A debt consolidation loan means a bank or financial institution combines all your debts into one single loan, and you have to make one fixed monthly payment. The interest rate of a debt consolidation loan is generally much lower than that of the penalty interest rate for late repayment, which possibly cut your interest at half.
Articles in this section
- What are Loans?
- What are the Personal Loans? How are they different from other consumer loans?
- What are the types of Personal Loans Available in Hong Kong?
- Why do I need a Personal Loan? How Much Should I Borrow?
- Why do I need a Personal Loan? How Much Should I Borrow?
- What do I need to make a successful Personal Loan Application?
- How is the Maximum Personal Loan Amount Calculated?
- How should I compute Total Interest Amount?
- How long does it take to process my personal loan applications?
- What do I need to make a successful Personal Loan Application?