$2,000 - $30,000 unsecured
Money in your account within a day
Simple, 100% online process
Repaying a personal loan in one instalment on a weekly, fortnightly, or monthly basis makes it easier to manage. This eliminates the need to worry about making multiple payments throughout the month.
With a debt consolidation loan from Nectar your interest rate and repayment amount is fixed for the life of the loan. You’ll know exactly what your repayments are and how many of them you’ll need to make in order to pay off your loan.
Apply online today and get your personalised loan quote.
Select the amount and payment option that suits you.
If approved, we aim to have the funds in your account the same day as your contract being signed online.
$2,000 - $30,000
$1.75 admin fee per repayment
11.95% - 29.95%
6 months - 5 years
A debt consolidation loan allows you to combine multiple debts into a single personal loan. Instead of juggling several loan repayments each month, each with different interest rates and amounts to repay, you will only have a single monthly payment to budget for. The most frequently consolidated debts are personal loans, credit cards, auto loans or car loans, and Buy now, Pay later balances.
Merging all your debt into a single loan doesn't reduce your total debt. This consolidation approach simplifies the management of your debt, and can reduce your total interest payments.
We consider both your financial and personal circumstances when evaluating your quote or loan application from Nectar. This is similar to all personal loans provided by Nectar.
An integral part of the process requires us to ask for the details of all your current loans. If you agree to Nectar's loan quote, including the interest rate and repayment terms, we will settle the loans and debts specified in your loan agreement. This might cover all your debts or only some of them, contingent upon the approved maximum loan limit.
Managing your Nectar personal loan is easy. Borrowers can access the borrower portal to view their loan balance, upcoming repayment dates, and the repayment amounts due.
Debt consolidation loans can offer several benefits including:
No early repayment fees: provides the flexibility to repay the loan faster, if your circumstances permit, without incurring additional charges. This can significantly reduce the total interest cost over the life of the loan, thus making debt management more cost-effective and efficient.
Simplifying finances: Combining all your debt into one loan reduces the number of payments you need to manage. This simplifies your finances and makes monthly payments more straightforward.
Lower interest rate: Debt consolidation loans often carry lower interest rates than credit cards or other types of loans. This could potentially save you a significant amount of money over the life of your loan.
Fixed repayment schedule: With a debt consolidation loan, you’ll know exactly when your debt will be paid off. The repayment schedule is fixed, which can provide a clear roadmap to becoming debt-free.
Lower monthly payments: Debt consolidation can help you secure lower monthly payments. This can be beneficial if you are on a tight budget.
Avoid late payment fees: It is easier to remember and plan for a single loan payment. This reduces the chance of missing a payment and being charged late fees.
Improved credit score: Debt consolidation can improve your credit score if managed correctly. This demonstrates that you are taking action to manage and reduce your debt. Over time, this may have a positive effect on your credit score.
Mental relief: Consolidating debt can reduce the stress and anxiety that comes with managing multiple debts, contributing to improved mental wellbeing.
Yes. There is no early repayment fee.
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