What is Debt consolidation plan?

Debt consolidation plans help to simplify personal finance by combining all of your personal loans and credit card debts into one fixed monthly repayment. Under debt consolidation plan Singapore, banks issue additional loan on lesser interest rates to enable you to repay entire amount in once fixed monthly installments. Each debt consolidation loan has their own set of interest rates and features and seekers must compare plans of various banks before finally accepting one.

Debt consolidation plan is usually taken by people for long or short term basis. Maybank under debt consolidation plan offers loans to Singapore citizens having annual income of $30,000 to $120,000 for Tenures of 1-10 years at lower interest rates with attractive complimentary credit card with 1x credit limit of applicant’s salary.

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