Question 1

Does NeerCred lend money directly?

Accepted Answer

No. We are a Multi-Lender Marketplace (a Digital Lending Aggregator). We match you with eligible partner banks and NBFCs — they lend, not us.

Question 2

Is there any charge from NeerCred for using the platform?

Accepted Answer

No. NeerCred doesn't charge you anything to compare or apply. Any lender-side deduction or charge is disclosed by the lender in the Key Fact Statement (KFS) and loan agreement before you proceed.

Question 3

What documents are required?

Accepted Answer

Mobile number, PAN, and basic details. Full digital KYC includes Aadhaar OTP and bank verification.

Question 4

Will applying affect my credit score?

Accepted Answer

As part of reviewing your application, our lending partners check your credit score and report from bureaus like CIBIL - this may show up as an inquiry on your credit report. You'll see this called out clearly before you submit.

Question 5

What happens if I don't qualify?

Accepted Answer

You'll see exactly which requirement didn't match, and can browse other products you may qualify for or talk to support about your specific case.

Question 6

How do I track my application after I apply?

Accepted Answer

Sign in to your NeerCred dashboard any time to see every application's current status, from submitted through to disbursed.

Question 7

Is my personal data shared with anyone besides the lending partner I choose?

Accepted Answer

No. Your details are shared only with the specific lending partner(s) you choose to see offers from — never sold to third parties. You can ask to see, correct, or delete your data at any time.

Question 8

What happens if I miss an EMI payment?

Accepted Answer

Late fees are set and charged by the lender you borrowed from, not by NeerCred. Missing an EMI can also affect your credit score, so we always encourage repaying on time to help you build a stronger credit profile.

Question 9

Do all your partners lend directly, or are some platforms?

Accepted Answer

Both. We partner directly with some banks and NBFCs, and with lending platforms that themselves work with multiple banks/NBFCs to find the best-fit lender. Either way, the entity that actually evaluates and disburses your loan is always an RBI-regulated bank or NBFC.

Question 10

How much loan can I get?

Accepted Answer

Personal loans from ₹50,000 up to ₹15,00,000 depending on your income and credit profile.

Question 11

How long does approval take?

Accepted Answer

Eligibility check takes 2–5 minutes. Final approval is usually same day or within 24 hours.

Question 12

What are the interest rates?

Accepted Answer

Rates vary by lender and by your income, credit history, and loan amount. You receive multiple offers and choose the best.

Question 13

Is there a prepayment penalty?

Accepted Answer

It depends on the lender. Many partners offer zero foreclosure charges — shown in each offer.

Question 14

Can self-employed applicants apply?

Accepted Answer

Yes. Both salaried and self-employed applicants can apply — the exact documents and income proof required depend on which partner lender you're matched with.

Question 15

Is this the same application as on the NeerCred homepage?

Accepted Answer

Yes — this page and the homepage lead to the exact same Personal Loan application at /apply, using the same product details. There's no separate or different Personal Loan flow.

Question 16

Does NeerCred approve my Home Loan?

Accepted Answer

No. NeerCred matches you with partner banks/NBFCs based on the details you provide — the lender you're matched with makes the actual credit decision, not NeerCred.

Question 17

What's the difference between a Home Purchase Loan and a Construction Loan?

Accepted Answer

A Home Purchase Loan finances buying a ready or under-construction property from a builder/seller. A Construction Loan finances building a house on a plot you already own, usually released in stages as construction progresses, rather than as one lump sum.

Question 18

Can I get a Home Loan if I'm self-employed?

Accepted Answer

Yes. The application asks separately about GST registration and a business current account for self-employed and business-owner applicants, since lenders assess this profile differently from salaried applicants.

Question 19

What is LTV and why does it matter?

Accepted Answer

LTV (Loan-to-Value) is the portion of the property's value a lender will finance — the rest is your down payment. It varies by loan amount and lender, within RBI guidelines. Your matched lender shares the exact LTV that applies to your offer.

Question 20

Are there tax benefits on a Home Loan?

