Want a stress-free festive season? Try a personal loan for debt consolidation

Tired of juggling multiple EMIs that keep eating into your monthly income? You’re not alone. Many people manage several payments at once — credit card dues, car loan instalments, and maybe even a personal loan — all with different due dates and interest rates. Add to that family responsibilities, children’s education, or caring for ageing parents, and things can quickly feel overwhelming — especially with the festive season approaching, when stress should take a backseat.

This is where a personal loan for debt consolidation can help. It lets you pay off all your existing debts with one new loan, so you’re left with just a single EMI to track, often at a lower interest rate. Learn how it can simplify your repayments and help you enjoy the festivities without financial worry.

Why consider a personal loan for debt consolidation this festive season?
 

The festive season brings joy, but it also causes a sharp spike in expenses. From shopping and gifting to home renovations, gold purchases, and travel, it’s easy to lose track of your money. And when you're already juggling multiple high-interest EMIs, this can put serious pressure on your finances.

That’s why using personal loans for debt consolidation is an easy way to regain control. By merging your debts into a single, more manageable EMI, you reduce the mental load of tracking scattered payments. You also free up your monthly cash flow to focus on what really matters — celebrating without stress.

In fact, the best debt consolidation loans offer several benefits, such as:

1. Worry only about one EMI
 

Instead of juggling and panicking over multiple payment dates, you only need to track a single EMI — one due date, one repayment amount. This makes budgeting far simpler at a time when expenses are higher and your mind is already occupied with a dozen other things.

2. Pay lower interest cost
 

There’s no doubt that managing multiple debts can be a hassle. Some, like credit card bills, can be especially expensive due to high interest rates. But if you choose a debt consolidation loan wisely, with favourable interest rates, you can roll everything into a single, lower-cost loan. That means more savings to enjoy festive shopping and indulgences.

3. Don’t miss payments during busy festive months
 

Festive rush is always exciting and chaotic. But amid all the celebrations, it’s easy to miss a few payments. A missed EMI can lead to late fees, penalty interest, and even affect your credit score. With a personal loan for debt consolidation, you only have one EMI to manage, making repayments easier and stress-free. Add an auto payment feature, and you can focus on the celebrations — not the due dates.

FIRSTmoney: The smart way to get a personal loan for debt consolidation
 

If you’re looking for one of the best low-interest personal loans for debt consolidation, FIRSTmoney by IDFC FIRST Bank offers just what you need. Some of its standout features that ensure ease and convenience for you at all times include:

1. High loan amount
 

Get funds of up to ₹10 lakh to comfortably consolidate multiple EMIs. Whether it’s credit cards, car loans, or other dues, you can bring them under one simple repayment plan.

2. Competitive interest rates
 

With rates starting from just 9.99% p.a., you pay significantly less compared to high-interest credit cards or short-term loans, making your repayments more affordable.

3. Flexible repayment terms
 

Choose a tenure between 9 and 60 months, depending on your income and lifestyle. This helps you align repayments with your monthly cash flow and financial goals.

4. Minimal documentation
 

Say goodbye to stacks of paperwork or physical forms. Apply for a FIRSTmoney personal loan only using your Aadhaar and PAN number and display your physical PAN card during the video KYC.

5. 100% digital journey
 

Apply for a FIRSTmoney personal loan for debt consolidation from the comfort of your home. The entire process, from application to approval, can be done online in just a few clicks.

6. Instant approval and disbursal
 

With instant approvals and disbursals as quick as 30 minutes, you can consolidate your debts when you need it the most, without any delays or disruptions.

7. Zero foreclosure charges
 

Got a bonus or extra funds? Pay off your loan early without penalty. With zero foreclosure charges, a FIRSTmoney personal loan helps you become debt-free faster.

Tips to ensure timely repayments
 

While choosing the right personal loan option for debt consolidation is important, it’s equally crucial to ensure timely repayments. Here are some tips to help you stay on track to becoming debt-free:

1. Choose the right loan tenure
 

Choosing the right tenure for your debt consolidation personal loan can make a big difference. A longer tenure means lower EMIs but higher overall interest, while a shorter tenure helps you repay faster but with higher EMIs. Use an EMI calculator to find what suits you best.

2. Set an emergency buffer
 

Keep at least one EMI amount aside as a financial cushion. This small buffer can protect you during unexpected expenses and help you avoid missing a payment.

3. Prioritise EMI over extras
 

Cut down on non-essential expenses like dining out or impulse purchases, but never delay your EMI. Timely payments help maintain your credit score and avoid unnecessary penalties.

4. Set up auto-debits
 

Automate your EMI payments through auto-debit or standing instructions to ensure you never miss a due date and protect your credit score from accidental delays.

5. Let your EMI guide festive spending
 

Treat your EMI as non-negotiable when budgeting for the festive season. Whatever remains after setting funds aside for it is your real budget for gifts, gatherings, and travel.

Why come to IDFC FIRST Bank for a debt consolidation personal loan?
 

Once you’ve weighed the pros and cons of a personal loan for debt consolidation, it's easy to understand how much the right loan can ease your financial stress. This is why choosing the right lending partner is so important.

Here's how a FIRSTmoney personal loan gives you a complete solution to support your journey to financial freedom:

1. Quick, 100% digital process so that you can apply and get funds in your account within minutes
2. Minimal documentation with only your physical PAN card needed for video KYC
3. Flexible repayment options to choose a tenure that fits your income and lifestyle
4. Competitive interest rates starting from 9.99% p.a.
5. Zero foreclosure charges if you choose to close your loan early
6. Real-time tracking so you always know your application status
7. Trusted by millions and rated among the World’s Best Banks 2025 by Forbes, in partnership with Statista

Begin the festive season with a clean financial slate and fewer worries. Apply for your FIRSTmoney personal loan by IDFC FIRST Bank today.