How to Register?

Download the LoanFront app from the Play Store & register yourself through your Mobile number or Google account.

I do not have a Mobile number or Gmail account. Can I still use the LoanFront app?

No, an active Mobile number or Gmail account is mandatory for signing up with LoanFront.

• Make sure you are entering your name as per PAN CARD.
• Try to use mobile number linked to your AADHAAR Card for faster processing.

How to fill the eligibility form ?

Eligibility form should be filled very carefully and accurately for us to process your application smoothly

• Make sure you are entering your name as per PAN CARD.
• Try to use mobile number linked to your AADHAAR Card for faster processing.

Why does my phone number have to be linked with my Aadhaar?

For e-signing the Loan Agreement, UIDAI will send you an OTP on the mobile number that is linked to your Aadhaar.

Can I apply for a loan through LoanFront if my phone number is not linked to my Aadhaar card?

No, Your Mobile Number needs to be linked to your Aadhaar Card for you to apply for a loan from LoanFront.

What if my app shuts down before I complete the process?

Don’t worry – You can pick up exactly from where you left off, once you re-start the app.

Can I edit my profile details?

No you can not edit your details once you submit your profile for eligibility check, so please make sure you are filling the details correct.

Can I reach out to LoanFront?

For any questions or queries, you can reach out to us at support@loanfront.in or call us on 08 04812 6351

I haven’t received the OTP. What can be the reason?

The SMS is delivered by your network operator, so network issues can prevent you from receiving the OTP. You can try switching off and restarting your phone. Or else, you can try after some time.

My application was not approved? What was the reason?

Our NBFC risk policies determine the eligibility of every applicant based on set parameters and algorithms. Don’t worry if your loan did not get approved it is not necessarily a reflection of your credit worthiness. It simply means that your profile does not fit our set algorithms and credit model. We will let you know in case your application could not be approved. Also, you may re-apply after 3 months in such cases.

How long will it take me to complete my profile to avail the loan?

Completing your profile and uploading your documents should not take you more than 15 minutes. If all your documents are provided correctly, and your account is verified, you may receive the approved loan amount in your bank account within minutes.

Do I have to upload the required documents every time I take a loan?

No, you only need to upload your documents the first time you apply for a loan. Once your documents have been successfully verified and your LoanFront profile is confirmed, you need not re-submit your documents the next time you apply for a loan.

Can I upload a photo of a scanned copy or photocopy of my identity proof (PAN card) or address proof (Aadhaar card, voter ID, driving licence)?

No, a photocopy or scanned copy of your documents will not be accepted. We require photos of your original documents for video verfication only.

Can I send the documents to you via email?

No, you can only upload the documents through the app.

How do you perform customer identity and address checks?

The documents you upload help all loan sanctioning entities understand customers and their financial dealings better. The documents we need from you are:
A photo of your PAN Card, which we use as your identity proof.
Offline Aadhaar and video KYC process to be explained.

My profile verification has been pending for more than 24 hours. Why?

Usually, the profile verification happens within 10 minutes of registration. However, in rare cases we may require more time to verify the profile. This may happen in case of low clarity documents, user provided details not matching with the documents uploaded, etc.

Once we have been able to verify your profile, you will be notified via SMS. You may also reach out to our customer care at support@loanfront.in or call us on 080 4812 6351 for further help.

Is my data and transactions safe with LoanFront?

All the transactions are secured via a 256-bit SSL encryption. All the data are transferred over secured connections. We do not share your data with any third parties without your consent. Your data is totally safe with us.

Is there a particular time at which I can apply for a loan through LoanFront?

No, you can avail a loan from LoanFront 24x7x365. Since we operate on a completely digitised platform, you are not restricted by any particular working hours.

Why am I not eligible for loans of a higher amount when LoanFront offers up to ₹2 Lakhs?

The loan amount you are eligible for depends on factors like your monthly salary, credit score and a host of other data points that we get from you when you create your profile. Based on this information, we allocate a maximum disbursal limit that you can avail.

If you make regular loan applications from LoanFront and make timely re-payments every time, there is a good possibility that your maximum disbursal limit will increase over time. Do note that while making timely re-payments increases the probability of enhancing your maximum disbursal amount, it does not guarantee the same.

Can I apply for two loans simultaneously?

No, you can only apply for one loan at a time.

Can I change my loan terms?

Once a loan is approved and disbursed, the loan terms such as amount and repayment date cannot be changed.

Can I get my loan cancelled?

Once a loan is approved and disbursed, it cannot be cancelled. Hence, you would need to repay the amount in full to close the loan.

