Frequently Asked Questions

A personal loan is an unsecured loan that can be used for a variety of personal expenses. It is typically repaid in fixed monthly installments (EMIs) over a set tenure.

Loan eligibility is generally determined by factors such as income, credit score, existing debt obligations, employment stability and the policies of the specific financial institution.

Interest rates can be influenced by your credit score, loan amount, tenure, income stability, the type of loan and prevailing market conditions.

Paying bills and EMIs on time, keeping credit utilization low, avoiding multiple loan applications in a short period, and maintaining a healthy credit mix can help improve your credit score over time.

Business funding refers to the various ways a business can raise capital, including loans, lines of credit, investor funding, and government schemes, to support operations or growth.

A commonly referenced guideline is keeping total EMI obligations within roughly 40-50% of your monthly income, though affordability also depends on your other expenses and financial goals.

Consider the total cost of borrowing, interest rate type, processing fees, prepayment charges, repayment tenure and your ability to repay comfortably.

Secured loans are backed by collateral such as property or gold, often resulting in lower interest rates. Unsecured loans do not require collateral but may carry relatively higher interest rates.