Struggling with multiple loans and high monthly commitments? Debt consolidation lets you combine credit cards, personal loans and other expensive debts into one housing loan package, usually at a lower interest rate and a single monthly instalment.
What is Debt Consolidation
Debt consolidation means using a new or refinanced housing loan to pay off your other debts. Instead of paying different banks and finance companies at different rates, you service only one loan, usually at a lower housing loan rate.
This can reduce your total monthly commitments and make your cash flow more manageable.
When is debt consolidation useful
You may consider debt consolidation if you:
Have high interest credit card or personal loan balances
Are paying many different instalments every month
Want to clean up your CCRIS profile over time
Need a clearer, more structured repayment plan
It is still important to control spending and avoid building up new debts after consolidation.
How Quantify AI helps
Quantify AI helps you simulate different consolidation scenarios, for example:
Refinance only your housing loan
Refinance plus consolidate selected debts
Refinance and keep your current instalment to shorten tenure and reduce total interest
Our AI analysis will show the estimated change in monthly commitments and the total interest impact, so you can decide if consolidation is really beneficial for you.
Use our guided calculator to explore your debt consolidation options and request a free, no obligation AI analysis.
