FAQS

Frequently Asked Questions

How can I apply for loan with Aasaan Credits?

There are multiple ways to apply for loans with us. You can apply directly from our website by giving your details and documents. Our loan application engine expedites the process of disbursal when applied online. You can also request a call back through our website, our experts will help you with the application.

What types of loans can I avail from Aasaan Credits?

You can avail loans for any purpose be it a wedding, travelling, buying household goods, gifting, business, paying hospital bills, education fees etc. We have categorised all your needs into five categories i.e. Aasaan Money (Small personal loans for salaried and business people), Business PLUS (only for small and medium-size businesses), AnyTime Salary (Only for salaried professionals), Swasthya Dhan (Health Loans) and Shiksha Dhan (Education Loans)

UP TO WHAT AMOUNT CAN I GET THE LOAN FROM AASAAN CREDITS?

You can get up to Rs. 10 Lacs instantly based on your income and obligations.

Is Aasaan credits Pvt Ltd a Bank or NBFC?

Aasaan Credits is a brand name of SFIPL (Shivji Finance and Investments Pvt Ltd) a Non-Banking Financial Company registered with Reserve Bank of India. All Aasaan Credits loans are issued by SFIPL.

How much time will it take to get the loan approval from Aasaan Credits?

Our processes and systems are designed to approve the applications in less than an hour. However, in some cases it can take up to 48 hours.

FOR WHAT PURPOSES CAN I GET THE LOAN?

We don’t have any policy which controls the usage of money. It’s up to you how you want to spend it.

HOW MUCH EMI (EQUATED MONTHLY INSTALMENTS) DO I NEED TO PAY FOR MY LOAN?

Your EMIs are calculated based on your loan amount and the tenor. At Aasaan Credits we calculate the EMIs on the reducing balance method where interest is calculated every month on the outstanding loan balance only and not on the whole loan amount. EMI payment every month comprises interest payable for the outstanding loan amount for the month plus principal repayment. On every EMI payment, outstanding loan amount reduces by the amount of principal repayment.

How does the loan EMI get calculated?

Loan EMI gets calculated from the universal formula on reducing basis.

Do I need to pay any processing charges to avail the loan?

There is a processing fee of 2% for availing the loan. Processing fee will be deducted from the disbursal amount. You don’t need to pay anything until the loan is disbursed.

FOR HOW LONG CAN I GET THE LOAN?

You can choose the loan tenor for a minimum of 1 month to a maximum of 36 months.

How will I pay back my EMIs?

Before we disburse the loan amount, you sign the NACH (National Automated Clearing House ) mandate with us. Based on the mandate our bank will automatically deduct the EMI amount from your bank account on the due date every month.

What if there is a NACH bounce from my bank account?

The bank will levy certain bounce charges/penalties. In addition, it will get reported in your credit report. Depending on the severity of the default, it can have a serious impact on your future credit possibilities like home loan, car loan etc.

Can I foreclose my loan?

Yes, you can always choose to close your loan account with us.

I have not taken any loans in the past, due to this I don’t have any credit history. Will I get the loan from Aasaan Credits?

Yes, you can get the loan even if you don’t have credit history. Your credit/CIBIL scores are not the only factors we consider before deciding your borrowing capability.

HOW IS AASAAN CREDITS PVT LTD BETTER THAN BANKS?

We cater to a very specific loan segment with customised offerings. Due to strict policies in banks, they do multiple checks on your loan application. In fact, banks do not focus on small loans. Whereas we only target our pre-defined market and accept all the loan requests coming our way.

Would you like to speak to one of our financial advisors?

Just submit your contact details and we’ll get in touch shortly.