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Debt consolidation

• Pay single EMI for multiple loans
• Reduces your stress
• Only minimal document required
Enquiry Form
Debt consolidation
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month)
Bank Name Min Interest Rate
₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Debt consolidation loan Eligibility Criteria?

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.

Debt consolidation loan Eligibility Criteria

There are few eligibility criteria you are required to have a look before applying for loan -

  • • Applicant should be in-between 21 –60 years
  • • Worked under govt or private sector in listed companies
  • • Minimum salary of individual should be 25,000/-
  • • At least 2 years of total work experience & 1 year with current employer
  • • Should have good credit history
  • • Applicant must be resident of India

What are the factors generally affecting Debt consolidation loan Eligibility Criteria?

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.

What are the ways to increase Debt consolidation loan 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.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. BRIEF HISTORY OF COMPANY
  11. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  12. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  13. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  14. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  15. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  14. BRIEF HISTORY OF COMPANY
  15. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  16. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  17. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  18. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  16. BRIEF HISTORY OF COMPANY
  17. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  18. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  19. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  20. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
  17. BRIEF HISTORY OF COMPANY
  18. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  19. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  20. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  21. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
Frequently Asked Questions

What are the benefits of debts consolidation?

  • Minimal documentation
  •  flexible tenor
  • Instant approval
  • Pre-approved offer

How much loan I can get for debts consolidation?

You can take a up to 25 lakhs for debts consolidation.

How can I apply for debts consolidation loan?

You can apply for debts consolidation through online from these following steps: -

  • Choose your loan amount
  •  Summit all required documents
  • Receive the amount in your bank within 24 hours.

How we can get debt consolidation loan?

You can get a debts consolidation loan from financial institute, or a private and government bank.

Is debts consolidation secured loan or an unsecured?

Debt consolidation loan may be secured or unsecured.

Is collateral required in debts consolidation?

Debt consolidation loans required collateral, such as your home, car, retirement account, or insurance policy

Who is eligible for debts consolidation?

Salaried individual can apply for debts consolidation loan.

What is debts consolidation?

Debt consolidation is a process of combining a single loan into one interest rate.

Can I apply for debts consolidation in bad cibil score?

For applying debts consolidation loan your cibil score should be above than 750.

Related Topics

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