Customer Frequently Asked Question & Answers

By seeing "personal loan" name , it defines borrowing money for personal use and other expenses like marriage, travel or medical emergency etc from banks

There are two types of personal loans, unsecured and secured.

An unsecured personal loan is one where no asset needs to be offered as collateral. An asset can be a house or a car or some other asset. A secured loan is offered with a prime security being offered to the lender, just opposite of the pre-requisite of an unsecured personal loan.

Personal loan interest rates are calculated and allocated according to the customer's salary. The rates are also based on the borrowed amount and any other criteria as per the lender’s credit policy.

Applying for a Personal Loan is very easy for you: Complete an online enquiry form with some basic details and the lenders will take it forward from there.

Eligibility depends on various factors which may differ for each bank. The main factor is your financial capability to repay the loan. This would include your income.

Personal loan is a short-term loan. Most of the banks provide personal loans for a maximum of three years. In some cases, the loan tenure can go up to five years.

Your loan eligibility may depend on a variety of factors. The lender tries to ensure that the instalment amount is not more than 30% to 40% of your net salary or 2 to 3 times of your income tax return.

The major fees for personal loans are in the form of interest payments. However, there are some other charges including processing fees for the loan and charges for pre-payment, should you wish to close your loan earlier than the agreed tenure.

Disbursal of your loan should be between two and seven working days.

Yes, your spouse can be the co-borrower for your personal loan. If your spouse is working, the loan amount sanctioned can be higher.

At the time of applying for the loan, the lender will ask you to submit post-dated cheques for the EMI payable every month. The more common option is to sign an ECS (Electronic Clearing System) so that the EMI can be electronically debited from your bank account without you having to furnish cheques for every EMI payable.

You can start the process of applying for a Personal Loan in any of the following ways: You can apply for a personal loan using any of the methods given below.

  • By applying for the loan online.
  • By visiting our Bangalore office personally.
  • By calling us on 080-41494439.
  • By emailing us at

We can get you a personal loan between Rs. 1 lakh and Rs. 15 lakhs. There are certain factors that we consider when deciding on your loan amount.

  • Your requirement and eligibility
  • Your income
  • Your repayment capability

You may repay your Personal Loan using any of the following three ways.

Standing Instruction: You can use this if you have a savings, salary, or current account with the lending bank. Even if you don’t have an existing account, you can open a savings account with the lending bank. The EMI will be automatically debited from the account on a specific date every month, which you will be told about when your loan is sanctioned.

Electronic Clearing Service: This is the mode of repayment that can be used if you have a bank account. The EMIs will be automatically debited from the account on a specific date every month, which you will be told about when your loan is sanctioned.

Post-Dated Cheques (PDCs): This is the mode of repayment that can be used if you want to issue post-dated EMI cheques from your bank to lender.

Before adopting a foreclosure, all your outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your Personal Loan. This can be done by requesting for a foreclosure statement from your lender.

Please request foreclosure notice once you have cleared all outstanding and we will process your request at the earliest.

We finance most of the passenger cars and multi-utility vehicles manufactured by leading Indian automobile companies.

Yes. After 6 months with a minimal fee.

Considering Rs. 1,00,000 as the minimum loan amount. Upto 90% could be taken.

No, but if your income does not meet our credit criteria then you may be required to furnish the details of a guarantor. The guarantor will act as a surety for your car loan.

Generally we process them within 48 hours of completing the loan documentation.