1. What is the minimum and maximum loan amount I can apply for as a first-time customer?
For first-time applicants, loans range from ₹2,500 to ₹10,000, subject to eligibility and application outcome.
2. What is the maximum repayment tenure available?
The maximum repayment period currently offered is up to 180 days (6 months).
3. Can I apply for a loan of ₹4 lakh or higher?
At present, loans up to ₹4 lakh are not available. Loan limits increase gradually based on repayment history and eligibility.
4. Do you provide loans with a tenure of 36 months (3 years)?
No, currently the maximum tenure is up to 180 days. Longer tenures may be offered in the future to eligible repeat customers.
5. How can I become eligible for a higher loan amount in the future?
Timely repayment of your existing loan(s) improves your eligibility and may allow you to access higher amounts and longer tenures in subsequent applications.
6. When can I apply for another loan after repayment?
Once you successfully repay your active loan, you can reapply. Your new loan eligibility will depend on your repayment history and profile.
7. Are there any income requirements for first-time applicants?
Yes, applicants must meet the minimum income requirements as per internal policies. The exact amount may vary based on your application and underwriting checks.
8. Can I increase my loan amount after approval?
No, the loan amount cannot be increased once approved. However, you may be eligible for a higher loan amount on your next application after successful repayment.
9. Will my credit score affect my loan eligibility?
Yes, your credit profile is one of the key factors in determining your loan eligibility and approved amount.
10. How will I know if I am eligible for a higher loan?
You will be notified within the app/portal after successful repayment if you qualify for higher amounts or longer repayment periods.
11. Is there a prepayment option?
Yes, you can repay your loan early. Doing so may positively impact your eligibility for higher amounts in future applications.
12. Do repeat customers always get higher amounts automatically?
Not always. Loan eligibility depends on repayment behavior, income, credit profile, and internal policies.