Frequently Asked Questions

You can apply for a loan in just 5 easy steps:

1. Click on "Apply Now" and select your loan type
2. Fill in your personal and contact details
3. Provide employment and income information
4. Upload required documents (Aadhaar, PAN, salary slips)
5. Review and submit your application

You'll receive instant confirmation via email and SMS.

Required documents include:

• Identity Proof: Aadhaar Card, PAN Card
• Address Proof: Utility bills, rental agreement
• Income Proof: Last 3 months salary slips, Form 16, ITR
• Bank Statements: Last 6 months statement
• Photograph: Passport size photo

Our instant loan approval process timeline:

• Application Submission: Immediate confirmation
• Document Verification: 30-60 minutes
• Credit Assessment: 1-2 hours
• Final Approval: Within 24 hours
• Loan Disbursal: 24-48 hours after approval

Note: Timeline may vary based on document verification and CIBIL score.

For Salaried Individuals:

• Age: 21-65 years
• Minimum Salary: ₹15,000/month
• Work Experience: 1 year in current job
• CIBIL Score: 650 or above (750+ preferred)

For Self-Employed:

• Age: 25-70 years
• Business Vintage: 2 years minimum
• Minimum Income: ₹25,000/month profit
• CIBIL Score: 650 or above

While a CIBIL score of 750+ is preferred for best interest rates, we do consider applications with scores as low as 650 on a case-by-case basis.

Options with low CIBIL:

• Higher interest rates may apply
• Lower loan amounts may be approved
• May require a co-applicant or guarantor
• Shorter loan tenure might be offered

We recommend improving your credit score before applying for better terms.

Interest rates vary based on loan type and your profile:

• Personal Loan: 10.5% - 24% p.a.
• Home Loan: 8.5% - 12% p.a.
• Business Loan: 12% - 28% p.a.
• Gold Loan: 9% - 18% p.a.
• Education Loan: 9.5% - 15% p.a.

Your final rate depends on CIBIL score, income, loan amount, and tenure.

No hidden charges! All fees are clearly mentioned:

• Processing Fee: 1-3% of loan amount (one-time)
• GST: 18% on processing fee
• Prepayment Charges: Nil to 5% (varies by lender)
• Late Payment Fee: ₹500-1000 per missed EMI
• Bounce Charges: ₹500 per failed auto-debit

You'll see complete fee breakup before accepting the loan offer.

Maximum loan amount depends on your income and loan type:

• Personal Loan: Up to ₹25 lakhs (20x monthly salary)
• Home Loan: Up to ₹2 crore
• Business Loan: Up to ₹50 lakhs
• Education Loan: Up to ₹1 crore

Final approval is subject to income verification and credit assessment.

Yes! You can prepay your loan partially or fully at any time.

• Partial Prepayment: Pay extra towards principal (minimum ₹5000)
• Full Prepayment: Close the loan completely
• Prepayment Charges: 0-5% depending on lender and loan type

Benefits of Prepayment:

• Reduce total interest burden
• Improve CIBIL score
• Become debt-free faster

Absolutely! We use bank-grade security:

• 256-bit SSL encryption for data transmission
• AES-256 encryption for document storage
• ISO 27001 certified data centers
• RBI-compliant data protection
• Regular security audits

Your data is NEVER shared with unauthorized parties. Read our Privacy Policy for details.

After submitting your application, you'll receive:

• Application Number: Unique reference ID
• Email Updates: Every status change notification
• SMS Alerts: Real-time progress updates
• Dashboard Access: Login to check detailed status

You can also call our customer support at +91-1234567890 for status updates.

If your application is rejected, you'll receive an email explaining the reason:

• Low CIBIL score
• Insufficient income
• Incomplete documentation
• Existing high debt burden
• Employment instability

What you can do:

• Improve your credit score
• Reduce existing EMIs
• Wait 3-6 months and reapply
• Try with a co-applicant
• Apply for a lower amount

We're here to help!

• Email: support@loantime.com
• Phone: +91-1234567890 (Mon-Sat, 9 AM - 7 PM)
• WhatsApp: +91-1234567890
• Contact Form: Submit inquiry

Average response time: Within 2 hours during business hours