FAQs
Frequently asked questions
Everything you need to know about borrowing through Kredistar.
General
About Kredistar & your loan
Talk to us
WhatsApp+91 93908 07900 · Mon–Sat, 9:00 AM – 7:00 PM
Is Kredistar a bank or an NBFC?
No. Kredistar Finserv Pvt. Ltd. is a Direct Selling Agent (DSA) and loan aggregator. We help you compare and apply to RBI-regulated banks and NBFCs; the lender makes the credit decision and disburses the loan.
Does Kredistar charge any fee?
No. Our advisory service is free for borrowers and we never ask for an upfront fee. Lenders may charge a processing fee, GST and other charges, all of which appear in the lender’s Key Fact Statement before you sign.
Which banks and NBFCs do you work with?
Our panel includes HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, IDFC First Bank, Kotak Mahindra Bank, Bajaj Finserv, Tata Capital, HDB Financial Services, Poonawalla Fincorp and other lenders.
How much can I borrow, and for how long?
Loans range from ₹3,000 to ₹5 Crore depending on product and lender. Tenures run from 3 months up to 30 years for home loans; personal loans are 3 to 60 months.
What is the maximum APR on a personal loan?
Up to 36.5% p.a., inclusive of interest and fees, for the highest-risk approved profiles. Most borrowers are offered lower rates. A representative cost example is shown on our Rates & Disclosures page.
Will checking my eligibility affect my CIBIL score?
No. Our eligibility checker is an estimate based on what you enter and does not pull your credit report. A credit enquiry happens only when a lender processes your formal application, with your consent.
What documents do I need?
Typically PAN, Aadhaar, income proof (salary slips or ITR), and recent bank statements. Secured loans also need property, vehicle or gold documents. Each loan page lists the exact documents.
How long does disbursal take?
Personal loans for eligible salaried applicants can disburse in 24–48 hours. Secured loans such as home loans and LAP usually take 1–3 weeks because of valuation and legal checks.
Can I apply if I am self-employed?
Yes. Lenders on our panel have products for self-employed professionals and business owners, assessed on ITR, GST returns and banking history.
How do I track my application?
Use the Track page with your mobile number and application ID, or sign in to the Kredistar app to see live status updates from your relationship manager.
How is my personal data used?
Only to assess your eligibility and forward your application to the lender(s) you are matched with. We do not sell your data. See our Privacy Policy.
How do I raise a complaint?
Write to our Grievance Officer at contact@kredistar.in or call +91 93908 07900. We respond within 7 working days. Complaints about a loan itself can also be escalated to the lender and, if unresolved, to the RBI Integrated Ombudsman.
Home Loan
Home Loan
Can I get a home loan with a co-applicant?
Yes — adding an earning co-applicant (spouse, parent or sibling) can increase your eligibility and may offer tax benefits to both applicants.
Fixed or floating interest rate — which is better?
Fixed stays constant through the tenure; floating moves with the lender’s benchmark rate. Floating is more common in India and usually works out cheaper over the long term.
Can I prepay my home loan?
Yes. RBI has waived foreclosure charges on floating-rate home loans for individual borrowers; fixed-rate loans may still carry a prepayment fee — check before signing.
How much down payment do I need?
Typically 10–25% of the property value, since RBI’s LTV norms cap how much of the value a lender can finance.
Can self-employed individuals get a home loan?
Yes, with additional documentation — ITR, business proof, and bank statements. Some lenders in our network specialise in self-employed profiles.
Personal
Personal Loan
Do I need to state my reason for the loan?
Personal loans have flexible end-use, so you can use them for most legitimate personal needs. Lenders may still ask the purpose as part of their KYC and credit assessment, and speculative or illegal uses are not permitted.
How fast can I get the money?
Same-day to 48-hour disbursal is common for eligible salaried applicants with a good CIBIL score.
Will a personal loan affect my CIBIL score?
Applying causes a small, temporary dip from the hard inquiry; paying EMIs on time then improves your score over the loan tenure.
Can I close my personal loan early?
Yes — most lenders allow foreclosure after a lock-in period (commonly 6–12 months), sometimes with a small fee.
Can I apply if I already have a personal loan?
Yes, subject to your overall repayment capacity (FOIR) across all existing loans.
Business
Business Loan
Do I need collateral for a business loan?
Not always — many NBFCs offer collateral-free loans up to a certain ticket size based on turnover and credit profile.
What documents are essential?
PAN, Aadhaar, GST returns, bank statements, and business registration proof form the baseline across most lenders.
Can a new business get a loan?
