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Eligibility
Application & Document Process
Fee & Charges
Credit Score
Repayment
Safety & Privacy

Eligibility

? What is a personal loan?
A personal loan is an unsecured loan that helps you manage expenses which could be a medical emergency, travel, education, home renovation, or other personal needs without providing collateral.
? Who can apply for a RuleMudra personal loan?
Any salaried individual meeting the basic eligibility criteria can apply for a RuleMudra personal loan online.
? What is the minimum salary required for a personal loan?
The minimum salary requirement may vary depending on the lender, city, and applicant profile. RuleMudra helps connect eligible users with suitable loan options.
? What is the maximum and minimum loan amount that I can apply for?
The minimum loan amount you can borrow through RuleMudra is INR 5,000. The maximum loan amount is calculated using the underwriting model and can go up to INR 1 Lakh.
? Can I get an instant personal loan without collateral?
Yes, RuleMudra offers an unsecured personal loan option where no collateral is required.
? Can I apply for a personal loan with a low credit score?
Yes, you can check the eligibility for a personal loan with a low credit score. Loan approval depends upon multiple factors such as income, repayment history, and lender policies. RuleMudra helps users explore suitable loan opportunities.
? How do I check my instant loan eligibility?
You can check your loan eligibility online with RuleMudra by sharing your basic details like mobile number, income, employment type, and city.
? Can students apply for instant personal loans?
Loan eligibility for students depends on their income criteria. You can check the eligibility online with RuleMudra by sharing your basic details like mobile number, income, employment type, and city.
? I have an active loan with RuleMudra. Can I apply for another loan?
No, we don't provide the option of applying for a new loan if a user already has an existing one. However, upon closing the existing loan, you could apply for a fresh one.

Application & Document Process

?How can I apply for a personal loan online?
You can apply online through RuleMudra by filling out a simple digital application form and submitting the required details and documents.
?How fast is the loan approval process?
We try our best to process your loan within 24 hrs after the submission of your loan agreement. Steps such as filling out the application, approval of your NACH mandate, and eligibility check happen before the loan agreement stage and are not part of this 24-hour period.
?Can I apply for a loan without visiting a branch?
Yes, the complete loan process is online, making it more convenient to apply for everyone and from anywhere in India.
?What are the documents required to apply for a loan?
For salaried applicants: Identity Proof (Aadhaar/PAN Card), Current Address Proof, and Bank Statement (Salary A/C). Documents must be valid at the time of submission. If you clear the eKYC process, document requirements will be minimal.
?Can I send the documents by email?
As we follow a completely digital process, we will not be in a position to accept your documents by email. If you are getting errors while uploading, you can send a screenshot to [email protected].

Fee & Charges

?What is the rate of interest charged by the RuleMudra platform?
The rate of interest is determined by the assessment of your details like credit score, income, other loans, obligations or the selected lender.
?Do I have to pay a processing fee on the loan?
We charges a fee to process your loan. The applicable processing fee will be deducted from the loan amount while the remaining fund will be transferred to your account.
?I do not understand the interest rates. How much will I have to pay?
On your screen, you will see a column called "Repayment" — this is the total amount you will need to pay. The Loan Term indicates the duration of repayment. The Interest shown is for informational purposes only and is not an additional amount to be paid separately.

Credit Score

?What do you mean by credit score?
Your credit score is a number that represents your creditworthiness, based on previous loans, credit card usage, and your promptness in paying back loans or credit card bills on time.
?Will there be a credit report enquiry when I apply for a personal loan?
Yes, there will be a credit report enquiry made when you apply for a loan on RuleMudra. This enquiry will be marked by our NBFC only after you have given consent.
?How does my credit score get affected by the loan?
Your credit score gets affected only if you're not able to pay back the loan EMIs on time or if you miss payments. With consistent repayments, your credit score will only improve.
?Will my credit score be affected if I get rejected?
No, your credit score will not be affected if your loan application is rejected. However, if you have had several loan enquiries with multiple lenders, it can affect your credit score.

Repayment

?Can I close my loan before the repayment period ends?
Yes. Click on the "Repayment" section, enter your registered mobile number, verify with OTP, select the full payment option and proceed to successfully foreclose your loan.
?Can I do a partial payment of my loan?
Yes. Click on the "Repayment" section, enter your mobile number, verify with OTP, select the partial payment option, enter the amount you wish to pay and proceed.

Safety & Privacy

?Is it safe to apply for a loan on the RuleMudra site?
RuleMudra's security system is designed to be safe. All your data is safe and secure as we use proper data protection and encryption for data management.
?How safe is it to share my KYC documents on your platform?
KYC is a mandatory requirement per RBI regulations. All your personal and financial information is encrypted using SSL protocol, keeping it completely safe.
?How safe is the eKYC process on the RuleMudra platform?
eKYC is regulated by UIDAI with strong security measures. All KYC data is encrypted and digitally signed to ensure authenticity at every step.
?You asked me to share bank details. Is it safe?
We never store any password-related information. It is kept in encrypted format and used only to read your bank statements.
Beware of fraud! Always use our secure Repayment Link for all loan payments. Do not make payments directly to any bank account. RuleMudra is not responsible for payments made to any other or unauthorized accounts.   |