General information only; not financial or tax advice. Laws and lender policies change—verify specifics before acting.
Run a before/after EMI and interest comparison.
Combining multiple high‑cost debts into one lower‑rate loan can simplify payments and reduce cost. But without spending discipline, balances can rebuild and negate benefits.
- Close old credit lines after transfer to avoid temptation.
- Choose shorter tenure to save interest if cash flow permits.
- Track total cost including processing and insurance.