General FAQ
Frequently Asked Questions
In less than a week, loan decisions are made. As soon as we decide, we will send you an SMS to your registered mobile number.
The Loan type determines rates of interest and other fees. For more details, contact us by phone or reach our branch in Coimbatore.
Easy Home Loan can help you finance up to 90% of the price of the property.
You must arrange for the balance from other sources.
You can pay the full cost of the closure in our branch. Only in your presence and after validating the KYC matches will your gold be released. There will, however, be no foreclosure charges.
Easy Home Loan reminds all of our customers of their obligations regularly and urges them to keep
sufficient funds on hand to avoid incurring additional fees. If you fail to make a timely payment,
late fees will be assessed under your gold loan contract conditions.
The procedure for transferring the balance is straightforward:
Request the papers needed to refinance your loan from your current lender.
Get the current lender's consent letter and documents and send them to the new lender.
The outstanding balance is transferred to the new lender.
The old account will be closed. Payments will be made to the new lender in the future.
The procedure will close when the previous lender hands over property paperwork to the new lender.
The following elements determine whether or not you are eligible for a loan:
Your place of employment. Every bank has a list of thousands of organizations that they have classified, such as A, B, C, and so on, based on your employer's credentials and financials. The higher the category, the better the chances of getting a loan.
You have a certain number of outstanding loans and credit cards. A bank will usually refuse to provide you with a loan if your total EMI commitment (including the present personal loan you're looking to get) is greater than 50-75 percent of your full net take-home pay.
Your gross vs. net pay
Your credit score is shown on your CIBIL or Equifax credit report. A decent credit score is a required but insufficient requirement.
CIBIL (Credit Information Bureau (India) Limited) is India's first credit information company or credit bureau.
It keeps track of all credit-related activity, including loans and credit cards, for individuals and businesses.
Registered member banks and other financial institutions send records to CIBIL on a regular (typically monthly) basis.
CIBIL generates a Credit Information Report or CIR (often referred to as a credit report) and a credit score based on
this information.Please keep in mind that CIBIL is a credit database. It has no authority to make financing decisions.
It gives data to banks and other lenders, who utilize it quickly and easily to get information.
In the loan application procedure, the CIBIL Score is quite important. After an applicant submits an
application and sends it over to the lender, the lender verifies its credit score and report.
If the credit score is low, the lender may decide not to proceed with the application and reject it immediately.
If the credit score is good, the lender will investigate the application and other factors to see if the applicant
is creditworthy. The credit score serves as a first impression for the lender; the higher the credit score, the
more likely the loan will be reviewed and authorized.
The CIBIL credit score is a number that runs from 0 to 900. CIBIL Score -1 indicates that you have no credit history. The closer you go to 900, the more confident the credit institution is in your capacity to repay the loan, and thus the greater your chances of having your application granted. A credit score of 700 or higher is regarded as good, and 750 or more is considered excellent.
Depending on your preferences and loan sanctioning circumstances, you can choose a tenor ranging from 12 to 60 months.
The Lender will deface and retain any Post Dated Cheques (PDCs)/Security Cheques presented for
loan repayment that have not been cashed. If you want your old Post Dated Cheques (PDCs)/ Security
Cheques returned to you, please get in touch with the Easy Home Loan by phone or email.
If everything is in order, you can expect approval and disbursement between 2 to 5 working days after submitting your application form and supporting documentation according to the Bank/standards. NDFC's The Lender has complete authority over all loan approvals.
Here are some of the reasons why our Personal Loan is ideal for you:
Payment of the loan on time
There is no requirement for collateral or security.
There is very minimal documentation.
Many repayment alternatives and flexible EMI plans.
You can take a combined loan with your spouse or parent if you require a Personal Loan but have a low CIBIL score. Personal Loans, on the other hand, are approved based on your ability to repay.