Your Dreams
with Tailored
Loan Solutions

From home ownership to personal aspirations, we offer a range of
loan solutions designed to make your dreams achievable.

Instant loans

Urgent Funds, Instant Solutions: Embrace Financial Flexibility with Our Quick and Easy Instant Loans. Your pathway to tackling unexpected expenses with confidence.

Unsecured loans

Realise Your Goals, No Collateral Needed: Elevate Possibilities with Unsecured Loans. Unlock the funds you need without pledging assets. (Personal loans , Business loans)

Secured loans

Empowering you with substantial funds backed by your assets.Unlock your capital. (Home loan , Loan against property ,
Loan against Mutual fund/stocks)

EMI Calculator

Need a new car, a house, or a foreign MBA?
Calculate your EMI and start planning.

Frequently Asked Questions

What is a loan?

A loan is a sum of money borrowed from a lender, typically a financial institution, with the understanding that it will be repaid with interest over a specified period of time.

What are the different types of loans?

There are several types of loans, including:

Personal Loans: Unsecured loans for various personal expenses.

Home Loans (Mortgages): Loans for purchasing or refinancing real estate.

Auto Loans: Loans for purchasing vehicles.

Student Loans: Loans for educational expenses.

Business Loans: Financing options for business ventures.

Credit Card Loans: Borrowing against a credit card's credit limit.

Secured Loans: Loans backed by collateral (e.g., home equity loans).

Instant Loans: Short-term, high-interest loans for immediate needs.

How do I apply for a loan?

You can apply for a loan through a bank, credit union, or online lender. The application process typically involves providing personal information, financial details, and documentation to support your eligibility.

What factors are considered in loan approval?

TLenders consider factors such as credit score, income, employment history, debt-to-income ratio, and the type of loan when evaluating your application.

What is a credit score and why is it important for loans?

A credit score is a numerical representation of your creditworthiness, based on your credit history. It helps lenders assess the risk of lending to you. A higher credit score usually leads to better loan terms and lower interest rates

What are the documents required for getting a personal loan?

Document requirement usually depends upon the lender's policy. Standard documents that are required are:

  1. PAN
  2. Aadhaar / DL/Voter id
  3. Bank Statement 3/6 months
  4. Salary Slips (for Salaried)
  5. ITR / Form 16
  6. Company ID card/ Appointment Letter etc
  7. Any other document may be asked for by the lender
What is the amount of personal loan that I can get?

The loan amount depends upon your income and current obligations. In general, the EMI amount should range from 30% - 60% of your monthly earnings. The minimum and maximum loan offered by our partners is 50,000 to 75 lacs.

Why is a personal loan better than cash withdrawal from a credit card?

A personal loan is better than a credit card cash withdrawal.Credit cards usually charge transaction charges for every cash withdrawal.Cash withdrawn from a Credit card needs to be paid very soon in full whereas personal loans need to be repaid in monthly EMIs.Some credit cards charge interest on cash withdrawal which may be as high as 48% per annum depending on the credit card you use.

What are the major factors to be considered while applying for a Personal Loan?

Major factors to be evaluated before applying for a Personal Loan are:-

Credit Score - It is important to have a healthy credit score of 750 plus to get the desired loan amount and a better interest rate.

Interest Rates:-Interest rate charged by a lender ranges from 11% to 24%. The interest rate has an impact on the total repayment and EMI amount.

Loan Tenure :- Loan tenure ranges from 12 months to 84 months. The longer the period, the higher the total repayment amount and lower the EMI amount and vice-a-versa.

Processing Fee :- Loan processing fee ranges from 1% to 3%. The processing fee impacts the amount you receive in your bank account. The higher the processing fee, the lower the net amount received in your bank and vice-a-versa.

Customer Support :-Choose the lender offering you a multi-channel customer support

Hidden Charges :-There may be some hidden charges like:-

Prepayment Charges :- Some institutions charge you for paying your loan early, so choose the lender offering you a zero or lower Prepayment charges.

EMI Bounce Charges :-When you fail to pay an EMI, lenders charge bounce penalty charges as well as penal interest for the unpaid EMI.

Can I repay my loan earlier?

Some lenders allow prepayment of the loan in parts and some in full. However, they may charge some prepayment fee for that. You should read loan documents to remain updated about the same.

Does my credit score have any impact on my loan offers?

Yes, a credit score is the main deciding factor for loan offers, loan amount, interest rate, loan tenure, processing fee etc. The better the credit score, the better offer you will receive from a lender. Some lenders do not extend loans to a person having a credit score below a certain amount.

How much time does it take to get a loan?

It depends upon the mode of processing the application. When the application is processed online through the airpay money app, you can receive the amount in your account in approximately 3-4 working days. However, if the application is processed manually/physically like secured loans, then the disbursement can take up to 7-15 days.

For what purpose can I take a personal loan?

A personal loan comes with a multitude of options, i.e. you can use the amount for any purpose like travelling, marriage, renovation, repair, education etc. However, the amount should not be used for any illegal purpose.

What is the process of applying for a personal loan?

First, you need to download the airpay money app. Then you need to log in using your email Id. After login in, you need to create your profile. Then from the dashboard, you can click on loan>> personal loan. After following all the steps and filling the required information, you will see the best offers for you which match your profile and credit score. You need to select the bank to which you need to apply. After selecting the bank, your application is submitted to the partner bank for approval.

How can I repay my loan?

Every month an EMI will be debited from your primary account, generally a salary account or a primary business account. You can also prepay the loan by making a lump sum payment if the lender allows the same. However, the lender may charge additional pre closure charges for the same.

What is the processing fee? Is this charged in addition to the interest?

Processing fee is the one-time fee charged by lenders to cover expenditures incurred while processing a loan application. Yes, a processing fee is charged in addition to the interest amount.

Can I change my EMI date?

Yes, you can change the EMI date after putting a request to the partner bank directly.

Do I need to provide any security/collateral?

A personal loan is unsecured. Hence you need not provide any security/collateral.

What is the repayment tenure for a Personal Loan?

The repayment tenure is different for different banks/NBFCs. It ranges from 12 months to 84 months.

If my application is rejected by the lender, can I reapply?

Yes, if your application gets rejected by a lender, you can always apply for a loan from another lender immediately if the airpay money app suggests you. However, you cannot reapply to the same lender for a period of 12 months. You will receive a notification for the same in your airpay money mobile app.

What is a business loan? Is it different from a personal Loan?

A business loan is a kind of personal loan extended to a business owner, i.e. non-salaried applicant. Generally, business loans are the same as personal loans. However, some lenders may restrict the end-use of business loans.

Can I apply to multiple lenders at the same time?

No, airpay money does not allow you to apply to multiple lenders at the same time. You can only apply to one lender, and if your application gets rejected from that lender, you can apply to another lender, but not simultaneously.