FAQ

• What is an EMI?

  It is the monthly fixed amount that a borrower owes to the lender on a specific date. The principal and interest on a loan are included in the EMI. The rate of interest is determined by the borrower's income, CIBIL score, employer, age, and other factors. To build a customized loan offer for you, Mindfin Ser gathers information from your application form as well as other data sources. To qualify for a loan from Mindfin, a borrower must meet the following requirements.

• What are the interest rate and other fees?

  The type of loan determines the interest rate and other fees. For more information, please see the individual product pages.

• What is the timeline for my repayment?

  The debt will be repaid annually on an EMI (equated monthly installment) basis, with the sum determined by the incurring balance. Depending on the loan's timing, one or two of the payments could be different.

• What criteria does Mindfin use to determine my creditworthiness, and how long does this process take?

  Any customer who wants a loan through the Mindfin portal will have to go through a thorough verification and credit check. The evaluation is based on data gathered from a variety of databases, including the application form, credit bureaus, bank accounts, paycheck, verification records, etc. The above procedure is completely automatic and completes in a matter of seconds. As a result, you will receive approval shortly after submitting your application.

• Is it possible for me to pay off my loan early?

  Yes, you have the option to prepay your loan whenever you want.

• What is the best way for me to make monthly payments?

  You can pay your EMIs with an ECS (electronic funds transfer)

• What happens if a creditor misses or refuses to make a payment?

  If a borrower's monthly payment is late for some cause, the borrower will be paid a penalty fee and punitive interest. The borrower's credit file would be harmed, making it more difficult for him or her to obtain credit in the future. Legal action against the creditor is also a possibility.

• How long is my loan intended to last?

  Mindfin Ser provides loan tenures ranging from one to twenty-five years. If you want a longer-term, you will be able to benefit from a lower monthly EMI.

• Who is eligible to be a co-applicant for my loan?

  The property's co-owners must all be co-applicants for the loan. An individual who is not a co-owner may also apply for the loan as a co-applicant. It’s simple.

• How do I get in touch with Mindfin Ser?

  You can reach us by phone at +91 9916162353, or you can write to us at info@mindfin.co.in