Help Center
Frequently Asked Questions
Find answers to common questions about loans and our services. Can't find what you need? Contact us.
General
What is LoanUstad?
LoanUstad is a loan facilitation platform that connects borrowers with the best lenders in India. We help you compare offers from multiple banks and NBFCs to find the most suitable loan for your needs.
Is LoanUstad a lender?
No. LoanUstad is a loan facilitation service. We connect you with verified banks and financial institutions. All loans are provided by our partner lenders.
Is LoanUstad free to use?
Yes, our loan consultation and comparison services are completely free. You only pay when you choose a loan and the lender charges their standard processing fee.
Which cities do you serve?
We currently serve customers across all major cities in India including Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Kolkata, and many more.
Eligibility & Documents
What is the minimum credit score required?
We recommend a CIBIL score of 750+ for the best rates. However, we consider applications with scores as low as 650 depending on the loan type.
What documents do I need?
Basic documents include PAN Card, Aadhaar, address proof, income proof (salary slips or ITR), and bank statements. Specific requirements vary by loan type.
Can self-employed individuals apply?
Yes. Self-employed individuals, business owners, and professionals can apply. You will need to provide business financials, ITR, and bank statements.
Process & Timeline
How long does loan approval take?
Most loans are approved within 24–48 hours after document submission. Complex cases like home loans may take 7–10 working days.
Can I prepay my loan?
Yes, most loans allow prepayment. Some lenders may charge a prepayment fee, which we will explain clearly during the application process.
What happens after I submit the form?
Our loan expert will contact you within 24 hours to understand your requirements, verify details, and present the best available offers.
Rates & Fees
What are the interest rates?
Rates vary by loan type: Home Loans from 7.15%, Education Loans from 8.5%, LAP from 9%, MSME from 11%, Business Loans from 12% p.a. Final rates depend on your profile.
Are there any hidden charges?
No. We believe in complete transparency. All fees including processing charges, prepayment penalties, and other costs are disclosed upfront.
What is the processing fee?
Processing fees vary by loan type: Home Loans 0.1%–0.5%, LAP 0.5%–1%, Business Loans 1%–3%, Education Loans 1%, MSME 1%–2% of the loan amount.
Still have questions?
Our team is available Mon–Sat, 9AM–7PM to help you.