Consolidating debt commonwealth bank, getting on top of debt
If carefully managed, a short-term personal loan could help to ease your financial burden. You can also test out different repayment amounts and see how paying a little extra each time could help you clear your debt even faster.
We will also consider other forms of debt, so speak to us today to find out how we might be able to help. Debt consolidation is when you take all your outstanding debts and bring them together into one loan with a fixed, lower, more manageable interest rate and, in many cases, lower monthly repayments.
What is debt consolidation? Your repayments depend on how long you want to repay the loan. One option you have to consolidate your debts is to take out a single personal loan to pay off each credit card and any outstanding interest.
Our handy personal loan repayments calculator lets you calculate different repayment scenarios based on how long you take to repay your loan.
Juggling different types of debt, such as credit cards, hire purchase, overdrafts and other debt can be stressful. Consolidating those debts into just one ANZ Personal Loan can make your life easier and could save you on interest costs. You typically do this by taking out a new personal loan to repay your other existing debts, and then paying this new loan back over a set term.
How much can I save by consolidating my debts? Debt consolidation is bringing all your existing debts together into one new debt, which can help you manage your repayments and give you a clearer picture of your financial future.
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