What are the benefits of Debt Consolidation?
- Minimal documentation
- Flexible tenor
- Instant approval
- Pre-approved offer
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If you were unable to track multiple debt’s, missing one to one payment! let your worries be aside. Debt consolidation is an ideal option which give you the flexibility of paying EMI at a single time for multiple debt.
There are few eligibility criteria you are required to have a look before applying for loan -
There are Top factors that generally affects Debt consolidation loan Eligibility Criteria as given below-
Due to Incomplete Documentation: - One of the major reasons behind affecting the eligibility is incomplete documentation, for applying any kind of loan proper document requirement is the basic criteria of all banks & NBFC, due to incomplete docs your application will get rejected.
Irregular behavior in payment: - Lender will go through your application & check your credit report to know about past performance on doing payments & all, if it seems like you had irregular, default in making payment will affect your eligibility.
To increase Debt consolidation loan eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Do payment on time: - This can be the best way to increase eligibility as lender will consider your past repayment history by checking your credit score. Therefore, by giving importance to do payment on time will rescue from affecting credit score as well as eligibility.
Maintain good credit: - Pay your loan EMI, bills on regular basis to avoid any kind of score affect in credit. If you are looking to close old credit cards, avoid doing that, as it can help you increasing credit limit as well as loan eligibility.
What are the benefits of Debt Consolidation?
How much loan I can get for Debt Consolidation?
You can take a up to 25 lakhs for Debt Consolidation.
How can I apply for Debt Consolidation Loan?
You can apply for Debt Consolidation through online from these following steps: -
How we can get Debt Consolidation?
You can get a Debt Consolidation Loan from financial institute, or a private and government bank.
Is Debt Consolidation Secured Loan or an Unsecured?
Debt Consolidation Loan may be Secured Loan or an Unsecured.
Is Collateral required in Debt Consolidation?
Debt Consolidation Loans required Collateral, such as your home, car, retirement account, or insurance policy
Who is eligible for Debt Consolidation?
Salaried individual can apply for Debt Consolidation Loan.
What is Debt Consolidation?
Debt Consolidation is a process of combining a single loan into one Interest Rate.
Can I apply for Debt Consolidation in bad cibil score?
For applying Debt Consolidation Loan your cibil score should be above than 750.