Most lenders prefer 2+ years of vintage, though MSME/Mudra schemes support newer businesses.
How is my loan amount decided?
Primarily by turnover, profitability, banking history and credit score — not just the amount you request.
Can I prepay a business loan?
Most lenders allow it, sometimes with a foreclosure charge — always confirm the terms before signing.
LAP
Loan Against Property
Can I use LAP funds for any purpose?
Yes, largely unrestricted — business, education, medical, or debt consolidation are all common uses.
Is LAP cheaper than a personal loan?
Usually yes, since it’s secured — LAP rates are typically well below unsecured personal loan rates.
Can I sell the property while the LAP is active?
Only after the loan is closed and the mortgage is released, or with the lender’s explicit consent as part of a structured payoff.
How long does LAP approval take?
Longer than unsecured loans — typically 1–3 weeks, due to property valuation and legal verification.
Can I get LAP on an inherited property?
Yes, provided you have clear, undisputed title and the necessary succession/inheritance documents.
Gold Loan
Gold Loan
Is my gold safe with the lender?
RBI-regulated lenders are required to store gold in secure, insured vaults with strict verification processes.
What happens if I can’t repay?
Lenders typically send reminders and offer a grace period before initiating auction — renewing or partial payment can often prevent this.
How is the loan amount calculated?
Based on the purity and current market value of your gold, within RBI’s tiered loan-to-value caps — up to 85% for loans up to ₹2.5 lakh, 80% for ₹2.5–5 lakh and 75% above ₹5 lakh.
Can I get a gold loan without income proof?
Yes — gold loans typically don’t require income documentation since the gold itself secures the loan.
How is interest charged?
Varies by lender — some charge on the reducing balance, others on a flat or bullet basis. Always confirm before signing.
Vehicle
Vehicle Loan
Can I get a loan for a used car?
Yes, though LTV is usually lower and tenure shorter than for new vehicles.
What is hypothecation?
The lender’s legal claim on your vehicle (noted on the RC) until the loan is fully repaid — it doesn’t affect your right to use the vehicle.
Can I prepay my vehicle loan?
Most lenders allow it after a lock-in period, sometimes with a small foreclosure fee.
Do I need a guarantor?
Usually not for salaried applicants with steady income and a reasonable CIBIL score; may apply for higher-risk profiles.
Is insurance mandatory?
Yes — comprehensive insurance is typically required for the full loan tenure to protect both you and the lender.
SME
SME Loan
What counts as an SME?
Under the MSME classification, enterprises are grouped by investment and turnover into micro, small and medium. Most lenders’ SME products target small and medium enterprises with a few years of audited financials.
Can I get an SME loan without collateral?
Yes, for eligible profiles. Lenders can extend collateral-free credit to micro and small enterprises under the CGTMSE guarantee scheme; larger or riskier loans may still need security.
How long does sanction take?
Unsecured SME loans can be sanctioned within days; secured loans take longer because of property valuation and legal checks — typically 1–3 weeks.
Do I need Udyam registration?
It is strongly recommended. Udyam registration is required to access MSME benefits such as priority-sector lending and CGTMSE cover.
MSME
MSME Loan
Is Udyam registration mandatory?
It is required to avail most MSME benefits, including priority-sector status and CGTMSE cover. Registration is free on the government’s Udyam portal.
What are the Mudra loan categories?
Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakh), Tarun (₹5 lakh to ₹10 lakh) and Tarun Plus (₹10 lakh to ₹20 lakh, for borrowers who have successfully repaid a Tarun loan).
Can a new business get an MSME loan?
Yes — Mudra and Stand-Up India support new enterprises. Most other MSME loans prefer at least 1–2 years of business vintage.
Is there any fee to apply through Kredistar?
No. Kredistar does not charge borrowers. Any processing fee is charged by the lender and disclosed in the Key Fact Statement before you sign.
Working Capital
Working Capital Loan
How is my working capital limit decided?
Lenders assess your turnover, operating cycle, current assets (stock and receivables) and banking conduct. A common benchmark for MSMEs is a percentage of projected annual turnover, subject to the lender’s policy.
Do I pay interest on the full limit?
No. On cash credit and overdraft facilities, interest is charged only on the amount you actually use, for the days you use it.
Is collateral required?
Cash credit is usually secured by stock and receivables, sometimes with additional collateral. Unsecured overdrafts are available for strong profiles, and CGTMSE cover may apply to eligible micro and small enterprises.
How often is the limit renewed?
Typically once a year, based on updated financials and stock/debtor statements.