What's a personal loan?
Personal loan is a short term loan that aims to help
you in case of out of the blue circumstances where
in you are burdened with out of pocket expenses.
Such loans usually come with fixed rates, fixed
monthly payment and no collateral.
What purpose does a personal loan serve?
A personal could help you in paying high interest rates
Of credit cards, refinance debt payments, house
Renovation or shifting, medical bills, weddings, utilities or food
How will I be eligible for the loan?
You need to be above 18 years of age and a resident
of India with an income of at least Rs 15000/- per
month. A good CIBIL score is a plus point.
What happens if am not able to repay the full amount?
The monthly interest payments are duly deducted from
your bank account. The following day after the loan
repayment is due, we send our executive to your place
To collect whatever part payment you could give and write-off rest of the amount. This could lead to a poor credit
score for your future borrowing needs.
What the difference between a loan origination fee and an application fee?
The application fee is simply an amount asked by some brokers or lenders during the application process and before the approval of the loan funds. While the origination fee is a basic percentage amount of your loan, charged only after approval of your loan.
At Loanwalle, you dont have to worry about any extra fees charged on applying for a loan. We only ask for a nominal charge after your funds are transferred to your account post verification!