FAQs
Frequently Asked Questions about our Personal and Business Loans
Personal Loan
What is a personal loan?
A personal loan is an unsecured loan that can be used for various personal needs such as education, travel, or emergencies.
What are typical interest rates?
Interest rates vary depending on credit score and bank policies, usually between 10% to 24% per annum.
How long can I repay?
You can choose repayment tenures ranging from 12 to 60 months.
How much can I borrow?
Loan amounts depend on income and credit profile, typically from ₹50,000 to ₹25 lakhs.
Are there any processing fees?
Yes, processing fees may range between 1% to 3% of the loan amount.
Can I prepay my loan?
Yes, most lenders allow prepayment after a certain period, sometimes with small charges.
Business Loan
What is a business loan?
A business loan is financial assistance to help businesses with expansion, equipment, or working capital.
What’s the loan amount range?
Business loans typically range from ₹1 lakh to ₹50 lakhs or more depending on the lender.
What interest rates apply?
Rates vary, usually between 12% to 20% per annum depending on business stability.
What documents are needed?
Documents usually include business proof, ITR, financial statements, and identity proof.
How do I apply?
You can apply online through our website or visit the nearest branch.
Is collateral required?
Many business loans are unsecured, but higher amounts may require collateral.