Frequently Asked Questions

Most banks require a minimum CIBIL score of 650 for personal loans. However, some NBFCs may consider applications with scores as low as 600, but at higher interest rates.

The loan amount depends on your income, credit score, and employer. Generally, you can get up to 20-30 times your monthly income, with a maximum of ₹50 lakhs.

Most banks provide in-principle approval within 5 minutes to 2 hours. Full approval and disbursal typically takes 24-48 hours after document verification.

Yes, most banks allow prepayment after 6-12 months. Some banks may charge a prepayment penalty of 2-5% of the outstanding amount.

Typically, you need identity proof (PAN/Aadhaar), address proof, income proof (salary slips for 3 months, bank statements for 6 months), and photographs.

A lifetime free credit card has no annual or joining fees forever. These cards are great for people who want to avoid paying fees.

Interest is calculated daily on the outstanding amount. If you pay the full bill by the due date, no interest is charged. Otherwise, interest accrues from the transaction date.

For most credit cards, the minimum monthly income requirement is ₹25,000-30,000. Premium cards may require higher income.

Yes, you can have multiple credit cards. However, each application will impact your credit score, and you need to manage all cards responsibly.

You'll be charged late payment fees (typically ₹500-1000) and interest on the outstanding amount. It may also negatively impact your credit score.

Most banks offer home loans for up to 30 years, depending on your age at the time of application.

Yes, you can transfer your home loan (balance transfer) to another bank for better interest rates or terms. This may involve processing fees.

Most banks offer up to 80-90% of the property value as loan. The remaining amount needs to be paid as down payment.

Yes, both principal and interest payments on home loans are tax deductible under various sections of the Income Tax Act.

Fixed rates remain constant throughout the tenure, while floating rates change with market conditions. Floating rates are usually lower initially.

A score above 750 is considered excellent. Scores between 700-749 are good, 650-699 are fair, and below 650 is poor.

Pay all bills on time, keep credit utilization below 30%, avoid multiple loan applications, maintain old accounts, and check your report regularly for errors.

No, checking your own score is a soft inquiry and does not affect your credit score.

CIBIL scores are typically updated every month as banks report your payment history to credit bureaus.

Yes, some NBFCs and fintech lenders offer loans to people with low scores, but at higher interest rates. You may also need a guarantor.

Yes, WishLoan is completely free for customers. We earn through commissions from partner banks when you apply through our links.

Simply compare loans on our site, choose the best option, and click "Apply". You'll be redirected to the bank's website to complete your application.

Yes, we use 256-bit encryption and never share your personal information without your consent. Your data is 100% secure with us.

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