India, Sept. 30 -- A debt consolidation loan is a personal loan used for one purpose. See how it works, when to apply directly and when a matching platform suits you better.

A debt consolidation loan and a personal loan aren't two separate products. Debt consolidation is one specific use of a personal loan: clearing the debts you already have, so you pay one EMI instead of four.

So the choice in the title isn't really between two loans. It's about how you get that personal loan, who arranges it, and which route suits the debts you're carrying. This piece clears up the difference and helps you pick.

The loan itself is the same kind. What changes is the purpose, the way it's arranged and what the lender asks to see.

When the money goes ...