Frequently Asked Questions (FAQs) for Personal Loan
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WHAT IS A PERSONAL LOAN?
A personal loan is an unsecured loan for your financial needs like medical emergencies, planning a holiday or a wedding, purchasing a consumer durable or meeting an unexpected cash flow need. Loan ticket sizes range from Rs 50,000 to Rs 5 lakhs.
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WHAT ARE THE DOCUMENTS REQUIRED TO AVAIL A
PERSONAL LOAN?
The documents required are KYC Documents + Income Documentation.
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WHAT IS THE TENURE FOR WHICH I CAN AVAIL A
PERSONAL LOAN?
12,24,36,48,60 months
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HOW DO I PAY BACK THE LOAN?
Once your loan is approved, and disbursed, you will be required to pay back the loan in Equal Monthly Installments (EMI), which will be automatically debited from your bank account via ACH.
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WHAT IS THE MINIMUM AND MAXIMUM AMOUNT OF
PERSONAL LOAN THAT I CAN GET?
Minimum Rs. 50,000 to Rs. 5,00,000. However, the actual loan amount eligibility will be calculated based on your income and other parameters.
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DO I HAVE TO PAY ANY CHARGES FOR PERSONAL LOAN?
A processing fee is levied on loan basis as per the defined pricing matrix followed by us.
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HOW DO I KEEP TRACK OF MY PERSONAL LOAN? FOR
EXAMPLE, HOW DO I GET MY STATEMENTS, AND REPAYMENT SCHEDULE?
You may place a request for Statement of Account or Repayment Schedule in either of the following ways:
By calling our Call Centre.
By using your registered email id to write to us
Alternately you can get all the details by downloading our app. -
CAN I FORECLOSE OR PREPAY MY PERSONAL LOAN?
Yes, you can prepay the entire loan outstanding anytime during the loan tenure after 6th instalment, subject to payment of standard pre-closure charges applicable as per the agreement. No part prepayment is allowed.
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CAN MY APPLICATION BE REJECTED?
If you are a genuine borrower with a bad credit score and no intention of fraudulent activity along with no-fixed income source / dependable income than it might get rejected.
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HOW WILL THE LOAN BE DISBURSED?
Post approval, your loan amount will be transferred digitally to your bank account.
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WHAT HAPPENS IF I MISS AN EMI PAYMENT?
You will have to pay a bounce fee, and a late payment penalty. Your credit history may also be impacted, and as such this is not something you should plan to do. If there are genuine circumstances, such as loss of job or other emergency, then please call us in advance so that we can re-structure your loan to fit the circumstances.
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WHAT ARE MY OPTIONS FOR MAKING MY EMI
PAYMENTS?
You need to repay your EMI through National Automated Clearing House (NACH), your EMIs will be debited automatically at the end of monthly cycle on your emi due date through your bank account.
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DO YOU OFFER BALANCE TRANSFER FACILITY IN
PERSONAL LOAN?
We offer Balance Transfer for your existing loan as well as Credit card outstanding subject to meeting our policy norms.
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IS THERE ANY SECURITY OR GUARANTOR REQUIRED
FOR AVAILING PERSONAL LOAN?
No. We do not require any collateral or security guarantee.
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