1. Why am I being offered ₹10,000 when I only need ₹1,500?
The loan amount offered is determined by our system based on your eligibility, repayment history, credit profile, and internal credit policies. Currently, the minimum eligible loan available to you is ₹10,000.
2. Can I choose a smaller loan amount than what is offered?
At present, the loan amount cannot be customized. You can only avail the loan amount displayed in your approved offer.
3. Why can’t the loan amount be modified?
The system calculates eligibility automatically using multiple factors (such as credit score, repayment history, and risk assessment). As a result, the offered amount cannot be manually reduced or increased.
4. Will taking a higher loan than I need affect me negatively?
Not necessarily. You can always choose not to use the entire loan amount. However, interest will be charged on the full disbursed amount, so we recommend borrowing only if you are comfortable repaying.
5. Can I partially withdraw from the approved loan amount?
No, once disbursed, the entire approved loan amount is credited to your account. Partial disbursal is not available.
6. Can I reject the ₹10,000 loan offer if I don’t need that much?
Yes, you may choose not to avail the loan if the offered amount does not meet your requirement.
7. Will rejecting this loan offer affect my future eligibility?
No, rejecting the offer will not negatively impact your credit profile or future loan eligibility.
8. Can I reapply for ₹1,500 later?
Currently, the system-determined minimum for your profile is ₹10,000. You may recheck your eligibility in the future, as offers are refreshed from time to time based on your profile.
9. How often are loan offers updated?
Loan offers are dynamic and may be updated periodically depending on your repayment history, credit score, and internal policy reviews.
10. Can providing feedback help change my eligibility?
Customer feedback is valuable and helps us work towards introducing more flexible loan amounts in the future. However, eligibility is system-driven and cannot be changed instantly.
11. Will my CIBIL score improve if I do not take this loan?
Your CIBIL score is not impacted by simply rejecting or not availing a loan offer. It only reflects actual borrowings and repayments.
12. If I take ₹10,000, can I repay early to reduce interest?
Yes, you can choose to repay early (foreclose or prepay) as per your loan agreement, which can help reduce the interest burden.