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Debt Consolidation Calculator
See if consolidating multiple debts into one loan saves money.
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Frequently asked questions
What is debt consolidation?
Taking one new loan (usually a personal loan) to pay off several smaller high-rate debts — typically credit cards. You now have one EMI to track instead of many.
Does consolidation hurt my credit score?
Short term: a small dip from the hard inquiry. Long term: your score usually improves as utilisation drops and you make one regular EMI instead of multiple minimum payments.
When does consolidation fail?
When you consolidate but keep using the cleared credit cards, ending up with both the loan and new card debt. Discipline is non-negotiable.
Is a balance transfer card better?
If the total balance is small and you can pay it off in the 0% promo period (usually 3–6 months in India), a balance transfer beats consolidation. Otherwise the consolidation loan wins.