Accepted Answer

Home loan interest and principal repayment can potentially qualify for deductions under Sections 24(b) and 80C of the Income Tax Act, subject to applicable limits and conditions. This is general tax law, not a NeerCred benefit — confirm specifics with a tax advisor.

Question 21

Can I transfer my existing Home Loan to a new lender?

Accepted Answer

Yes, this is called a Balance Transfer, typically done to seek better terms from a new lender. It's a distinct product from a fresh Home Loan.

Question 22

Can I get a LAP if I already have a loan on the property?

Accepted Answer

The application asks whether a loan is already running on the property, and if so, its outstanding amount, interest rate, and remaining tenure — this is shared with matched lenders as part of your profile.

Question 23

Can I use a LAP for any purpose?

Accepted Answer

Generally yes — unlike a Home Loan, a LAP isn't restricted to purchasing property. Common uses include business needs, debt consolidation, education, and medical or other large expenses. Your matched lender may still ask what the funds are for as part of their own assessment.

Question 24

What's the difference between residential and commercial property LAP?

Accepted Answer

Both are generally eligible as collateral, but lenders may apply different valuation approaches and LTV limits depending on whether the pledged property is residential or commercial — the application asks for your property's pincode, city, approximate value, and age so this can be assessed.

Question 25

How is a LAP different from a Home Loan?

Accepted Answer

A Home Loan finances buying or constructing a property. A LAP lets you borrow against a property you already own, for any purpose — typically at a different LTV and structured differently, since the lender is financing against an existing asset rather than a purchase.

Question 26

Does my topup have to be with my existing home loan lender?

Accepted Answer

Not necessarily — you can share your preferred bank, and we'll match you with eligible partner lenders. The final decision on which lender to proceed with is yours.

Question 27

What happens after I submit my details?

Accepted Answer

You're matched with eligible partner lenders based on your profile and existing loan details, and you complete the rest of the application directly with the matched lender.

Question 28

Do I need a co-applicant?

Accepted Answer

Most lenders require a co-applicant (typically a parent or guardian) for an education loan, especially for students without an independent income. Your matched lender will confirm their specific requirement.

Question 29

Can I get an education loan for studying abroad?

Accepted Answer

Yes - the application asks for your course type, including a Study Abroad option, so you can be matched with lenders who finance overseas education.

Question 30

How is a Credit Line different from a Personal Loan?

Accepted Answer

A personal loan gives you a fixed lump sum upfront. A credit line gives you an approved limit you can draw from as needed, and you generally pay interest only on what you've drawn — the exact terms are set by the lender you're matched with.

Question 31

Does NeerCred issue the credit card?

Accepted Answer

No. NeerCred shows you card options from partner banks and matches you based on the details you provide — the issuing bank makes the actual approval decision.

Question 32

How is my match score calculated?

Accepted Answer

It's based on the profile details you share (like income and existing cards) against each card's typical eligibility criteria — an indication of fit, not a guarantee of approval.

Question 33

Are the fees and rewards shown accurate?

Accepted Answer

We list the issuing bank's own published fees and rewards, which can change over time. Always confirm current terms on the bank's own card page before applying.

Get a Personal Loan
up to ₹15 Lakh

Get a Personal Loan
up to ₹15 Lakh

One Platform, Every Financial Goal

How It Works

Apply Online

Get Instant Decision

Compare Offers

Complete KYC

EMI Calculator — Know Before You Borrow

Common Ways People Use NeerCred

Wedding Expenses

Medical Emergency

Business Working Capital

Higher Education

Travel & Vacation

Home Renovation

Questions? We Have Answers

Compare offers with confidence

Get a Personal Loanup to ₹15 Lakh

Get a Personal Loanup to ₹15 Lakh

One Platform, Every Financial Goal

How It Works

Apply Online

Get Instant Decision

Compare Offers

Complete KYC

EMI Calculator — Know Before You Borrow

Common Ways People Use NeerCred

Wedding Expenses

Medical Emergency

Business Working Capital

Higher Education

Travel & Vacation

Home Renovation

Questions? We Have Answers

Compare offers with confidence

Get a Personal Loan
up to ₹15 Lakh

Get a Personal Loan
up to ₹15 Lakh