Both types of loan may look similar at first glance — the bank lends you money and you repay it in instalments. The difference lies in the purpose and how they work.
A personal loan is a loan for any purpose — holiday, home renovation, appliances. You decide how to spend the money. The bank assesses your creditworthiness based on income and credit history.
A consolidation loan combines several existing debts (credits, loans, credit cards) into one instalment. The aim is to lower the monthly payment and simplify repayment. Often comes with a longer repayment period.
Use the BankSorter comparison tool — filter by amount, term and APR. We display the total cost of credit so you can make a real comparison.