Frequently Asked Questions
We've compiled a list of frequently asked questions to provide you with quick and helpful answers. If you have a question that is not addressed below
Following documents are required for availing a business loan: Business proof KYC documents of the company KYC documents of the business owners Photo Identity Proof (Aadhar card/ Driving license/ Voter ID/ Passport) Last six months company bank statements GST Certificate Last two years Income Tax Returns Last two years Balance sheet and Profit & Loss accounts A report with detailed information about how the candidate will utilize the business loan
Your CIBIL score is a crucial factor that plays an important role in your loan process and sanctions.
Once your application is submitted along with your documents, it can take anywhere between 1-7 days for your business loan to get approved and a couple of days after that for the disbursement.
Commonly, the required CIBIL score for a Business Loan is 650 or more.
Usually, the required credit score for a Business Loan is 650 or more.
With Trymyloan's Business Portal, you can apply for a Business Loan in our Partnered NBFCs.
The following people are eligible to apply for an Instant Business Loan: Age should be between 21 to 65 years. CIBIL score must be 700 or more. The candidate should own a business at least profitable for three successive financial years. The business turnover must display an upward trend. Your balance sheet must be audited by a registered Chartered Accountant (CA).
You can use that money for any business expense like business expansion, boost production, buying new machinery, etc.
A business loan is an unsecured credit you can avail to meet your urgent business requirements. Business loans allow you to usher in funds for your enterprise to expand your business.
CIBIL Score Income Proof & Stability Age of the loan applicant
A personal loan can be taken to effectively pay back the educational loan or any sort of loan or debt.
Yes, you can apply for a personal loan in our NBFC Partners by buying our Premium Membership.
Yes, only if you use your personal loan amount for certain purposes like investing in a business, buying a residential property, investing in other assets, etc.
Your CIBIL score is a crucial factor that plays an important role in your loan process and sanctions.
Once your application is submitted along with your documents, it can take anywhere between 1-7 days for your personal loan to get approved and a couple of days after that for the disbursement. The final loan approval/sanction depends on the NBFCs’ criteria and the customer profile.
Commonly, the required CIBIL score for a Personal Loan is 650 or more.
With Trymyloan's Personal Portal, people can apply for a Personal Loan in our Partnered NBFCs.
The following people are eligible to apply for an Instant Personal Loan: Individuals between 21 and 60 years of age. Individuals who have had a job for at least 1 year. Employees of private limited companies, employees from public sector undertakings, including central, state and local bodies. Those who earn a minimum of Rs. 15,000/- net income per month.
Personal Loans can be used for any personal expense, like Shopping, Home Renovation, Higher Education, Debt Consolidation, Tour Travel, Wedding, Medical emergency, etc.
A personal loan is an unsecured loan, which means you don't need to pledge collateral to receive funds. You can use the money for any personal expense.
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