Debt consolidation loans
Pay off credit card dues and other loans with one personal loan at a lower rate. The lenders whose own pages offer it, and when it saves money.
Related: Low CIBIL score · Loan apps with RBI status · Without salary slip
18 lenders · last verified 2026-10-21 · how we compare
Want one EMI instead of several? See offers matched to your profile
Check your loan offersVia our referral partner. It uses your PAN, credit score and income to suggest lenders likely to approve you. Approval isn't guaranteed. We may earn a commission. CreditParakh is not a bank or lender and doesn't guarantee approval. Approval is at the bank's or lender's discretion.
Lenders you can apply to through us
| Lender | What the lender says | Interest rate | Apply |
|---|---|---|---|
| IDFC FIRST Bank | The FIRSTmoney personal loan page lists debt consolidation among the needs the loan can cover. | From 9.99% a year | Apply nowVia our referral partner. We may earn a commission. |
| Poonawalla Fincorp | Poonawalla has a debt consolidation loan page and names paying off credit card bills, personal loans and other debts as a use; the product page also lists merging high-interest liabilities such as card balances. | From 9.99% a year | Apply nowVia our referral partner. We may earn a commission. |
| KreditBee | KreditBee's own blog post on using a personal loan to clear credit card debt ends by inviting readers to take a KreditBee personal loan for it. The product page's list of uses (travel, education, emergencies, shopping, wedding and others) doesn't name it. | 12% to 27.5% a year | Apply nowVia our referral partner. We may earn a commission. |
| Freo | Freo has a debt consolidation loan page (up to ₹5 lakh): eligible borrowers can combine eligible credit card balances, personal loans and other dues into one repayment plan. | 12% to 36% a year | Apply nowVia our referral partner. We may earn a commission. |
| Kissht | Kissht's personal loan FAQ names debt consolidation as a use of the loan. | 12% to 36% a year | Apply nowVia our referral partner. We may earn a commission. |
| lendingplate | lendingplate has a debt consolidation loan page: one loan to pay off existing loans and credit card debts with several lenders, leaving a single EMI. | 12% to 36% a year | Apply nowVia our referral partner. We may earn a commission. |
| Moneyview | Moneyview's personal loan page names debt consolidation (one loan to repay several running loans) and repaying credit card dues before they attract card interest as uses of the loan. | 14% to 36% a year | Apply nowVia our referral partner. We may earn a commission. |
| FatakPay | FatakPay has a debt consolidation loan page: use the loan to clear several EMIs, high-interest credit card dues, other personal loans or overdue bills and repay one EMI. | From 14.4% a year | Apply nowVia our referral partner. We may earn a commission. |
| Unity Small Finance Bank | Unity's personal loan page says the loan can pay off several outstanding loans, including high-interest loans or credit card debt, consolidating them into one loan. | 16% to 30% a year | Apply nowVia our referral partner. We may earn a commission. |
| Finnable | Finnable lists debt consolidation first among the top uses of its personal loan. | 16% to 30.99% a year | Apply nowVia our referral partner. We may earn a commission. |
| Hero FinCorp | Hero FinCorp's personal loan FAQ names debt consolidation among the uses of the loan. | 17.9% to 30% a year | Apply nowVia our referral partner. We may earn a commission. |
| Prefr | Prefr's own blog (12 Aug 2026) describes using a Prefr personal loan (₹51,000 to ₹5 lakh, 12 to 48 months) to merge several EMIs into one and links to apply for a debt consolidation loan on Prefr. | 18% to 30% a year | Apply nowVia our referral partner. We may earn a commission. |
Consolidation helps only if the new rate is lower and you stop adding to the old debts. From each lender's own pages, in our words; the lender decides on your application. Ranked by the lowest published starting rate. We compare lenders available through our partner; ranking never depends on what we earn.
Big banks and NBFCs (we don't arrange these loans)
| Lender | What the lender says | Interest rate |
|---|---|---|
| Axis Bank | The personal loan page FAQ lists combining existing debt among the uses of the loan. | 8.9% to 21.55% a year |
| HDFC Bank | HDFC Bank's own blog has a guide to consolidating several loans, including credit card dues, into one HDFC personal loan. The product page itself does not list consolidation as a use. | 9.99% to 24% a year |
| ICICI Bank | ICICI's personal loan FAQ names debt consolidation as one of the uses of the loan. | 9.99% to 16.5% a year |
| IndusInd Bank | IndusInd has a dedicated 'Personal Loan for Debt Consolidation' page: merge several debts, including higher-interest credit card debt, into one loan of ₹30,000 to ₹5 lakh over 12 to 72 months, with rates from 10.49%, applied for through its instant digital personal loan. | From 10.49% a year |
| Kotak | The documents page names consolidating debts as a use of the personal loan, and the balance transfer page says savings can go towards paying off other debts. | From 10.99% a year |
| Tata Capital | The product and documents pages name debt consolidation as a use of the personal loan, and the balance transfer page says several personal loans from different lenders can be combined into one loan. | 10.99% to 33% a year |
From each bank's own pages. We don't arrange loans from these banks; see each bank's page on our site for its rates and EMI.
Related
- True Cost of a Personal Loan: Fees and APRWhat a personal loan really costs: flat vs reducing rate, processing fee and GST, APR in the Key Fact Statement, foreclosure and penal charges.
- CIBIL Score: Check Free, Improve in 90 DaysCheck your CIBIL score free with one full report a year from each bureau, dispute errors yourself, and build a better score with a 90-day checklist.
- Personal loan balance transferMove one loan to a lower rate
- Personal loans for a low CIBIL scoreWho lends at 650 or below
- Credit card EMI calculatorCard EMI vs a personal loan
Questions people ask
What is a debt consolidation loan?
A personal loan you use to pay off several debts, such as credit card balances and small app loans, so you're left with one EMI to one lender, ideally at a lower rate. Lenders don't always sell a separate product; many simply list debt consolidation as an allowed use of their personal loan.
Does debt consolidation save money?
Only if the new rate, after the processing fee, is clearly lower than what you pay now. In our example, ₹2,00,000 over 36 months costs about ₹1,29,796 interest at 36% and ₹32,272 at 9.99%, before fees. Your rates will differ.
Will a debt consolidation loan hurt my CIBIL score?
The new lender's credit check is an enquiry, but paying off card balances lowers how much of your limits you use, which usually helps your score over time, as long as you pay the new EMIs on time and don't build up the card balances again.
Can I consolidate debt with a low CIBIL score?
It's harder, because missed payments are often why the debts built up. Some lenders publish a 650 floor or say they look beyond the score; see personal loans for a low CIBIL score. If you can't get a lower rate, talk to your card issuer about converting the balance to an EMI.
See all lenders. CreditParakh is not a bank or lender and doesn't guarantee approval. Approval is at the bank's or lender's discretion.