Loan Application & Eligibility

To get a ₹2 lakh personal loan, you should be an Indian resident aged 21-60, have a reliable income, a credit score of 650 or more, and a stable employment record.

To apply for a loan with Zype:

• Click ‘Apply Now’ or download the Zype app from Play Store/App Store.
• Enter basic details like name, email, PAN, and employment info.
• Get loan approval in under 60 seconds (if eligible).
• Complete KYC with selfie verification and Aadhaar-linked OTP.
• Select your loan amount and repayment tenure.
• Get the loan disbursed instantly to your bank account

It depends on the loan type—some car and education loans offer 100% financing, while personal and home loans usually require a down payment.

Those with low or unstable income, poor credit score, high existing debt, or not meeting the lender’s age and employment criteria may not be eligible for a loan.

Yes, you can get a loan after settlement, but it can be tough since it affects your credit score. Lenders may charge higher interest or set stricter rules.

Lenders check your income, credit score, job stability, debts, and age to make sure you can repay the loan before approving it.

You can find out if you’re eligible for a loan by using an online calculator, checking lender criteria, and reviewing your credit score. You may also speak with a loan expert or explore lender options online.

Typically, individuals with a monthly income of at least ₹15,000, within the age range of 21-60, stable employment, and a good credit score can qualify for a 15K salary loan.

To be eligible for a loan, you need a stable income, a good credit score, and meet the lender’s age and employment criteria. Checking lender requirements and maintaining a low debt-to-income ratio can also help.

If you earn ₹18,000 per month, you can get a personal loan between ₹1 lakh to ₹2 lakhs, depending on your credit score and the lender’s rules.

You will need a monthly income of at least ₹20000 to ₹25,000. However, this amount can differ based on the lender and city, with metro areas like Mumbai and Delhi often having higher income criteria.

To write a loan application letter, include your details, loan amount, purpose, repayment plan, and supporting documents. Keep it formal, clear, and concise while addressing it to the lender.

To get a Zype online loan, download the app, register with basic details, complete KYC with Aadhaar and selfie verification, and then select the loan amount and repayment tenure. The loan will be disbursed to your bank account instantly. 

To apply for a loan, fill out a form from Zype’s official website or app, submit the needed documents, get your credit checked, and if approved by the lender, receive the money in your bank account after agreeing to the repayment terms.

A CIBIL or credit score is a three-digit number (300 to 900) that shows how good you are with credit. A higher score means better credit health. For a personal loan, you usually need at least 650+.

Loan approval time depends on the lender and loan type. Personal loans usually get approved in 2 to 5 working days. Some lenders approve within a few hours, while others may take a week or more.

You can check your loan status by logging into your lender’s app or website, visiting their branch, or calling customer support. Your credit report may also show active loans.

You can check your loan eligibility by using an online calculator, looking at lender requirements, and checking your credit score. You can also ask a loan officer or search online.

A 900 CIBIL score is the highest but very rare, as it needs a perfect credit history. A score above 750 is excellent and easier to achieve, giving you better loan benefits.

With a ₹55,000 salary, you may qualify for a home loan of around ₹20 to ₹40 lakhs, based on the lender’s policies and your financial stability.

The loan waiting period, or “moratorium period,” is the time after you get the loan when you don’t have to make payments. It helps you manage your finances before starting repayments.