LOANKARTS: Empowering Your Finances - Terms & Conditions for Hassle-Free Loans at Best Interest Rates
1. Introduction
Welcome to Loankarts! We are a Direct Selling Agent (DSA) partnering with leading banks and NBFCs to offer you a range of loan options, including personal loans, business loans, used car loans, home loans, and loans against property. Our mission is to simplify the loan process and connect you with the best interest rates available, all with zero additional charges from Loankarts. By applying for a loan through our platform, you acknowledge and agree to these Terms & Conditions.
2. Loan Eligibility Criteria and Terms & Conditions
To be eligible for a loan, applicants must generally meet the following criteria:
- Age Requirement: 21 to 60 years (varies based on loan type)
- Employment Status: Salaried employee, self-employed individual, or business owner
- Credit Score: A strong credit history may be required (subject to bank approval)
- Income Proof: Salary slips, Income Tax Returns (ITR), or bank statements
- KYC Documents: PAN card, Aadhaar card, and address proof
Meeting these eligibility criteria does not guarantee loan approval. The final loan approval decision rests solely with the partnered bank or NBFC.
3. Loan Application & Approval - Terms & Conditions
3.1 Loan Application Process
- Submit accurate personal and financial details through our platform.
- Provide all necessary supporting documents for verification.
3.2 Verification & Approval
- The partnered bank or NBFC will verify your details, credit score, and financial standing.
- The final decision for loan approval rests solely with the respective financial institution.
- Upon approval, you will receive a loan agreement detailing interest rates, tenure, and repayment terms.
4. Types of Loans We Offer
We offer a variety of loan products tailored to your specific financial needs:
4.1 Personal Loan
For salaried and self-employed individuals to meet personal expenses.
Interest Rate: Starting at 10.25% per annum (Terms and Conditions Apply)
- The 10.25% interest rate is applicable only when the following conditions are met: Loan amount should be ₹10 Lakhs. CIBIL score is 780 or above. The employer falls under the ‘A’ or prime company category. Monthly salary is ₹50,000 or higher.
- For customers who do not meet these criteria, the interest rate will start from 11% or higher, depending on their profile and eligibility.
4.2 Business Loan
For entrepreneurs and businesses to manage capital or expansion costs.
Interest Rate: Starting at 14% per annum (Terms and Conditions Apply)
- The 14% interest rate is applicable only when the following conditions are met: CIBIL score is 750 or above. Annual turnover exceeds ₹10 Crores. The loan application is processed under the Net Profit Program. Loan amount is greater than ₹30 Lakhs.
- For customers who do not meet these criteria, the interest rate will start from 16% or higher, depending on their profile and eligibility.
4.3 Used Car Loan
To finance the purchase of pre-owned vehicles.
Interest Rate: Starting from 13% (Terms and Conditions Apply)
- The 13% interest rate is applicable only for customers with a CIBIL score of 800 or above and sufficient income as per eligibility criteria.
- For customers who do not meet these criteria, the interest rate will start from 14% or higher, based on their profile and financial background.
4.4 Home Loan
Interest Rate: Starting from 8.30% (Terms and Conditions Apply)
- The 8.30% interest rate is applicable only for customers with a CIBIL score of 800 or above.
- For customers with a CIBIL score below 800 or based on their profile, the interest rate may start from 8.40% or higher, depending on the eligibility and financial background.
4.5 Loan Against Property
Get a loan by mortgaging your property.
Interest Rate: Starting from 9.10% (Terms and Conditions Apply)
- The 9.10% interest rate is applicable only for customers with a CIBIL score of 800 or above.
- For customers with a CIBIL score below 800 or based on their profile, the interest rate may start from 9.25% or higher, depending on their eligibility and financial background.
All loan rates and tenures are subject to bank policies and customer creditworthiness.
5. Loan Disbursement: Terms & Conditions
- After approval, the loan amount is directly transferred to your registered bank account.
- The disbursement time depends on documentation verification and bank processing time.
6. Repayment Terms & Late Payment Policy
- Timely repayment is mandatory as per the agreed EMI schedule.
- Modes of repayment: Auto-debit, online bank transfer, or post-dated cheques.
- Late payments may attract penalties as per the bank’s terms.
- Failure to repay EMIs can negatively impact your credit score and future loan eligibility.
7. No Hidden Charges – 100% Transparency
- Zero Processing Fees from Loankarts
- No Upfront or Hidden Costs
- All Fees Are as per Bank Policies (Banks may charge processing fees, prepayment penalties, or foreclosure charges)
8.Privacy & Data Security: Terms & Conditions
- Customer data confidentiality is our priority.
- Your personal information will not be misused or shared without your consent.
- All loan processing follows RBI guidelines to ensure secure transactions.
9. Disclaimer
- Loankarts is a DSA and not a bank or financial institution.
- We only facilitate the loan process by connecting customers with partnered banks and NBFCs.
- Loan approval, amount, tenure, and interest rate are solely at the discretion of the lending institution.
- We do not guarantee loan approvals or specific terms, as all loans are subject to the lender’s policies.
10. Contact Us
- Call/WhatsApp: [+91 88515 65759]
- Email: [Docs@Loankarts.com]
- Website: [www.Loankarts.in]
Apply today and get the best loan offers with zero extra charges from Loankarts!