Can I edit my profile details?

To make any changes to your profile, please drop us a mail at support@loanfront.in and we shall get back to you.

Why is the processing fee deducted from my loan amount upfront?

Processing fee is the standard fee charged by all financial entities for operational efforts like performing credit checks, sanctioning the loan, etc. We charge this upfront from the loan amount so you know exactly how much to expect, right from the beginning.

Are there any hidden charges?

No, All our charges are transparent and communicated to the customer upfront via Loan Sanction letter, Loan Disbursal letter, Loan Agreement, GST invoices, EMI Repayment/Loan Closure letter For more information, please check the Charges section of the FAQ.

How do I get to know my re-payment schedule?

You can find it by logging into the app or can find EMI schedules in LoanSanction Letter.

All the details of your loan are transparently communicated through various communications as below

• Loan Sanction Letter
• Loan Disbursal Letter along with Loan Schedule
• Loan Agreement along with detailed T&C and Loan Schedule
• Various GST invoices for any and all the fee collected
• EMI Repayment/Loan Closure letter

Why do you need my bank account details?

We need your bank account details to transfer the funds (loan amount). Since we are fully digital, all the money transfers and repayments are done online only and Loan money is transferred only to the borrower’s bank account.

Why do you need to verify my bank account?

We do this to ensure that the details of the bank account you have provided belongs to you.

My bank account could not be verified. What do I do next?

If we are not able to verify your account automatically, you may try providing a cancelled cheque, to help us with the verification process. Please note that verification through the second method may take up to 24 hours.

Can I get the loan amount transferred to someone else’s bank account?

No, you can only get the amount transferred to your own bank account.

Is it possible to receive the loan amount in a joint bank account?

Yes, it is possible to get the loan amount transferred to a bank account jointly held by you. However, you should be the primary account holder of the joint account.

I am facing technical issues during loan application. How to address?

We will need more information about the issue you are facing in order to be able to advise you on the correct course of action. Send us the screenshot of the issue, along with your registered phone number and mobile device model name to support@loanfront.in, and we shall get back to you at the earliest or call us on 08048126351.

I applied for a loan but did not receive the money in my bank account immediately. Why?

In some cases, your profile may take up to 24 hours to be verified and for the loan amount to be disbursed to your bank account.

Once the Loan is disbursed from our account via IMPS sometimes it may take up to 72 hours to reach your account depending on your bank. Don’t worry, if the amount is not reached you in 72 hours then loan will automatically be cancelled and intimated to you for alternate options.

Why should I e-sign my loan agreement?

The Loan Agreement is a legally binding agreement that you need to sign before availing a loan. The agreement states that once a loan is disbursed to you, you are liable to pay back the entire amount with interest and other charges as applicable, within the maturity of the loan.

I was rejected for a loan; may I apply again?

Certainly. If you believe that your application should be reconsidered or if there have been significant improvements in your creditworthiness since your last application, you can reapply after a waiting period of 3 (three) months from the rejection of your previous application. LoanFront will review your new application; however, it's important to note that approval will be decided by the system automatically as per our credit policy.

If you have specific questions or need guidance on reapplying, it's recommended to contact us at support@loanfront.in for personalized assistance.

Additional information on the deletion of data/deactivation of profile

If you have a request for deactivation of your profile, kindly send an email to support@loanfront.in from your registered email address. Our support team will assist you with the necessary steps to address your profile deactivation request. If you have any additional inquiries or concerns, feel free to reach out for further assistance.

Can I modify the loan amount after I submit my application?

Once you've submitted your loan application, there is no option to modify the loan amount through the app. If any errors were made during the loan process, please contact us at support@loanfront.in for assistance. It's important to note that after reading and filing the loan agreement, modifications to the loan amount or duration are not possible

What are the steps I’ll need to follow to get a loan from LoanFront?

Our app is designed to be simple and user-friendly. Here's a step-by-step guide on how to use it:

• Download the LoanFront app from the Play Store.
• Register yourself using your mobile number or Gmail account.
• Fill in the basic details to check your eligibility.
• Perform a video KYC (Know Your Customer) process.
• Choose the loan amount that suits your needs.
• Provide your bank account details for disbursement.
• E-sign the agreement to finalize the loan terms.
• Receive the loan amount directly into your bank account.

This straightforward process ensures a seamless and convenient experience for users applying for loans through the LoanFront app. If you have any questions or encounter issues, our support team is available to assist you.

How can I email you my bank statement if I'm not registered for netbanking or if my netbanking ID is invalid?

