Final Up to date on Mar 18, 2025 by Harshit Singh
Inquisitive about private loans? This weblog solutions the commonest queries about private loans, overlaying eligibility, rates of interest, reimbursement, and extra that can assist you make knowledgeable borrowing choices.
In case you don’t discover your query right here or need extra data, you’ll be able to attain out to us at assist@tickertape.in.
Q1: Who can get a private mortgage?
Your eligibility is determined by elements like credit score rating, credit score historical past, and monetary stability, as decided by our lending companions.
Q2: Do I want collateral for a private mortgage?
No, private loans on Tickertape don’t require any collateral.
Q3: Will taking a private mortgage have an effect on my credit score rating?
Beginning the appliance gained’t affect your credit score rating. Nonetheless, as soon as you’re taking the mortgage, well timed EMI funds can enhance your rating, whereas missed funds can decrease it.
This autumn: How a lot mortgage can I get?
You possibly can borrow between ₹50,000 and ₹5 lakh, relying in your eligibility.
Q5: What’s the rate of interest on private loans on Tickertape?
The rate of interest is set by the lender primarily based on elements reminiscent of your credit score profile and monetary historical past. Tickertape offers enticing rates of interest, beginning at simply 15%.
Q6: What’s the mortgage tenure?
Mortgage tenure ranges from 1 to 4 years. The minimal tenure is 12 months, however you’ll be able to prepay after the primary EMI with out additional fees.
Q.7 What are the assorted fees and charges included in a private mortgage?
Right here is the checklist of fees and charges –
| Kind of Price | Relevant Expenses |
| Processing Price | 2% of mortgage quantity |
| Late Fee of EMI (after bounced EMI) | Penal Curiosity @ 2% per 30 days |
| Bounce Expenses (for failed EMI) | ₹750 per bounce |
| Foreclosures Expenses | NIL |
Q8: What are the advantages of mortgage insurance coverage?
Mortgage insurance coverage covers your EMIs in case of unexpected occasions like hospitalisation, incapacity, or unintended dying. It may possibly cowl as much as 3 EMIs for hospitalisation and the complete mortgage quantity for unintended dying or incapacity.
Q9: Why don’t I’ve a mortgage supply on Tickertape?
Mortgage provides are rolled out steadily primarily based on eligibility checks carried out by the lender. You’ll be notified when one is obtainable.
Q10: Who offers the mortgage?
Loans are offered via Tickertape’s partnership with Aditya Birla Finance Ltd.
Q11: What number of loans can I take at a time?
You possibly can take just one private mortgage at a time.
