Who can apply for a loan with Shubh Loans?

Any salaried person with at least 6 months of total work experience and salary of Rs.15,000 per month or above can apply for a personal loan with Shubh Loans.

How much money can I borrow from Shubh Loans?

Currently we provide personal loans from Rs.25,000 to Rs.5 lakhs, for a tenure of 1 to 4 years.

What documents are required to apply for a loan with Shubh Loans?

You will be required to upload your Aadhaar, PAN and last 6 months bank statement. After approval you need to upload your salary slip and residence proof - any valid government KYC document / rental agreement / postpaid mobile bill or utility bill. The document needs to be in your name.

Where do I get the money after loan approval?

Once the loan is approved You will get the amount in your salary account.

How do I pay back my loan?

The EMI is debited from your salary account on the date communicated to you. In order to ensure a smooth experience please maintain the required amount in your account.

Can I repay my loan early?

Yes, you can repay your loan earlier as well.

What happens if I miss an EMI payment?

If you miss paying your EMI on time you will have to pay a penalty along with the EMI and the penalty will increase with time.

Which cities is Shubh Loans present in?

Shubh Loans is currently serving customers in Bangalore, Chennai, Hyderabad, Mumbai, Delhi NCR, Kolkata, Ahmedabad, Pune, Chandigarh, Jaipur and Nashik.

Is it safe to enter my bank details in the app?

Your bank statement is an essential requirement to take a loan with any financial institution. We provide 2 options to upload your bank statement – via net banking and via e-statements (PDF files downloaded from your bank account).
RBI provides a simple and secure way of sharing your bank statement via net banking with a lender. We do not store your credentials, and cannot use it for any other purpose except for a one time download of your 6 months bank statement.

When and where can I expect the collection agent to collect my documents?

You can schedule an appointment with our agent who will call you after your loan is approved. Documents will be collected by our agent on the scheduled day at your residence.

Will I get a loan if my CIBIL score is low, or if I have defaulted in the past?

We provide loans on the basis of your credit score. This includes your current capacity to repay a loan and your past financial stability. If a customer meets our policy, we provide a loan irrespective of their CIBIL score.

Why is my loan application rejected?

We reject loan applications on the basis of 2 criterias (broadly) – current ability to repay a loan and past financial stability.
Our credit score provides insights into how you can improve your credit worthiness. We will be happy to re-assess your application after 6 months.

When can I reapply?

If you have an existing loan with us, you can apply for another loan after you have completed 50% of your tenure successfully. If your loan has been rejected, you can reapply in 6 months.