It’s time to realize all your dreams! Finserv MARKETS brings to you a plethora of loan options to help you fulfill your financial needs. Finserv MARKETS connects you with multiple lending partners across India, so that you choose the loan as per your requirement. With a variety of lending products, ranging from a Personal Loan to Home Loan, your dreams need not wait anymore. So, apply for a loan today!
Finserv MARKETS helps you choose from a diverse range of lending products. You also get to compare various loan offers by the best of the lending partners. So, you are indeed spoilt for choice!
There's no tedious paperwork involved. Your application is approved within minutes and money gets disbursed in no time.
We are proud to deliver on our promise to more than 100 million customers. Our reliable interface helps the lending partners reach out to people all across India and provides the best lending experience.
When opting for a loan, do keep in mind that the application process varies from product to product. What is mentioned below is just a general overview of the steps involved when applying for a loan on Finserv MARKETS. Given that we’re completely online, here’s how you can apply for a loan on our platform –
Having zeroed in on the type of loan you wish to avail (basis your need) all that you need to do is visit our website and fill in an online loan application form. You will need to provide your personal and employment details here and support this by uploading the relevant documents. Wondering what personal details you’d be asked to furnish? Well, this includes –
The documents mentioned above are required across all loan types. You will need to furnish additional documents when availing a home loan, a home loan balance transfer, a loan against property, a loan against property transfer, 2 & 3-wheeler finance and a used car loan.
After you enter the personal and employment details, you can select the loan offer from a list of lending partners. At Finserv MARKETS, you get the loan offers from some of the best lending institutions. So, make a choice and you can move ahead in the journey of the loan application.
This included mentioning the loan amount you wish to apply for and choosing your repayment tenure. At Finserv MARKETS, you can avail a personal loan to the tune of up to Rs. 25 Lakhs while with home loans and a loan against property, the upper limit is 3.5 crore. When it comes to repayment, customers enjoy the freedom of choosing their own tenure. With personal loans, the repayment tenure ranges between 12 – 60 months. For home loans and loan against property, this could go up to 300 months or 20 years.
Upon successfully uploading your documents and stating your loan requirements, the lender will conduct a thorough check. This includes a check on your CIBIL score and verifying the documents provided. Once satisfied, the loan application is approved and the sanctioned amount disbursed to the bank account of the customer. The time taken for verification, approval and disbursal varies from product to product. For instance, a personal loan could be approved in a day given that there’s not much documentation involved and neither does the borrower have to provide any collateral. On the other hand, a home loan application takes much more time to get approved as the process involves inspection of the property and verification of all related documents.
This is an important pointer as it helps determine whether you will have to make a down payment or provide collateral. If you are looking for instant financial help, a personal loan is what you should apply for. These are unsecured loans – no collateral or guarantor is required. If you plan on buying a home or desire to send your child to study abroad, a home loan or a loan against property is the right way to go. These are secured loans – one must provide collateral when availing such loans. In addition to this, you can also apply for a home loan balance transfer or a loan against property balance transfer if the interest rate you currently pay is way too high.
The online loan you apply for comes with a host of charges that you ought to be aware of, before signing that dotted line. From processing fees to foreclosure charges, from missed EMI penalties to part-prepayment charges, it is important that you apply for a loan with the knowledge about the charges you might incur. At Finserv MARKETS there are no hidden charges to worry about ensuring complete transparency and quick loan process.
Your repayment tenure depends on the type of loan you apply for. Personal loans (unsecured loans) usually come with a 12- 60 months repayment tenure. However, as a customer you get to choose your tenure. As for home loans or a loan against property, repayment tenures could go up to 300 months or 20 years. So why is this important? Well, your repayment capacity and loan tenure go hand in hand. Basis your capacity to repay, you can choose an EMI tenure without affecting the way you live.
Consider it sacrilege if you apply for loans in India without checking your credit score! As a matter of fact, most financial advisors will direct you to check your CIBIL when you apply for a loan. Why is this important? Well, your credit score determines whether the bank or lender will approve or reject your loan application. Your credit score is a 3-digit number that could range between 300 – 900. The higher your score, the better your chances of having your loan application approved. Moreover, this allows you to negotiate with your lender in terms of getting a good interest rate on your loan. Banks usually consider 700 and above as a good score.
Your credit rating isn’t the only parameter that determines the outcome of your loan application. There are several criteria applicable and to have your loan approved you need to meet these parameters. Some of these parameters include your age, the city you reside in, your monthly salary and your credit history. However, do keep in mind that such parameters vary from lender to lender and thus you need be sure about your eligibility before applying. In addition to this, having your documents in place is imperative to ensure a smooth application process.
Read more to know details about types of loans
As concerns regarding the true impact of the pandemic on India’s lenders have emerged, troubled shadow banks have taken a step backward since their initial signs of recovery. For the first time in four months, lenders saw their average spreads rise on their five-year bonds with AAA ratings this September. The health of the shadow bank sector, however, is determined by two other factors. Both outstanding debt and the liquidity of the banking system — crucial markers — weakened. Share performance, on the other hand, stayed the same throughout. These outcomes were preceded by months of improvement after the unprecedented stimulus for the central bank as well as targeted support offered to the banking industry. Loan fears have resurfaced with authorities attempting to cushion India’s economy from the fallout since the pandemic.
Loans that do not require the borrower to provide any collateral or a guarantor are categorized as unsecured lending. Typically, personal loans fall into this categorization. Due to this reason, interest rates on unsecured loans are quite high.
Depending on the type of loan, there is different criteria to be met. However, there are certain basic criteria such as –
A friend suggested that I opt for loans to cover expenses for my home renovation. So, I applied for a loan through the Finserv MARKETS app. I was impressed by the different types of loans available in the app. I am satisfied with the service provided to me.
Posted on 10 Jan 20
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Posted on 17 Feb 20
The EMI calculator provided by Finserv MARKETS was quite helpful to get estimated amounts payable on loans. It’s best to check with the EMIs when you get a loan. The complete loan process was quite simple and easy. Thank you.
Posted on 22 Feb 20
I came across the Finserv MARKETS app that offered a variety of loans. The loan eligibility was simple and the online verification of documents and getting application approval was hassle-free, it helped me a lot in getting the finances I required at the right time.
Posted on 07 Mar 20
With the help of Finserv MARKETS online loans I was able to cover my son's wedding expenses like catering services, hall booking, decorations required and many more. I was impressed by the quick and hassle-free process they offer for loans.
Posted on 30 Mar 20