To obtain a PDF copy of your account statement for your loan application, you first need to register for online banking with your bank. Once you have a working ID and password, log into your account and locate the option to download a PDF copy of your statement.

When I try to upload my bank statement, it is not getting approved. What should I do?

If the bank statement you downloaded or received is not in the correct format, we recommend obtaining the bank statement in PDF format directly from your bank's website or the email address you registered with. Submitting the statement in the correct format will expedite the processing of your loan application.

If you encounter any difficulties or face issues, please reach out to our support team at Support@loanfront.in. They will assist you in resolving any problems and guide you through the process to ensure a smooth and efficient loan application experience.

I am experiencing difficulties uploading papers online. Will you be able to complete the application if I email the materials straight to you?

As we follow a fully digital process, we can only accept a limited number of documents via email. For faster processing of your loan, we strongly recommend uploading the required documents through our online platform. If you encounter difficulties while uploading the documents, you can send us a screenshot of the issue at Support@loanfront.in. Our support team will assist you in resolving any challenges and ensure a smooth submission process for your loan application. If you have any further questions, feel free to reach out for assistance.

How can I update or modify my registered email address and mobile number under my LoanFront account?

As of now, we do not have an option to change registered mobile number or email Id after validation with OTP. However, you may please drop a mail to support@loanfront.in so that we will notify you as and when this functionality is available in our App.

How can I re-pay the loan?

You can repay your loan through the LoanFront app, LoanFront website at https://pay.loanfront.in and Vaibhav Vyapaar Private Limited website at https://vaibhav-vyapaar.loanfront.in.

Are there any late payment charges?

Yes, if the repayment of the loan amount, interest and other applicable fees are not made within the due date, you will incur some late payment charges. This includes a per-day penalty charge that will be levied starting from the first day your loan becomes overdue. In addition to this, you will also be levied a one-time overdue charge. These charges will have to be paid over and above the regular due payment.

• Late payment fees is 3% of overdue principal + applicable GST. Late payment fees is charged one-time for each delayed EMI.
• Rate of annualized penal charges in case of delayed payments is 36%. Penal charges are applied on daily basis for each day of delay. Penal charges do not get compounded.
• E.g. EMI of Rs. 5,316 with Principal 4,816 and interest 500, if paid with a delay of 10 days. Then total penalty charges will be Rs. 226 and regular interest of Rs. 40. Therefore, total repayment amount will be to Rs. 5,582 for the delayed EMI.

Note: The late payment charges are to be paid in addition to the regular interest payment.Interest will be charged as per the Interest rate at the time of availing loan and compounded monthly.

To avoid late payment charges and reporting of delayed payments to Credit Bureaus (CRIF / CIBIL /Experian, ), you are suggested to repay on or before the due date of each installment.

I am unable to pay on the mobile app. Is there any other way I can repay the amount?

Yes, we accept loan repayments through the LoanFront app, LoanFront website at https://pay.loanfront.in/ and Vaibhav Vyapaar Pvt. Ltd. website at https://vaibhav-vyapaar.loanfront.in/. If you are facing an issue while repaying your loan, kindly drop us an e-mail on support@loanfront.in and we shall look into it.

Can I repay the loan before the due date?

Yes, you can repay your loan anytime before the repayment date.

Do you have a cash payment option?

No, we support online repayments only.

What happens if I do not pay on time?

Timely repayment of the loan amount, interest and other applicable charges is extremely crucial.

• For every day that you default on your payment, you will have to pay a penalty over and above the principal and interest amount.
• You will automatically be ineligible for availing quicker Personal Loans of a higher value from LoanFront in the future.
• Your Credit score will get affected, which will affect your ability to avail loans from any bank or financial institution in the future. Your profile will also be updated as a defaulter with various credit rating agencies.

Can I make a partial payment on the due date and pay the remaining amount later?

Yes, partial payment is acceptable only in exceptional case. It is always recommended that entire EMI amount to be paid on or before due Date.

Can I reschedule or postpone the EMI date?

Yes, LoanFront will provide option to reschedule or postpone your EMI date in case of emergencies.

Do I get a confirmation after I repay the loan?

Yes, you will receive an SMS from LoanFront confirming the repayment and an email confirming the closure of your Personal Loan with LoanFront.

Money got deducted from my account, but it isn’t visible on my system. Why?

There can be times when, due to network issues or issues with the payment gateway, money gets debited from your account but it does not get accepted by the payment gateway. In these cases, you should get your money back within 7 working days. If you do not get the money back in your account by this time, please write to us at support@loanfront.in with screenshots.

Can I recall the Loan?

