Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
Debt consolidation combines multiple high-interest debts (like credit card dues) into a single loan, typically at a lower interest rate, simplifying repayment.
Merging several expensive debts into one loan with a lower rate and a single EMI.
Often done via a personal loan or loan-against-property to replace high-cost credit card debt (30–42% APR) with a lower-cost secured or unsecured loan.
Consolidating ₹3 lakh of credit card debt at 36% APR into a 14% personal loan cuts the effective interest cost sharply.
Merging several expensive debts into one loan with a lower rate and a single EMI.
Debt Consolidation helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.