LoanCompare India is a Non-Banking Financial Company (NBFC) which helps you in availing loans of your choice by connecting you with their partner banks and financial partners based on your requirements and documents submitted by you.
Reasons why you must use LoanCompare India to avail a loan of your choice
- Integration with more than 20 companies
- More than 10,000 loans disbursed
- More than 2.5 lakh profiles matched for the availing of different loans
- More than 1 lakh satisfied customers
How to apply for a loan from LoanCompare India?
There are two steps through which you can apply for a loan from LoanCompare India:
- Visit the official website of LoanCompare India.
- Click on ‘Sign In’. You will be directed to a new page where you will have to enter your mobile number. Click on ‘Submit’.
- Enter the details such as your name, email ID, monthly salary, CIBIL score, gender, date of birth, city of residence, and the pincode.
- You will have to check either ‘Salaried’ or ‘Self-employed’ depending on whether you have a job where you work for a private or a public entity or if you own a business of your own. You will also have to provide your work email ID and select the bank in which you hold a salary account.
- Check on the boxes for the documents that you will be able to provide. Click on ‘Submit and Send OTP’.
- You will receive a One-Time Password (OTP) on your registered mobile number. Enter the OTP and click on ‘Sign-In’. Your profile has been created. You can now apply for a loan of your choice.
- Go back to the main page and select the loan product you wish to avail.
- Enter the details such as your name, email ID, mobile number, and check the boxes for the folders you can provide. Click on ‘Continue’. You will be directed to a new page where you will have to enter other important details. Click on the box stating that you agree with all the terms and conditions. Click on ‘Continue’.
- Submit the necessary documents and click on ‘Submit’. Once your documents have been processed, you will be sent a list of lenders who will be able to provide you a loan based on your profile. Click on the lender from whom you wish to avail the loan. You can use your profile to apply and also check the status of your loan.
- You can download the LoanCompare mobile app. Create a profile by entering the necessary details including your mobile number. Enter the OTP that you will receive on your phone. Once your profile has been created, you can enter the profile and compare and apply for loans.
- Select the loan product.
- You will have to enter your requirements for loans based on which you will be shown the list of lenders who will match your profile.
- Choose the lender of your choice and provide the necessary documents. Once the documents have been verified, the loan amount will be disbursed to your salary bank account.
How to compare and check the EMI on LoanCompare India?
You can compare and check the EMI for the loans provided by various lenders in India by using the EMI calculator on the LoanCompare India website and app.
- Visit the official website of LoanCompare India.
- On the main page, select the loan amount you wish to avail.
- Select the tenure, and type of employment.
- Click on ‘Apply’. You will be shown the list of lenders who will be able to provide you loan based on your profile.
- Click on ‘know more’. You will then have to sign in using your details and apply for the loan by providing the necessary documents.
- You can download the LoanCompare mobile app. Create a profile by entering the necessary details including your mobile number. Enter the OTP that you will receive on your phone.
- Select the loan product and enter your requirements. You will be shown the list of lenders who can provide you loan based on your profile. Compare the loan provided by different lenders and select the one you feel is suitable for you. Once you have selected the lender from whom you wish to avail the loan, provide the necessary documents. Once the documents have been verified, the loan amount will be disbursed to your salary bank account.
- What are the eligibility criteria I will have to fulfill in order to avail a loan via LoanCompare India?
Different lenders have different eligibility criteria. Hence, once you fill the application form, LoanCompare India will provide you the list of lenders whose eligibility criteria you might be able to match and who in return also match your loan requirements.
- What are the documents required for loan application?
At what rate of interests can I avail a personal loan through LoanCompare?
- Proof of income such as salary slip for either 3 months or 6 months based on the lender.
- Proof of Address such as Passport, Voter ID, Aadhaar Card, etc.
- Income Tax Returns
- Bank Statements
The rate of interest levied on personal loan can range between 12% and 36% and can differ from lender to lender. It is recommended that you go through the website of the lender and check the rate of interest offered by them on loan products before you avail a loan of your choice.
I have some queries regarding the loan I am looking to avail. How can I get in touch with a LoanCompare India representative?
You can visit the official webiste of LoanCompare India and click on ‘Request a call back’ option located at the top of the page. Enter the necessary details as requested and click on ‘Submit’. A representative from the company will get in touch with you assist you with your query.
How do I pay my monthly EMI?
You can pay your EMIs through Electronic Clearing System (ECS). You will have to fill an ECS form and link it to your salary or operational account. While submitting the form, you might also be required to submit post-dated cheques.