Loans Enquiry

Currently, Angel One is offering personal loans via its lending partners to a select group of existing users only. We will gradually be rolling out the product to more users. Stay tuned for updates!

The amount you can borrow depends on your profile. Currently, the maximum loan amount offered is Rs 5 Lakhs.

When applying for a personal loan, you may need to submit the following documents:

• Aadhaar and PAN for KYC approval
• Bank account details for cash disbursal
• Selfie and signature for user identification

No, this option is not available currently.

Once you go to the loans tab on our Angel One platform, you will see the loan application form there. Please note: Only Angel One eligible customers will see the loans tab on our platform.

No, we do not allow joint loan applications.

No, we only disburse personal loans to Indian citizens currently residing in India.

No, we only disburse personal loans to Indian citizens currently residing in India.

No, we do not permit using collateral for availing personal loans.

The interest rate and applicable EMIs are shown to you during the loan application process before you avail the loan.

NACH/eNACH Mandate is a repayment service that automates monthly recurring payments, such as loan EMIs. This setup ensures that:

1. Your monthly EMIs are automatically collected from your bank account on the due date.
2. You don’t miss any EMI payments, helping you maintain a good credit history.
3. It simplifies the repayment process, saving you time and effort.

Yes, applying for a personal loan online offers several advantages:

1. Convenience: You can apply from anywhere with just a few clicks.
2. Quick Processing: Submit necessary documents online and get money in your account within the same day.
3. Seamless Experience: The entire process is smooth and efficient, saving you time and effort.

No, there are no special offers for women or senior citizens. However, if you have a good history with Angel One, we may provide attractive offers to you.

No, prepayment is not allowed for personal loans at the moment.

No, you cannot change your EMI due date once the loan is approved and disbursed.

No, there is no option to change the EMI date currently.

Once your loan application is approved, the loan amount will be disbursed to your registered bank account within 24 hours.

No, there is no balance transfer option available for personal loans currently.

The loan tenure at Angel One varies based on the customer’s profile. We thoroughly assess each user’s profile to determine the most suitable tenure.

The processing fee depends on your profile and will be specified during the application process.

You can track your loan application under the ‘Loans’ tab in the Angel One app. All necessary details for verification, tracking, and managing your loan will be available there.

No, you do not need to provide collateral for a personal loan.

Our lending partners charge a fixed interest rate for personal loans. This means your EMI amount remains the same every month throughout the loan tenure.

All applicable charges are clearly shown in the Loan Agreement, Sanction Letter, and Key Fact Statement (KFS). Please read these documents carefully while accepting the loan terms and conditions during the application process. There are no hidden fees.

You can use the personal loan amount at your discretion, including paying off other loans. However, it is crucial to use the loan for legal purposes and ensure timely repayment to avoid any serious actions against you.

We check your CIBIL score to determine your eligibility for a personal loan.

There is no lock-in period for foreclosure. You can initiate foreclosure through the app.

Foreclosure charges, or full prepayment charges, depend on the lender. Specific details will be provided by your lender.

No, we are still working on that product.

Yes, foreclosure charges will be levied. These charges vary depending on factors such as the loan amount and tenure. The charges tend to be higher if you choose to close your loan earlier.

Credit Report: A credit report is a detailed record of your credit history and financial behaviour. It includes information about:

1. Your credit accounts
2. Payment history
3. Outstanding debts
4. Inquiries made by lenders

Credit Score: A credit score is a numerical representation of your creditworthiness based on the information in your credit report.

Your credit score is influenced by several factors:

1. Payment History: Consistency in repaying debts on time.
2. Credit Utilisation: The ratio of your current credit card balances to your credit limits.
3. Length of Credit History: The duration of your credit accounts.
4. Types of Credit: A mix of different types of credit accounts (e.g., credit cards, loans).
5. Recent Credit Inquiries: Number of recent applications for new credit.

1. Settlement:

• Occurs when you negotiate with a creditor to pay less than the full amount owed.
• It resolves the debt but is noted on your credit report.
• Can negatively impact your credit score.

2. Default:

• • Happens when you fail to make required payments on time, breaching the loan agreement.
  • Significantly harms your credit score.
  • May lead to legal actions or collections.

3. Closed:

• • Refers to an account that has been fully paid off and is no longer active.
  • Can affect the length of your credit history, which is a factor in credit scoring.

All three terms can impact your credit score:

• Settlements and defaults: Negatively impact your score.
• Closed accounts: Indirectly influence your score by affecting the length of your credit history.

The Annual Percentage Rate (APR) represents the overall annual cost of a loan as a percentage. It includes the interest rate and additional charges like processing fees. APR provides a clear understanding of the true borrowing cost, helping you comprehend your actual loan expenditure.