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FAQ's

What is Loan Studio?

Loan Studio is a loan provider and aggregator aiming to be a one-stop financial solution and simplify the process of taking loans online & offline by connecting loan seekers and loan givers (Banks and NBFCs). We ensure end to end services including application, documentation, bank follow-ups, approvals, and disbursements.

What can I get from Loan Studio?

Presently, Loan Studio provides a diverse range of loan products including home loans, car loans, mortgage loans and a range of business loans which includes loans against property, machinery loans, and business loans. Loan Studio also provides you with educational blogs, tools and application process updates for an overall better experience.

Should I go for a loan?

A loan will allow you to borrow money from a bank, or other non-banking source with certain interest rates. Number of reasons exists for taking a loan to meet your fund requirements.
  • Loan for your new business
  • Education loan
  • Debt consolidation
  • Purchasing a car or a real estate
  • Paying off debts

How to apply for a loan via Loan Studio?

Get an approved loan in 3 easy steps through Loan Studio.
  • Enter your business & personal information to get started.
  • Link your business data by providing with required documents along with application form and we will provide you with as much as we can.
  • Once approved, provide us with your preferred bank account and we will transfer your funds immediately.

Why should I apply on Loan Studio?

Loan studio aims at providing holistic solutions to its clients and offering par excellence services. Here are few intentions to look out for while applying for a loan:
  • Say goodbye to paperwork!
  • Just by entering few basic criteria, you can compare a variety of loan offers from different banks using our customer-centric algorithm.
  • We assure convenient and tailor-made loan offers to you with a range of banks and NBFCs to choose from.
  • Transparency to compare work, prices, etc.
  • Constant & effective backend support to all clients.

Is my data secured with Loan Studio?

Loan Studio handles all your sensitive data carefully as the security of your information is an utmost priority for us. We constantly work to ensure 100% security of your information.

Who do I contact to for customer support?

You can call on +91 7222812345 or fill contact form on www.loanstudio.in or write to us on [email protected] to get in touch with us

What if my application gets rejected?

Most probably, this will not happen but if your application gets rejected, then we will look out for options to fix whatever limitations that may have led to your rejection.

What points should I keep in mind while opting for a home loan?

  • Eligibility for the loan amount
  • Processing fee
  • Interest rates and EMIs
  • Purpose

How can I compare loans from different banks?

If you are eligible for the selected loan, you will get access to customized quotes from a number of loan providers. You canbrowse, compare interest rates, EMIs, repayment charges, and processing fee, and make an informed decision and avail best deals.

What are the eligibility criteria to avail a home loan?

The following are the criteria banks consider to determine your potential to repay the loan:
  • Age
  • Purpose of the loan
  • Your income
  • Assets and liabilities
  • Your co-applicant’s income, in case you are applying for a joint loan
  • Qualifications
  • Employment and professional experience
  • Credit score and history (good credit score means greater chances ofloan approval)
  • Residential status
  • Number of dependents

What are the tenure options that I can choose for a home loan?

Tenure period for a home loan varies between 5 and 25 years as per the lender and eligibility of the customer.

What is the maximum loan amount that I can avail?

In most cases, you are eligible to borrow 75-80% of the cost of the property, which depends on your income also.

What is processing fee?

Banks or financial institutes charge you for processing your application. This charge is generally fixed or a percentage of the loan amount.

What is EMI?

You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by means of EMI begins from the following month in which you take full disbursement.

Can I transfer my loan multiple times?

You can change your lender multiple times, in case it helps to reduce your loan burden. However, too much shifting is not advisable as it mark negative impact on your credit history. Also, one of the other reasons is that banks charge certain fee on loan transfers.

How many loans can I take simultaneously if I already have an on-going Home Loan?

You can simultaneously apply for other loans, including car loans and personal loans, while you are re-paying a home loan. However, banks will thoroughly examine your repayment capability before issuing any other loan.

Who can apply as co-applicants?

  • Your spouse
  • Any of your blood relative or immediate family members
  • Also, a co-owner has to be necessarily a co-applicant in the loan

What is a monthly reducing balance?

An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged reduces every month. This results in significant savings for the customer over the tenure of the loan. Many lenders charge interest rates on monthly reducing basis.

What security/collateral one needs to provide?

Banks usually ask for any immovable property that is owned by the applicant for security. The applicant's title to the property should be clear, marketable and free from any duty. Banks also request your long term investments to be provided as security. They may include your life Insurance policies, shares/units or any other security held suitable by the bank.

Can I take loan to but a property in any other city in India?

Yes. Banks do provide you loan to buy property in any city other than your hometown, if proper documents are provided.

What is Balance Transfer?

It is a facility to transfer your existing loan to a new lender at attractive interest rates.

What is fixed and floating interest rate?

When you avail a loan with fixed interest rate, it will remain same throughout the tenure irrespective of market performance. While as with floating interest rates, the market fluctuations will determine the change in rates.

How to apply for a personal loan?

One can apply for a personal loan either online or by visiting our office. By filling up a brief form, you will receive an approval message and we will match your requirements with the available options. One of our customer expert executive will contact you and process your application further and will guide you with the necessary documents required.
You can also contact us at +91 72228 12345 to clear all your queries.

How much should I borrow while taking a personal loan?

Preferably, you should borrow as much as you can repay without any setback. One should be aware of the fact that the EMI of the loan should not exceed the applicant’s monthly income.

How much loan amount can be issued in case of a personal loan?

One can avail a personal loan in the range of ₹15,000 to ₹10 Lakh.

What are the tenure options that I can choose for a home loan?

One can choose a loan tenure ranging from minimum 12 months to a maximum of 5 years.

How can I receive the amount in my account?

The amount will be credited automatically to your bank account once the application is approved.

Is a guarantor necessary?

Generally not, but some lenders ask you for a guarantor. You can always contact us on +91 72228 12345 for more details.

What is a Credit History?

It basically records your repayment of past loans and credit card bills. The Credit Bureau of India Limited (CIBIL) maintains your credit history and it is important that you have a good credit score if you wish to avail a loan without any hassle.

Which vehicles or automobiles are eligible for a car loan?

Most of the passenger cars, SUVs (sports utility vehicle) and MUVs (multi utility vehicle) can be purchased with the help of a car loan. If you still need more information related to this, you can ask our experts by calling us at +91 72228 12345.

Should I have to provide any collateral while availing a car loan?

In case of a car loan, your car acts as a security to secure your loan. Other than that, no collateral is required.
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