Help Center
Find answers to common questions and get support for LoanSage.
Frequently Asked Questions
How do I apply for a loan?
You can apply for a loan by visiting the 'Loan Options' page and following the step-by-step instructions.
What documents are required for a loan application?
Typically, you'll need proof of identity, income, and address. Specific requirements may vary by lender.
How do I check my loan eligibility?
Use our instant eligibility check tool on the homepage to see if you qualify for a loan.
Can I apply for a loan in my preferred language?
Yes, LoanSage supports 10 Indian languages for loan applications and assistance.
What is the difference between a secured and unsecured loan?
A secured loan requires collateral (e.g., a house or car), while an unsecured loan does not. Unsecured loans typically have higher interest rates.
How is my credit score calculated?
Your credit score is based on factors like payment history, credit utilization, length of credit history, and types of credit accounts.
What is a debt-to-income ratio (DTI)?
DTI is a measure of your monthly debt payments compared to your monthly income. Lenders use it to assess your ability to manage repayments.
Can I prepay my loan?
Yes, but some lenders may charge a prepayment penalty. Check your loan agreement for details.
What happens if I miss a loan payment?
Missing a payment can result in late fees, a negative impact on your credit score, and potential default if not resolved.
How do I refinance my loan?
Refinancing involves replacing your current loan with a new one, usually to get a lower interest rate or better terms. You can apply through LoanSage.