Who can apply
- Indian resident
- Age 21 to 60 years
- Salaried or self-employed with regular income
- Minimum monthly income of ₹15,000
- A credit history that meets each lender’s policy
Debt consolidation loan
Combine your debts into one EMI.
Pay off credit card balances or several small loans with one personal loan, if it costs you less overall. Share your details once and our team will connect you with RBI-regulated lenders.
- Usually no collateral
- No fee to apply
- Never pay upfront
What it can cover
Where the money can go.
A personal loan is paid into your bank account, so you decide how to use it.
Credit card balances
Clear what’s left on one or more cards.
Several small loans
Close app loans or old personal loans.
Pay-later dues
Settle buy-now-pay-later balances.
One date, one EMI
Easier to track than many due dates.
Plan it well
Three things to do first.
Add up what you owe
List every balance, its rate and EMI. You need the full picture to compare.
Compare the total cost
A new loan only helps if its APR and fees cost less than what you pay now.
Don’t run up the cards again
Keep cards for emergencies, or the debt can come back.
Before you borrow
Make sure it actually saves you money.
Do the maths before you switch.
- Check the APR, fees and any foreclosure fee on your old loans
- Pay off the old debts as soon as the new loan arrives
- If you’re struggling to pay, talk to your lenders early
Example EMI
₹13,286 /month
For ₹4,00,000 over 36 months at an example rate of 12% a year. Not an offer; fees not included.
Plan your EMIEligibility
Who can apply and what you need.
Each lender sets its own criteria. Keep these handy; you won’t need to upload them on Firstfund.
Documents lenders usually ask for
- PAN card
- Aadhaar (for KYC, with your consent)
- Bank statements for the last 3 months (salaried) or 6 months (self-employed)
- Salary slips (salaried) or ITR (self-employed)
- Address proof, if different from Aadhaar
Good to know
Your rights as a borrower.
A Key Fact Statement before you sign
The lender must give you a Key Fact Statement with the APR, every fee and the repayment schedule before you sign. It stays valid for at least three working days, and a fee that isn’t in it can’t be charged without your consent.
Prepaying a floating-rate loan
For floating-rate personal loans sanctioned or renewed from 1 January 2026, lenders can’t charge a fee to prepay. Most personal loans have a fixed rate, so check the prepayment terms in the KFS.
Never pay to get a loan
Firstfund doesn’t charge you to apply. A real lender pays the loan into your own bank account, deducts any processing fee shown in the KFS, and never asks for money upfront.
Based on Reserve Bank of India directions on Key Facts Statements (2024), pre-payment charges (2025) and digital lending (2025). Your lender’s KFS and loan agreement have the final terms.
Questions
Debt consolidation: FAQs.
Will this help my credit score?
Paying every EMI on time helps your credit history. Missed payments hurt it. Results vary from person to person.
Can I apply if I’ve missed payments?
Some lenders may still consider you, but it can be harder. Talk to your current lenders too; they may offer a plan.
Does the lender pay my cards directly?
Usually not. The money comes to your own bank account and you pay off each debt yourself. Close each card balance or loan and keep the closure letters.
Does Firstfund charge me anything?
No. Sharing your details with Firstfund is free. Lenders may charge a processing fee, which they must show in the Key Fact Statement.
Other uses
Borrow for what matters to you.
- Medical needs
- Wedding
- Travel
- Home renovation
- Education
- Debt consolidation
Your next step
Ready for your next step?
Share your details once. Our team will connect with you about the next steps.
Apply now
Free. Firstfund never asks for an upfront payment.