SIB Power CONSOL

Simplify Multiple Loans into One

Managing multiple loans with different lenders, due dates, and interest rates can be challenging. SIB Power CONSOL is a fully secured term loan designed to help you consolidate multiple existing debts into a single loan, with a manageable EMI resulting in increased cashflow.

Whether you have retail loans such as housing loans, car loans, consumer loans, personal loans, or other EMI-based borrowings, SIB Power CONSOL allows eligible resident individuals to bring them together under one structured repayment plan.

SIB Power CONSOL

Why Debt Consolidation?

Debt consolidation brings order to your finances by combining multiple EMIs into one manageable EMI, removing the hassle of managing multiple due dates and interest rates. A single, manageable EMI can ease monthly cash flow, reduce overall interest by consolidating high-interest loans into a lower-rate loan, and support better credit health through structured repayment. Consolidating unsecured loans into a secured loan can also positively impact your credit score.

Debt Consolidation Made Simple - Combine multiple existing loans into a single, fully secured term loan.
Wide Loan Coverage - Consolidation of eligible secured and unsecured term loans from Banks, NBFCs, HFCs, and other FIs which are reported in the Credit bureau.
Loan Eligibility - Loan amount starting from Rs. 10 lakh and up to Rs. 3 crore.
Attractive Loan Tenure - Up to 360 months for Home Loan Balance Transfer and up to 180 months for other loans.
Joint Consolidation Facility - Option to consolidate debts of applicant and spouse under a single loan.
Simplified Repayment - Single monthly repayment, for easier loan management.

Applicant Type	o Salaried Resident Individuals (NRIs excluded) o Self Employed Professionals (SEP) - Doctors, Certified Accounting Professionals, Architects and Company Secretaries only
Age	o Minimum: 30 years o Maximum: 55 years
Loan Tenure	o Salaried: Up to retirement age o SEP: Up to 70 years
Eligible Loans for Consolidation	o Any EMI-based term loan (secured or unsecured) o Loans must be reported in the credit bureau
Collateral	o Residential or commercial built up property only
Co-Borrower / Guarantor	o Spouse as co-borrower (for joint consolidation) o Spouse (married) or parent(s) (unmarried) as guarantor
Banking & Credit Requirements	o Minimum monthly credit summation of 150% of proposed EMI in the last 6 months in the operative account o No inward cheque bounces in the last 6 months

Processing Fee	NIL
Administration Charge	Rs. 10,000/- per property
Penal Charges	As per extant bank guidelines
Prepayment / Pre-closure Charges	As per extant guidelines
Commitment Charges	NIL
Other Applicable Charges:	• ECS / NACH / Cheque bounce charges: Rs. 750/- + GST • ECS / NACH swap charges: Rs. 500/- + GST