Loans FAQs

Explore various loan options with our detailed FAQs. Access clear, concise information to choose the most suitable financing solutions for your needs.

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Will closing a loan before its scheduled end date have any impact on my CIBIL score?

Posted:3rd September, 2025
Updated:3rd September, 2025

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81

Pre-closure of loans usually has a positive impact on CIBIL scores, demonstrating financial discipline and repayment capability.

Posted:3rd September, 2025
Updated:3rd September, 2025

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In India, when you take out a business loan, only the interest you pay on that loan can be claimed as a deductible expense for tax purposes.

Posted:3rd September, 2025
Updated:3rd September, 2025

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Loan prepayment calculation involves determining the exact amount required to settle the outstanding loan balance before maturity.

Posted:3rd September, 2025
Updated:3rd September, 2025

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Getting a startup business loan can be moderately challenging, as lenders generally require evidence of business viability, stable income, and a satisfactory credit score.

Posted:3rd September, 2025
Updated:3rd September, 2025

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76

Marginal Cost of Funds Based Lending Rate (MCLR) is the minimum rate of interest below which banks cannot lend, introduced by the Reserve Bank of India to ensure efficient monetary policy transmission.

Posted:3rd September, 2025
Updated:3rd September, 2025