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Loan for Debt Consolidation

Loan for Debt Consolidation

Online Personal Loan for Debt Consolidation made easy

What is Debt Consolidation?

Debt consolidation means taking out a new personal loan to pay off a number of existing high interest loans and consumer debts, generally unsecured ones with just one monthly payment rather than several. Usually with more favorable payoff terms a lower interest rate, lower monthly payment or both. Consumers can use debt consolidation as a tool to repay debt with several banks such as student loan debt, personal loan debt, credit card debt and other types of debt.

OMLP2P offer unsecured debt consolidation with lesser rate of interest than usual but higher than secured loan. The benefit of unsecured debt consolidation is that your collateral is not at risk.

To get loan for debt consolidation our internal team assess your complete financial situation, your income, current debt burden, other expenses etc. and suggest if debt consolidation is a good option for you.

Who is eligible for Debt Consolidation Loan?

  • The borrower must be an Indian citizen and resident of India
  • Should be above 18 years of age and capable of entering into a legal contract as per the Indian Contract Act.
  • Needs to have a valid Bank Account, Aadhaar Card and a valid PAN number.

How much amount?

  • You can get quick loan online for any value between Rs. 25,000/- to Rs. 10,00,000/- (in multiples of Rs. 5,000)

Documents Required for Debt Consolidation

  • PAN Card
  • Address Proof – Valid Aadhaar Card / Driving License / Voter ID / LPG Bill
  • Passport size photograph
  • For Salaried Person – a) Last three months’ bank statement into which salary is credited b) Form 16 / Last three months’ salary slips
  • For Self-Employed Person – a) Last twelve months’ bank statement b) Last two years’ Income Tax Returns (ITR)

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