Paying Too Many EMIs? Here’s a Smarter Way

Personal Loan Consolidation - Combine All Loans upto 99 Lacs into One EMI | LoansJagat
What is
Loan Consolidation?
Loan Consolidation is an easy way to merge multiple loan EMIs and credit card outstanding bills into a single EMI through an RBI-regulated bank or NBFC. This makes it easier, smoother, and faster to pay off the loan. You can improve your credit score while saving more than with your previous EMIs. The rate of interest, tenure, and approved loan amount are decided based on your credit history, income, number of loans being consolidated, and repayment history of these loans.
How Does Loans Consolidation at LoansJagat work?
You should Consolidate
(if you satisfy any of the following conditions):
If you've got 2+ active loans
If your EMIs are unmanageable
If your interest rates are too high
If you are paying min. due on Credit Cards
Total Savings
₹24,397 / month
Monthly EMI Reduced
₹ 53,722 → ₹ 29,325
EMI Savings
45.41%
Disclaimer:-The EMI figures are illustrative. Actual loan terms depend on the lender's credit policy and applicant eligibility.
LoansJagat is a marketplace platform that connects users with partnered banks and NBFCs. Loan approval and sanctioning decisions are made exclusively by the respective lender.
Few of our Lending partners include Axis Finance, Tata Capital, Yes Bank, Bajaj Finserv, Poonawalla Fincorp, Aditya Birla Finance Limited, etc.
Loan Consolidation Starting at
@9.99% p.a.
10 Lacs+
Customers Served
4.7/5
Google Reviews
10,000+
Pincodes Serving
2000 Cr+
Loans Disbursed
Apply for Loan Consolidation
Upto 50 Lacs
Total Loan Amount Outstanding
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10 Lacs+
Customers Served
4.7/5
Google Reviews
10,000+
Pincodes Serving
2000 Cr+
Loans Disbursed
Benefits and Features of Loan Consolidation
Make Single EMI
Merge multiple loans and credit card bills into a single consolidation loan
High Loan Eligibility
Get additional loan amounts by clubbing multiple loans up to ₹50 Lacs
Flexible Repayment Options
Easily repay the loan in up to 84 months
Simplified Payments
Pay just one EMI per month instead of juggling multiple repayments
Faster Approvals
Quick digital processing with minimal documentation required
Increased Savings
Lower your EMI and increase monthly savings
Lower Interest Costs
Lower Rate of Interest Benefit depending upon your credit profile and count of consolidated loans
Wide Choice of Lenders
Compare and apply with 20+ banks and NBFCs for the best deal
Credit Score Improvement
Timely repayment of a consolidated loan helps boost your credit score
Hassle-Free Process
Complete the entire process online without any physical paperwork
Example of Loan Consolidation
For Example, let's assume Mayank is an employee working in a technology company who has taken multiple loans and also has a few credit card bills to pay off. Let’s assume he has 4 personal loans and outstanding balances on 6 credit cards ( as per the table below).
Current Loan Details
Loan Type Outstanding Amount Interest Rate (p.a.) Tenure Monthly EMI
Personal Loan 1 2,75,000 19
% 3 Years 10,080
Personal Loan 2 1,80,000 22
% 4 Years 5,671
Personal Loan 3 3,45,000 17
% 2 Years 17,058
Personal Loan 4 4,20,000 10.5
% 5 Years 9,027
Credit Card Outstanding (Up To 6 Cards) 2,80,000 30
% 3 Years 11,886
Total ₹
15,00,000 10.5% - 30% — ₹
53,722
It was difficult for him to pay different EMI amounts on different dates each month. He chose to consolidate all his loans and credit card bills at an APR of 12% p.a. for a 6-year tenure, with a one-time processing fee of 2%, totalling Rs 30,000 , along with stamp duty charges of ₹500.
In this case, he has to repay all loans and credit card bills with just 1 Single EMI ( ₹.29,325 * 72 months), which totals to Rs. 21,11,400 ( Principal = Rs 15,00,000 and total interest of Rs. 6,11,400 over a 6-year tenure).
Before VS After
Before
Existing Loans Situation
Outstanding Amount: ₹15,00,000
Average ROI (p.a.): 10.5% - 36%
Total EMI ₹53,722
After
Single New Consolidated Loan
Outstanding Amount: ₹15,00,000
Interest Rate: 12%
New Tenure: 6 years
New EMI: ₹29,325
Repayment Period Minimum 2 years to Maximum 7 years
Annual Percentage Rate (APR) Minimum 9.99% to Maximum 17%
Processing Fees 1% to 2%
Stamp Duty Charges ₹ 500
FAQ s
All frequently asked questions related to Personal Loan Consolidation
Can I merge all my personal loans with no physical security? +
How much will I save after merging all my personal loans and credit card bills? +
What documents do I need to apply for a loan consolidation? +
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