Frequently Asked Questions

For a personal loan you typically need identity proof (Aadhaar/PAN), address proof, last 3 months salary slips, 6 months bank statement, Form 16 or IT returns, and 2 passport-size photos. Self-employed applicants need business proof and 2 years ITR.

With complete documentation, personal loans are approved within 24–72 hours and disbursed in 2–4 working days. Home loans and LAP typically take 7–15 working days. Our advisors expedite the process by pre-verifying documents.

Most banks require a CIBIL score of 700+ for unsecured loans like personal and business loans. For secured loans like home loan and LAP, scores from 650+ are considered. We help improve profiles for better approvals.

Yes. Self-employed professionals, business owners and freelancers can avail loans using ITR, GST returns, bank statements and business proof. Some banks also offer loans against fixed deposits, LIC policies or property.

Fixed interest stays the same throughout the tenure, giving EMI certainty. Floating interest changes with market rates (repo rate). Floating rates are usually cheaper long term but come with EMI variability.

For floating-rate home loans and LAP taken by individuals, RBI has abolished prepayment charges. Personal, business and fixed-rate loans may attract 2–4% foreclosure charges depending on the bank.

Eligibility depends on age, monthly income, existing EMIs, employment stability, credit score, property value (for secured loans) and repayment capacity. Most banks allow EMI up to 50–60% of net monthly income.

LAP is a secured loan where you pledge residential, commercial or industrial property as collateral. It offers lower interest rates (9–11%), higher amounts (up to ₹10 Cr), and longer tenure (up to 15 years).

Yes. Balance Transfer moves your loan to another bank offering lower rates. It can save 1–3% interest and lakhs over tenure. We help evaluate savings, processing fees and switching costs before recommending.

A Top-Up loan is an additional loan on your existing home loan or LAP, at the same interest rate. It requires minimal documentation and can fund renovation, education, medical or business needs.

Not mandatory, but adding a co-applicant (spouse/parent/sibling) increases eligibility, improves approval chances, and can offer joint tax benefits under Section 24 and 80C.

Principal repayment qualifies under Section 80C (up to ₹1.5 L). Interest paid qualifies under Section 24(b) (up to ₹2 L for self-occupied). Additional ₹1.5 L under 80EEA for affordable housing.

No. Loansathi Finverse never asks for advance fees to process a loan application. Processing fees are paid directly to the bank at the time of sanction and are always disclosed upfront.

Yes. Education loans are provided based on academic profile and admission letter, with parents/guardians as co-borrowers. Loans up to ₹1.5 Cr for premier institutions with moratorium during study.

MSME loans are unsecured or lightly-secured loans for Micro, Small and Medium Enterprises to fund working capital, expansion, machinery, or business needs. Amounts up to ₹5 Cr, tenure 1–7 years.

Our advisors compare offers from 15+ banking partners across interest rate, processing fee, prepayment terms, disbursal time and eligibility fit, so you get the best possible deal for your profile.

Absolutely. We follow strict data privacy protocols, encrypted transmission, and only share your details with the bank you finally choose. Read our privacy policy for full details.

Yes. Fill our online enquiry form and an advisor will call you within 30 minutes on business hours. We collect documents online, e-sign where allowed, and coordinate with banks digitally.

Home loans are offered for up to 30 years or till the applicant reaches 70 years of age, whichever is earlier, depending on the bank's policy and applicant profile.

Yes. Used car loans are available for vehicles up to 8–10 years old at slightly higher interest rates than new car loans, with tenure up to 5–7 years.

Yes. We arrange home loans, LAP and NRE/NRO-linked financing for NRI applicants with valid documentation, income proof from abroad, and Power of Attorney where applicable.

Mortgage loan is a secured facility where residential/commercial property is mortgaged against a lump-sum or overdraft. Suitable for large business or personal expenses at low rates.

Yes. Floating-rate individual loans have no foreclosure charges. Fixed and business loans may have 2–4% foreclosure fees. Our advisors always tell you the exact terms.

A rejection is not the end. Our advisors analyse the reason (credit score, documents, income), suggest fixes, and re-apply with a suitable lender that fits your profile.

A working capital loan finances the day-to-day operations of a business — inventory, payroll, receivables — as an overdraft, cash credit or short-term loan, typically renewed annually.

Yes. Professional loans for doctors, CAs, architects and consultants have relaxed eligibility, higher amounts up to ₹75 lakh, and quick disbursement.

Personal loan rates range from 10.5% to 24% depending on credit score, employer, income and tenure. Loansathi negotiates the best possible rate from partner banks.

Yes. Our office is at 1st Floor, Above Grover Tea Stall, Main Road Gurudwara Market, Vikas Nagar, Near NFL Township, Panipat – 132103. Walk in Mon–Sat 9:30 AM – 7:00 PM.

Our head office is in Panipat but we serve customers across Haryana, Delhi NCR, Punjab and pan-India through digital processes and partner bank branches.

Once applied, you get a reference number. Call your dedicated advisor or use our contact form with the reference number and we'll share real-time status.