FAQ's

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What is a personal loan?

A personal loan is an unsecured loan provided by banks or financial institutions to meet various personal financial needs, such as medical emergencies, travel, home renovation, or debt consolidation. Since it doesn’t require collateral, it is based on your credit score and income.

How much loan amount can I get?

What is the interest rate on a personal loan?

Interest rates typically range from 8% to 24% per annum, depending on factors like your credit score, income, and the lender. A better credit profile often results in lower interest rates.

What documents are required to apply for a personal loan?

You’ll typically need:

• Identity proof (Aadhaar, PAN, Passport)

• Address proof (Utility bills, rent agreement)

• Income proof (Salary slips, bank statements, ITR)

How quickly can I get a personal loan?

Many lenders offer instant approval with disbursal within 24-72 hours, especially if the process is online and your documents are in order.

For more details, consult our support team.

What is a business loan?

A business loan is financial assistance provided to businesses to meet various needs, such as expansion, working capital, purchasing equipment, or managing cash flow. It can be secured (requires collateral) or unsecured (based on creditworthiness).

How much loan amount can I avail for my business?

The loan amount depends on factors such as your business turnover, credit score, repayment capacity, and lender policies. Typically, business loans range from ₹50,000 to ₹5 crore or more, depending on your eligibility.

What are the interest rates for business loans?

Interest rates usually range from 9% to 24% per annum, varying based on the loan amount, tenure, collateral, and the borrower’s credit profile. Lenders may offer lower rates for secured loans.

What documents are required to apply for a business loan?

Commonly required documents include:

• Business registration proof (GST certificate, Udyam registration)

• Financial statements (Balance sheet, profit & loss statement)

• Bank statements (6-12 months)

• Identity and address proof of the owner(s)

How long does it take to get a business loan?

Loan approval and disbursal can take 3-10 working days, depending on the lender and the completeness of your documentation.

For specific queries, contact our support team.

What is a home loan?

A home loan is a secured loan offered by banks or financial institutions to help individuals purchase, construct, or renovate a house. The property itself serves as collateral until the loan is fully repaid.

How much home loan can I get?

The loan amount depends on your income, repayment capacity, and the property value. Typically, lenders offer up to 75%-90% of the property’s market value. The exact amount will vary based on your eligibility.

What is the interest rate on a home loan?

Home loan interest rates usually range from 6.5% to 9% per annum, depending on the lender, loan amount, tenure, and your credit score. Fixed and floating interest rate options are available.

What documents are required for a home loan?

Required documents include:

• Identity and address proof (Aadhaar, PAN, Passport)

• Income proof (Salary slips, ITR, bank statements)

• Property documents (Sale agreement, title deed)

• Employment proof or business registration (for self-employed applicants)

How long does it take to get a home loan approved?

The approval process can take 7-15 working days, depending on the completeness of your documents and the lender’s verification process.

For detailed assistance, reach out to our support team.

What is a Demat account, and why is it needed for a personal & Business, Home loan?

A Demat account is a digital account that stores securities like stocks, bonds, and mutual funds electronically. In some cases, lenders require a Demat account for loan processing to assess your investment profile or provide additional financial benefits.

Can I get a Online loan without opening a Demat account?

Yes, Many loans do not always require a Demat account. However, if the loan offer is tied to a Demat account opening, it is essential to complete the account setup to qualify for the loan.

What are the benefits of linking a Demat account with a loan Application?

• Streamlined loan processing as lenders can verify your financial standing.

• Access to investment opportunities through the Demat account.

• Some lenders may offer preferential loan terms or lower interest rates.

How do open Demat account While Applying Loan Application through Next FinCorp ?

• Step 1: Choose a Depository Participant (DP) or broker that supports Demat account opening.

• Step 2: Submit required documents like PAN, Aadhaar, address proof, and income proof.

• Step 3: Complete the Know Your Customer (KYC) process online.

• Step 4: Verify your identity through in-person or video verification.
  Once approved, your Demat account will be Activated then Our Team will send your Loan Application for further Process.

How long does it take to open a Demat account and approve the loan?

The Demat account opening process typically takes 1–3 working days. Personal loan processing and disbursal may take an additional 2–5 working days, depending on the lender’s verification process.

Are there any charges for opening a Demat account?

Demat account fees vary, including account opening and annual maintenance charges. However, we often waive these fees when you open a Demat account as part of loan application.

The loan amount depends on your income, credit history, and the lender’s policies. Generally, personal loans range from ₹10,000 to ₹5 lakh. Your eligibility will be assessed during the application process.

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