Your Questions Answered!

You have questions, we have answers. Here are the answers to the
most common inquiries regarding our loans and related services.

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Overall
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Products & Services
Terms & Conditions
Terms & Conditions
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Repayment
What are the different types of loans available at A1 loans? Toggle arrow

A1 loans offers three different types of loan options for all applicants, provided they meet the eligibility criteria, i.e.,

  • Personal Loans
  • Loans Against Property
  • SME Loans
How do I apply for a loan? Toggle arrow

We have a web application process for any kind of loan. (The entire process takes place online, from application to disbursal)

What is the minimum and maximum loan amount I can apply for? Toggle arrow

At A1 Loans, we lend ₹15,000 to ₹1,00,000 for salaried individuals at competitive rates.

What is a personal loan? Toggle arrow

A personal loan is an unsecured credit (Provided without any collateral or security) provided by A1 loans to individuals for the purpose of dealing with an immediate personal expense. Some situations where people take a personal loan are when they buy a gadget, pay for medical treatment, use it on home renovation, spend money on a wedding, finance their children’s education, etc.

What are the benefits of applying for a personal loan with A1 loans? Toggle arrow

The significant benefits that A1 Loans offers are,

  1. Competitive Interest Rates
  2. Complete Online Process
  3. Quick Sanction and Disbursal
  4. Flexible Repayment Tenure
Is there an option by which I can waive the personal loan foreclosure charges? Toggle arrow

Upon the payment of a minimum of 6 EMIs, the applicant will have the option to foreclose the loan in full or in part towards the outstanding principal amount without any pre-payment charge if the loan is repaid from its sources.

What’s the required credit score for a loan application? Toggle arrow

To be eligible for a loan at A1 Loans, the applicant must have a credit score of more than 650.

Are we required to raise collateral or security for the loan? Toggle arrow

To obtain a personal loan from A1 Loans, you don't need to provide any security, collateral, or guarantor.

Does my credit score affect my chances of getting a personal loan? Toggle arrow

Yes. We consider your credit score one of the major factors in determining whether your personal loan application should be sanctioned. A good credit score will increase your chances of getting a personal loan from A1 Loans.

How is the interest rate on loans calculated? Toggle arrow

We use the diminishing balance method to calculate the rate of interest on all our loans.

How is the processing fee on personal loans calculated? Toggle arrow

We incur a restricted amount of cost during the loan processing and disbursal, and the processing fee is charged accordingly.

Is there any lock-in period for personal loan pre-closure? Toggle arrow

The lock-in period for a personal loan is 3 months, post which the early repayment of the entire loan amount can be done.

Is insurance mandatory for personal loans? Toggle arrow

Insurance is the subject of solicitation. We recommend that you protect your loan obligation against unforeseen events so that your family does not have to pay back the loan on your behalf.

Is insurance included in deductions or EMI? Toggle arrow

The deduction with regard to the insurance charges is made from the disbursal amount.

Can the application be edited here? Toggle arrow

Once submitted, the application can no longer be edited. However, the applicant has the access to view their complete application.

Is it mandatory to have a co-applicant? Toggle arrow

Taking a co-applicant is based on the applicant’s credit score; however, a co-applicant is not mandatory in most cases.

How do I check the loan application status online? Toggle arrow

Online mode is the easiest way to keep track of your loan application status. At A1Loans, you can track the status of your loan using the mobile number provided at the time of registration. If you still need to check offline, please contact us at 9789011874 between 9:00 a.m. and 6:00 p.m., Monday through Saturday (except for public holidays and Sundays).

What should you do if the loan application status is not displayed online? Toggle arrow

If your loan application status is not displayed on the portal, you are advised to contact us at 9789011874 or info@a1loans.in.

What should you do if the loan application is rejected? Toggle arrow

If your loan application has been rejected, there might be a number of reasons behind it. NBFCs consider several factors, such as your credit score, other active loan accounts, credit history, and loan repayment history. If your loan application has been rejected, there is a high chance that one or more of the criteria mentioned above still need to be fulfilled. In such cases, the best option would be to wait for your credit history and credit score to improve and then apply for the same.

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