Loansbazaar.com

Loan FAQs

Popular Questions

1) How can LoansBazaar helps in getting best deal on personal, mortgage and business loans? 2) How to get easy loan on LoansBazaar? 3) What is the eligible personal loan amount for salaried applicants? 4) What is the eligible personal loan amount for self-employed applicants? 5) Does LoansBazaar charge levies services charge? 6) How do you ensure my privacy and security of my personal information? 7) What types of credit cards LoansBazaar offer via banks to choose? 8) Can I avail Silver, Gold and Classic or Executive credit cards? 9) What is the minimum salary criterion to apply for credit card? 10)How beneficial is mortgage loan when compared to other type of loans? 11)What is the eligibility to get mortgage loan? 12)What is the loan amount I can expect from mortgage loan? 13) Do I have choice to choose among fixed or floating interest rate? 14) Who determines the value of my asset or property? 15) Can I foreclose mortgage loan? 16) What is the maximum business loan amount banks offer? 17) Who are eligible for business loans? 18) What details should I have to provide for applying business loan? 19) Can I choose the bank for business loan? 20) Does loan calculator help me in every aspect? 21) How do I know my eligibility?

FAQs

1) How can LoansBazaar helps in getting best deal on personal, mortgage and business loans?

We create an opportunity for you to compare the loan offers from different banks, and we negotiate on behalf of you to help you get the best interest rates.

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2) How to get easy loan on LoansBazaar?

Simply make use of our eligibility calculator online, compare the offered loans and interest rate from different banks in association with us, fill your electronic application with appropriate details and our approval team will contact you with current status through SMS alerts and email.

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3) What is the eligible personal loan amount for salaried applicants?

You can borrow any loan amount that is within your repaying capability, however in banking terms you will be offered with EMI up to 40% of your monthly salary take home.

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4) What is the eligible personal loan amount for self-employed applicants?

The Loan amount will be determined on the basis of profit. Long tenure would lower EMI in order to ease the repayment for self-employed applicants. The approval of loan is decided on the factors such as your good credit history, own residence, locality of your residence, business you are running.

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5) Does LoansBazaar charge levies services charge?

No. Our service is free of charges.

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6) How do you ensure my privacy and security of my personal information?

We never share any of our applicant's information with third party except the financial institution of banks for which you decide for applying. We use advanced technologies that ensures securing data in a safe and secured environment.

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7) What types of credit cards LoansBazaar offer via banks to choose?

We offer Master Card, Amex and Visa Credit cards that are accessible in India

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8) Can I avail Silver, Gold and Classic or Executive credit cards?

Yes, but the level of services differs with each cards

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9) What is the minimum salary criterion to apply for credit card?

It depends and differs with the type of credit cards you are applying. For instance: For an applicant getting about 75,000 per annum salary would get a regular credit card whereas for those getting over 1 lac as annual income would get gold card.

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10) How beneficial is mortgage loan when compared to other type of loans?

Mortgage loans can be got for less interest rate when compared to personal loan which has high interest rate. This is the quickest choice of loan to meet any emergencies right on time.

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11) What is the eligibility to get mortgage loan?

Anyone can easily get mortgage loan, however the person must be over 21 years and be employed with regular income to repay the loan amount.

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12) What is the loan amount I can expect from mortgage loan?

The loan amount depends on the type of property you choose to mortgage and its current market value. Some banks offer from 40% to 60% of loan amount on the current market value.

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13) Do I have choice to choose among fixed or floating interest rate?

You can choose any interest rate, fixed or floating against the property you are going to mortgage.

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14) Who determines the value of my asset or property?

The bank that you choose to opt loan from determines the loan amount and interest rate.

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15) Can I foreclose mortgage loan?

Yes, you need to approach the bank that lent you loan and issue a cheque for the pending loan amount and on clearance of cheque the bank will return the documents or assets that you have mortgaged.

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16) What is the maximum business loan amount banks offer?

We help you get from minimum of Rs.50, 000 to maximum Rs.1 Crore from the banks towards your business loan.

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17) Who are eligible for business loans?

Partnership enterprises, Private Limited companies and Proprietors can apply for business loans.

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18) What details should I have to provide for applying business loan?

You need to provide details about business deed, company information, tax details, partnership details, credit/return/profit details, and bank account statements for last 6 months and other essential documents.

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19) Can I choose the bank for business loan?

Yes, LoansBazaar gives you the opportunity to choose any bank from which you want the loan and we proceed accordingly to help you get loan approved successfully.

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20) Does loan calculator help me in every aspect?

Yes, our loan calculator will benefit you primarily in comparing the interest rates and loan amount offered by different banks, on which basis you can proceed further to apply for your loan.

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21) How do I know my eligibility?

Make use of our eligibility calculator by simply filling in the details. You will instantly get your eligibility status with which you can proceed further.

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