Loan Consolidation

Loan consolidation or balance transfer is the process of combining multiple loans into a single loan with one monthly payment. This helps to simplify the repayment and can potentially reduce the overall interest rate and monthly financial burden.

Merits:

Converts multiple EMIs into a single EMI.
Reduces the overall monthly EMI payment.
Improves your CIBIL score through better repayment management.

Document List for Loan Consolidation:

Preliminary Documents

Aadhaar Card, PAN Card, and KMC Registration.
Bank statements for the last 1 year.
Income Tax Returns (ITR) and financial statements for the last 2 years.
Existing loan repayment track record and loan foreclosure statement.