Questions, answered plainly
If something here is unclear, or your question is not covered, tell us and we will answer it — and add it to this page.
No. We are a comparison and referral platform. We show you loan offers from banks and NBFCs regulated by the Reserve Bank of India, and if you choose one we hand you over to that lender to complete the application. The lender assesses you, sets your rate, makes the final decision and pays out the money. We never lend, never disburse and never collect repayments.
No. Comparing offers on Loan24x7 does not involve a credit check, so it leaves no mark on your credit report. A lender may run a hard check once you apply with them directly — they will tell you before they do.
Nothing. You never pay us a fee of any kind. We are paid by our lending partners when a referral from us results in a loan being taken. That is the only way we make money, and it is why the service is free for you.
Sometimes. Several lenders will accept bank statements that show your salary being credited regularly, instead of a payslip. If you are self-employed, lenders typically look at bank statements and income tax returns instead. Tell us your employment type in the form and we will only show partners whose documentation rules you can meet.
Often yes, but it narrows your options and usually raises your rate. Some of our partners lend to people with thin or impaired credit files; others have a firm minimum score. When you tell us your score band — including "I do not know" — we filter to the partners who could realistically approve you rather than showing you offers you would be declined for.
That depends on your monthly income, your existing EMI commitments and the lender’s own ceiling. As a rough guide, most lenders will not let your total monthly EMIs exceed about half your take-home pay. Our matching applies that affordability rule for you, which is why the amount we show may be lower than the amount you asked for.
It varies by lender, from a few hours to several working days, and it depends on how quickly you complete their verification and document checks. Each offer card shows that partner’s typical disbursal time so you can weigh speed against cost before you choose.
The lender sets the list, but it is usually proof of identity, proof of address, and proof of income — bank statements, and payslips or income tax returns depending on how you earn. You complete that step on the lender’s own platform, not here.
No. We do not collect your Aadhaar number in any form — not in a field, not as an upload, not in our database. Lenders carry out their own KYC on their own platforms under their own regulatory obligations. Anyone claiming to be us and asking you for an Aadhaar number, an OTP or a payment is not us; please report it to us.
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