Calculator help you plan your monthly EMI and understand your chances of approval before applying.
Loan Amount: ₹1,20,000
₹10,000₹5,00,000
Tenure: 9 months
3 months48 months
Interest Rate: 8%
0%36%
Monthly EMI
₹13,782
Total Interest
₹4,035
Total Payment
₹1,24,035
Apply for Debt Consolidation Loan in 3 Simple Steps
Sign in & Verify
Enter mobile number and OTP.
Complete Digital KYC
Verify basic documents like Aadhaar & PAN Card
Get Instant Funds
Accept the given loan offer
Why choose FatakPay for Debt Consolidation Loan?
Debt Consolidation Loan Eligibility Criteria
Applying for a Personal Loan for Debt Consolidation through FatakPay is simple and requires meeting a few basic eligibility conditions.
1. Nationality
Applicants must be Indian residents to qualify for a personal loan.
2. Age Criteria
You should be between 21 and 55 years of age at the time of application, ensuring eligibility across early to mid-career professionals.
3. Documents Required
The application process is fully digital and requires basic KYC verification. You'll need your Aadhaar card, PAN card, and a quick selfie to complete the process. No lengthy paperwork is involved.
4. Income Proof
To support your application and enable faster approvals, you'll need to submit valid income proof. This helps us assess your repayment capacity and offer suitable loan options.
5. Employment Eligibility
FatakPay Personal Loans are available for both salaried individuals and self-employed professionals. Whether you have a steady monthly income or run your own business, you can apply for an instant personal loan with ease.
With minimal documentation and a 100% digital process, getting access to funds is simple, fast, and hassle-free.
Documents Required for Debt Consolidation Loan
Get a Personal Loan for Debt Consolidation with minimal documentation
Basic KYC Documents
PAN, Aadhar and Income Proof
Live Selfie
For Identity Verification
Debt Consolidation Loan Interest Rates & Charges
Choose the plan that matches your loan requirement and repayment capacity
FatakLite
Loan AmountUp to ₹60,000
TenureUp to 9 months
Processing FeeUp to 6%
Interest Rate0.05% per day
Popular
FatakPlus
Loan AmountUp to ₹3,00,000
TenureUp to 36 months
Processing Fee5%
Interest Rate0.05% per day
Best Value
FatakPrime
Loan AmountUp to ₹5,00,000
TenureUp to 48 months
Processing Fee2%
Interest Rate0.04% per day
Check the latest Personal Loan interest rates before you apply for loan options online.
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FAQs
What is a debt consolidation loan, and how does it work?
A debt consolidation loan lets you combine multiple debts like credit card bills, EMIs, or personal loans into a single loan with one monthly payment. Instead of juggling multiple due dates and interest rates, you repay everything through one simple EMI. With FatakPay, you can get a personal loan to pay off all your existing debts and focus on a single, manageable repayment plan.
Will debt consolidation improve my CIBIL score?
It can, if done responsibly. When you consolidate your debts and make timely EMI payments, it reflects positively on your credit report. It also reduces your credit utilisation ratio (especially if you are clearing credit card dues), which is a key factor in improving your CIBIL score over time.
What CIBIL score do I need for a debt consolidation loan?
Generally, a CIBIL score of 750 or above improves your chances of getting a debt consolidation loan approved. However, FatakPay evaluates multiple factors beyond just your credit score including income, repayment history, and overall financial profile, so even if your score is slightly lower, you may still be eligible.
What is the maximum amount I can get with a debt consolidation loan?
With FatakPay, you can get a debt consolidation loan of up to ₹5 lakhs, depending on your eligibility, income, and credit profile. The loan amount is assessed based on your overall repayment capacity.
Can a self-employed person get a debt consolidation loan?
Yes, self-employed individuals can apply for a debt consolidation loan with FatakPay. You will need to provide proof of income, such as bank statements or ITR filings. Eligibility is assessed based on your income stability and repayment capacity, not just your employment type.
