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FAQs

Frequently Asked Questions

Everything you need to know about LoanMyntra’s short-term personal loans, eligibility, repayment, and security.

01 What is LoanMyntra?

LoanMyntra is a digital fintech platform that helps users access short-term personal loans quickly through trusted banks and NBFCs.

02 Who can apply for a loan?

Indian residents aged 21–60 years with a stable income, valid KYC documents, and an active bank account can apply.

03 What loan amount can I get?

Loan amounts usually range from ₹5,000 to ₹3,00,000 depending on eligibility, income, and lender policies.

04 How fast is approval?

Most applications are approved within minutes after submission, subject to verification.

05 How long does disbursal take?

Approved loan amounts are usually credited within a few hours or up to 24 hours depending on bank processing.

06 What documents are required?

Aadhaar, PAN, bank statements, and income proof (salary slips or ITR) are required.

07 Is my data secure?

Yes. LoanMyntra uses bank-grade encryption and strict data protection measures to secure your information.

08 Are there hidden charges?

No. All applicable charges, interest rates, and fees are clearly shown before loan acceptance.

09 Can I repay early?

Yes, early repayment is allowed. Some lenders may apply minimal prepayment charges.

10 What if I miss an EMI?

Missing an EMI may attract late fees and can impact your credit score. Timely repayment is recommended.

11 Will this affect my credit score?

Eligibility checks may involve soft inquiries. Loan approval may include a hard credit check.

12 How can I contact support?

You can reach our support team via email, phone, or the contact page on the LoanMyntra website.

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