Frequently asked questions

No. Loan Cluster is a finance consultancy. We help you choose and apply for a loan; the loan itself is sanctioned by a bank or NBFC, at its own discretion.

The first consultation is free. If a service fee applies to your case, your consultant explains it in writing before any work begins.

It depends on the loan and on whether you are salaried or self-employed. Each loan page has a checklist and a downloadable PDF; your consultant confirms the exact list for your lender.

Timelines depend on the lender and the loan type — secured loans need property checks and take longer. We give you a realistic timeline at the start and keep you updated.

We use your details only to handle your enquiry and share them with lenders only with your consent. Read our Privacy Policy for details, including how to withdraw consent.

Lenders look at your income, age, existing EMIs, credit score, job or business stability and the property itself. Your consultant works this out with you before you apply, so you know what to expect.

Lenders usually fund a percentage of the property value that depends on the loan size and RBI limits — the rest is your own contribution. Your consultant tells you the likely amount for your case.

With a floating rate, your interest rate moves when the lender’s benchmark rate changes, so your EMI or tenure can go up or down over the life of the loan.

For floating-rate home loans taken by individuals, lenders generally do not charge for prepayment. Fixed-rate loans may have charges — your consultant will check the terms before you sign.

Yes. All co-owners normally need to join the loan as co-applicants.

Lenders lend a percentage of the property’s market value, which depends on the property type, your income and the lender’s policy. Your consultant gives you a realistic figure after seeing the papers.

Some lenders offer this. You get a limit and pay interest only on the amount you actually use.

Residential and commercial properties with a clear title and no existing charge are usually accepted. Some property types are not — ask your consultant early.

It depends on your turnover, profit, existing loans and repayment capacity. Your consultant estimates this from your ITRs and bank statements.

Rates depend on the lender and on your business profile, credit score and financials. We show you the actual offers before you decide.

Any genuine business purpose — expansion, working capital, inventory, equipment or other capital needs.

Businesses whose money is regularly tied up in stock or customer payments and who need a buffer to meet day-to-day expenses.

Stock and debtors are the primary security. Lenders usually also ask for additional (collateral) security such as property, fixed deposits or other assets.

Lenders charge a processing fee, and may charge renewal fees, penal charges and fees for late stock statements. Your consultant explains each lender’s charges before you choose.

Yes. Lenders review the account every year; a good record helps you keep or increase the limit.

Lenders finance a share of the total project cost; the promoters contribute the balance. The exact split depends on the project and the lender.

A period at the start of the loan when you do not repay principal (and sometimes interest), so the project can be set up and start earning.

For new businesses lenders often ask for substantial collateral. Promoters with a strong track record may need less — your consultant will tell you what to expect.

Lenders usually fund a percentage of the proforma invoice, depending on your credit profile and the machine.

It depends on the lender and your business profile. We show you the offers side by side.

Yes, but lenders usually ask for collateral security in that case.

Salaried individuals, self-employed professionals such as CAs, CSs and advocates, insurance, mutual fund and real-estate professionals, and firms — anyone with valid KYC.

Name, mobile number, email, city and profession, plus Aadhaar, PAN and a cancelled cheque. Firms also share their business registration documents.

We contact you within 24 hours of registering. Once your documents are verified — usually within two working days — you can start introducing clients.

After the lender disburses the loan and confirms it, your payout is credited to your registered bank account.

Your relationship manager, or email sales@loancluster.in.

Yes. Share a client’s details with us only after they have agreed to be contacted by Loan Cluster about their loan.