Personal Loans
What is a Personal Loan?
A Personal Loan is an unsecured loan offered by banks and NBFCs to salaried and self-employed individuals for personal financial needs such as medical emergencies, travel, weddings, education, debt consolidation, or other expenses.
What is the minimum CIBIL score required for a Personal Loan?
Most lenders prefer a CIBIL score of 700 or above. However, some lenders may consider applications with lower scores based on overall eligibility.
What is the minimum salary required for a Personal Loan?
The minimum salary requirement varies by lender and city. Typically, salaried individuals earning ₹20,000 to ₹25,000 per month may be eligible.
How much Personal Loan can I get?
The loan amount depends on your income, repayment capacity, employer profile, and credit history. Eligible borrowers may obtain loans ranging from ₹50,000 to ₹50 Lakhs.
How long does Personal Loan approval take?
Most Personal Loan applications are processed within 24 to 72 hours after submission of complete documents.
Business Loans
What is a Business Loan?
A Business Loan provides funding for business expansion, working capital requirements, machinery purchase, inventory management, and other business-related expenses.
Is GST registration mandatory for a Business Loan?
GST registration may be required by many lenders, especially for higher loan amounts. Eligibility depends on lender policies and business profile.
Is Income Tax Return (ITR) mandatory?
Most lenders require ITRs for self-employed applicants and businesses. The number of years required may vary between lenders.
What is the maximum Business Loan amount available?
Eligible businesses may obtain funding ranging from ₹1 Lakh to several Crores depending on turnover, profitability, and lender criteria.
How long should my business be operational?
Most lenders prefer businesses that have been operational for at least 2 to 3 years.
Home Loans
What is a Home Loan?
A Home Loan helps individuals finance the purchase, construction, renovation, or extension of residential property.
What is the maximum Home Loan tenure?
Most lenders offer Home Loan tenures of up to 30 years, subject to applicant age and eligibility.
Can I transfer my existing Home Loan?
Yes. Balance transfer facilities are available with many lenders and may help reduce interest rates or improve loan terms.
What percentage of the property value can be financed?
Lenders generally finance up to 75% to 90% of the property’s market value, depending on eligibility and property type.
Are co-applicants allowed?
Yes. Spouses, parents, children, and certain family members may be added as co-applicants, subject to lender policies.
Loan Against Property (LAP)
What is a Loan Against Property?
A Loan Against Property allows borrowers to raise funds by mortgaging residential, commercial, or industrial property.
What types of properties are eligible?
Residential properties, commercial properties, office spaces, and certain industrial properties may qualify depending on lender guidelines.
What is the maximum loan amount available?
Loan eligibility depends on property value, income profile, and lender criteria. Funding can range from a few lakhs to several crores.
What is the Loan-to-Value (LTV) ratio?
Most lenders offer funding of up to 50% to 75% of the property’s market value.
Can self-employed individuals apply for LAP?
Yes. Both salaried and self-employed individuals can apply, subject to lender eligibility norms.
Education Loans
What is an Education Loan?
An Education Loan helps students finance tuition fees, living expenses, books, travel expenses, and other education-related costs.
Can I get an Education Loan for studies abroad?
Yes. Many lenders provide Education Loans for recognized institutions in India and overseas.
Is collateral required for an Education Loan?
Collateral requirements depend on the loan amount and lender policies. Smaller loans may be offered without collateral.
Can a parent be a co-borrower?
Yes. Most lenders require a parent, guardian, or sponsor to act as a co-borrower.
When does repayment begin?
Repayment generally starts after completion of the course plus a moratorium period specified by the lender.
Working Capital Loans
What is a Working Capital Loan?
A Working Capital Loan helps businesses manage daily operational expenses, inventory purchases, vendor payments, and cash flow requirements.
Who can apply for a Working Capital Loan?
Proprietorships, partnerships, private limited companies, LLPs, and other eligible business entities may apply.
How is eligibility determined?
Eligibility is based on turnover, banking history, profitability, business vintage, and lender-specific criteria.
Is collateral required?
Both secured and unsecured Working Capital solutions are available depending on lender norms.
What documents are required?
Commonly required documents include KYC, business registration documents, bank statements, GST returns, and financial statements.
GNFINX Services
Does GNFINX directly lend money?
No. GNFINX acts as a loan facilitator and financial advisory platform. We help customers connect with suitable Banks, NBFCs, and Financial Institutions.
How does GNFINX help borrowers?
We assist in lender selection, eligibility assessment, documentation guidance, application processing, and end-to-end loan support.
Are there any charges for applying through GNFINX?
Charges, if applicable, depend on the lender and product selected. Any applicable fees will be communicated transparently.
How can I track my loan application?
Customers can use the Track Application page on our website or contact our support team for updates.
How can I become a GNFINX Partner?
You can register through the Partner With Us page. Our team will review your application and guide you through the onboarding process.
Disclaimer
GNFINX acts as a loan facilitator and does not directly lend money. Loan approvals, interest rates, processing fees, tenure, and eligibility are subject to the respective Bank/NBFC policies and regulatory guidelines.