Frequently Asked Questions
What is the eligibility criteria for a home loan? ▼
To qualify, you need stable income, good credit history, and proper documentation like ID proof, address proof, and income proof.
How much home loan can I get? ▼
The loan amount depends on your income, existing liabilities, property value, and lender policies—generally up to 75–90% of property cost.
What is the maximum tenure for a home loan? ▼
Home loans can go up to 30 years, depending on your age and repayment capacity.
Can I get a home loan for under-construction property? ▼
Yes, you can. The disbursal is made in stages based on construction progress.
What types of vehicles are eligible for a car loan? ▼
New and used cars, including hatchbacks, sedans, SUVs, and commercial vehicles are eligible, depending on lender policies.
How much down payment is required? ▼
Typically, you need to pay 10–25% of the car’s cost as a down payment.
Is it possible to get 100% car loan finance? ▼
Some banks offer 100% on-road price loans, but approval depends on your profile.
Can I prepay or foreclose my car loan? ▼
Yes, but some lenders charge a small penalty on foreclosure or prepayment.
Who can apply for a personal loan? ▼
Salaried employees, self-employed professionals, and business owners with stable income can apply
Do I need to provide collateral for a personal loan? ▼
No, personal loans are unsecured—no collateral is required.
What is the typical tenure of a personal loan? ▼
Tenure ranges from 12 to 60 months based on the loan amount and repayment capacity.
How soon can I get a personal loan disbursed? ▼
If all documents are in order, the loan can be disbursed within 24–48 hours.
What type of properties can be mortgaged for LAP? ▼
You can mortgage residential, commercial, or industrial properties.
Can I continue using my property after taking LAP? ▼
Yes, ownership and use remain with you while the lender holds a lien.
How much funding can I get against my property? ▼
Generally, you can get up to 60–75% of the property's market value.
Is co-applicant mandatory for LAP? ▼
Not mandatory, but having a co-applicant with strong financials improves eligibility.
What is a loan balance transfer? ▼
It's the process of transferring your existing loan from one lender to another for better interest rates or terms.
Can I transfer my home loan mid-tenure? ▼
Yes, balance transfer is typically done after 12 months of regular repayments.
Will balance transfer affect my credit score? ▼
If done correctly and without defaults, it has no negative impact on your credit score.
Are there any charges for balance transfer? ▼
Yes, some banks charge processing fees, stamp duty, or legal charges during the transfer.
What does a Relationship Manager do? ▼
Relationship Managers handle client interactions, provide loan consultations, and ensure smooth end-to-end service in our home loan, BT, and LAP offerings.
What are the working hours? ▼
Our office hours are from 9:30 AM to 6:30 PM, Monday through Saturday.
Is prior banking or finance experience required? ▼
Experience in financial services is preferred, especially in loans and sales, but we value passion and dedication above all.
How do I apply? ▼
Simply submit your resume via our career page or email it directly to contact@mortbuzz.in.
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