Loan recall is allowed for the first 3 days of the loan. There are no charges on recall. Customers will have to pay principal and appropriate interest for the number of days the loan amount is held by the customer.

E.g. Loan with principal Rs. 30,000 with 20% interest rate is disbursed on 22nd March 2023, then the customer can recall the loan till 24th March 2023. Customer decided to repay the loan on 24th March 2023 then customer will have to pay 3-day interest and principal i.e. Total payable of Rs. 30,049.

Can I preclose/foreclose the loan?

Loan foreclosure/Early closure of the loan is the full repayment of the outstanding loan amount in one payment instead of paying multiple EMIs. If a customer has additional funds that the customer would like to use to repay the loan, he/she can opt for the early loan closure facility.

Customers have to pay foreclosure charges for availing the option. Before we process a foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining(overdue) amount that may be payable towards your current delayed outstanding amount.

Currently, foreclosure charges are 2% + GST on the outstanding loan principal if closed within 90 days from the date of disbursal. Post 90 days from the date of disbursal, the customer will not be charged foreclosure charges.

E.g. Loan with principal Rs. 30,000 with 20% interest rate is disbursed on 22nd March 2023 and customer decides to foreclose the loan on 10th April 2023, then customer will have to pay 20-day interest, principal and foreclosure charge of 2% + GST i.e. Total payable of Rs. 31,042.

Can I partially pay my EMI/Loan?

Currently, Part-prepayment of EMI/loan is not allowed. However, customers can choose to repay the next unpaid EMI(s) before its due date.

How do I check my credit limit?

If you need to check your credit limit or maximum disbursement amount, you can do so directly on the LoanFront app. The app should provide clear information about your approved credit limit, enabling you to understand the maximum amount you can access.

What does "credit score" mean to you?

In order to avail loans from Banks, NBFCs and other financial institutions, your credit score plays a major role. A good credit score will help you to avail loans easily with better interest rates and higher loan amounts. We suggest you exhibit good financial discipline by clearing your EMIs and other dues on time so as to improve your credit score.

What is meant by credit report inquiry and creditworthiness?

There will be a credit report inquiry made whenever you borrow from LoanFront. This inquiry is typically conducted after you submit the loan application. The purpose of the credit report inquiry is to assess your creditworthiness and determine your eligibility for the loan. It's important to note that such inquiries are common in the loan application process and are used by lenders to make informed decisions about loan approvals.

What is the minimum Credit Score required to qualify for a Loan on LoanFront?

Each Lender on the LoanFront platform has their own set of eligibility criteria. A higher credit score will enhance the likelihood of loan approval and enable you to access larger loan amounts at more favorable interest rates. Loan eligibility is determined by various factors, including your repayment history and the length of your credit profile. We strongly recommend maintaining a good credit score by ensuring timely payment of your EMIs.

In what ways does this loan impact my credit rating?

Your credit score is generally impacted if you fail to make loan EMI payments on time or if you miss payments altogether. Consistent and timely repayments, on the other hand, have a positive effect on your credit score and can contribute to its improvement over time. Maintaining a good credit history by meeting your financial obligations demonstrates responsible financial behavior and positively influences your creditworthiness.

I got rejected, how will that impact my credit score?

In general, a single loan application rejection is not likely to have a significant impact on your credit score. However, it's important to note that if you have multiple loan inquiries within a short period, regardless of whether they were approved or rejected, it can potentially impact your credit score. Each inquiry, known as a hard inquiry, can have a small negative effect on your score.

It's advisable to be mindful of the number of loan applications you submit within a short timeframe, as excessive inquiries may be interpreted as financial distress or a higher credit risk.

What is the Policy on Asset Classification?

Asset Classification in the Event of the Default - According to the Master Circular titled 'Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances' with DOR.No.STR.REC.55/21.04.048/2021-22 dated October 1, 2021. Lenders have to recognize the stressed borrower accounts and classify it into special mention accounts or NPA accounts. Mechanism to determine the asset classification for any account as Special Mention Account (SMA) and Non-Performing Asset, in case of default by any customer, shall be as follows:

If the EMI is not paid on or before the due date and the loan is overdue, then the account shall be classified as the SMA-0.

If the EMI remains unpaid and it is overdue for more than 30 days then, the account shall be classified as SMA-1.

If the EMI remains unpaid and it is overdue for more than 60 days then, the account shall be classified as SMA-2.

If the EMI remains unpaid and it is overdue for more than 90 days then, the account shall become NPA.

Once an account is classified as NPA, it may be upgraded as "standard" only after the entire arrears/ all the overdue interest and principal and penalties are paid in full.