Frequently Asked Questions - Personal Loan
Frequently Asked Questions
Find answers to all your queries related to Personal Loan ranging from application procedure to eligibility criteria, interest rates, and documents required.
How can I apply for a Personal Loan?
Applying for a loan through the FinMarket is a simple process. All you need to do is fill in the requested information on our online application form and click ‘submit’. Based on your requirements we bring you customized offers and products to choose from. Once you select the product and provide the necessary documents, our lenders approve your loan and the funds are disbursed directly to your bank account.
Can I take a Top-up on existing Personal Loans?
Yes, you can take top-up on an existing personal loan if you have paid 12 EMIs on the existing personal loan. You can place the request for a top-up on existing personal loans through the following channels.
Customer Care:
You may also call our Customer Care number 1800 572 2132. (10:00 a.m. to 6:30 p.m.).
What is a Personal Loan EMI Calculator?
Personal loan EMI calculators allow you to estimate your monthly installments and interest rate with ease. Use the personal loan calculator* as a guide to estimate loan tenure and amount before applying for a personal loan.
3 factors used for calculating the personal loan are as follows:
- Loan Amount
- Loan Amount
- Loan Amount
How to calculate the monthly payment for Personal Loans?
Calculating the monthly payment or EMI (Equated Monthly Installment) is a complex job. In order to calculate the EMI, you need to be aware of the personal loan amount, the tenure of the loan in months, and the interest rate that is to be charged on the loan. These details have to be applied in the following formula to arrive at the EMI:
EMI= [P x R x (1+R) ^ N]/ (1+R) ^ N - 1]
Here, P = Principal (amount borrowed as a loan), R = Rate of interest levied (monthly rate), N = Repayment term of the loan, otherwise called the tenure (in months).
Can I apply for a personal loan without producing any security or collateral documents?
Yes, a personal loan does not require any collateral or security such as property, shares or gold.
What are the minimum and maximum loan amounts to apply for a personal loan?
You can avail of loans ranging from Rs 1,00,000/- to Rs 30,00,000/- depending on your eligibility, income and repayment capacity.
Will I have to visit a bank to get a Personal Loan?
No, you do not have to visit the bank to apply for a personal loan. You can simply visit our website www.finmaket.in and apply online. Once you fill the form you will receive a call from our loan specialists to get further information about your requirements and check your eligibility criteria. If all the requirements are fulfilled we will provide you with the loan.
I have a question which is not listed here; what do I need to do?
Our loan specialists are here to help you, please feel free to contact our customer representative at 1800 572 2132. If you have a more pressing matter to discuss, feel free to visit our branches.
How long do I have to be employed to get a personal loan?
You need to have work experience of at least 2 years. This varies from lender to lender.
Is my Data Safe with Finmarket.in?
FinMarket strongly committed for protecting the privacy of its customers and has taken necessary and reasonable measures consistent with best industry practices to protect the sensitivity and confidentiality of your information and it shall not be held liable for disclosure of SI when done in accordance with this Privacy Policy or pursuant to terms of the Terms of Use of this Website.