While repayment of multiple small debts requires extensive planning, you must also take care to pay the dues in time for proper financial management and high creditworthiness. Conversely, you can opt for a debt consolidation loan and pay off your existing small debts with the high-value advance.
Available as a loan against property for debt consolidation, the advance simplifies the management of finances. Repayment of only one loan also reduces the chances of default. The following features accompany the loan.
A type of loan against property advances for debt consolidation are available in large amounts, which can extend up to Rs.3.5 crore with some lenders. It thus facilitates repayment of debts like personal loans, credit card bills, etc.
Long and flexible repayment tenor
Tenors ranging up to 20 years make repayment of debt consolidation loans convenient. Choice of a suitable tenor thus brings EMIs within your repayment capacity as well as affordability.
Balance transfer facility
You can also transfer the loan balance from your existing lender to a new one offering lower rates of interest. It thus helps you save on interest payment significantly, among other advantages.
High affordability, accompanied by ease of repayment makes a debt consolidation loan one of the best options to convert multiple small debts into one. Make sure to compare lenders to arrive at the best loan offer.
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