FREQUENTLY ASKED QUESTIONS

+ Is your company legitimate? Is my loan information safe?

Holding an RBI-approved NBFC qualification, all loan processes comply with the Indian Digital Lending Guidelines. Your personal and financial information is stored using bank-grade encryption technology and is used solely for loan approval; it will never be disclosed to any third party. Please rest assured.

+ How much can I borrow? What is the interest rate? What is the repayment period?

Personal microloans range from 5,000 to 500,000 rupees, with annual interest rates fluctuating between 12% and 18% depending on your credit score and loan term. Repayment terms are flexible, ranging from 3 to 36 months, allowing you to choose based on your repayment ability.

+ How long does loan approval take? When will the money arrive in my account?

After submitting your documents online, the system will conduct a preliminary review in real time and provide the results within 24 hours. Once approved, you will sign an electronic contract and complete identity verification. Funds will then be transferred to your linked bank account within 24 hours.

+ What happens if I'm late? Will it affect my credit score?

If you anticipate being overdue, we recommend contacting our customer service one day in advance to apply for a grace period of up to 7 days, during which there will be no additional penalty interest. If the overdue payment exceeds the grace period, a penalty interest of 0.05% per day will be charged, and the overdue record will be uploaded to credit institutions such as CIBIL, which will affect future loan and credit card applications. Therefore, we suggest you try your best to repay on time.

+ Can I repay early? Are there any penalties for early repayment?

Early repayment is supported with no penalty fees.

+ What are my eligibility requirements for applying for a loan?

It's very simple; all you need to do is be an Indian citizen and fill out a form for back-end review.

+ I don't have official pay stubs or credit records, can I still apply?

Of course! We understand that not everyone has a traditional credit history. We use advanced technology to assess your credit using alternative data such as your bank transaction records. Our goal is to serve customers like you who are often overlooked by traditional banks.

+ How do I repay the loan? What are the repayment methods?

We offer several convenient repayment methods: We will automatically deduct the amount from your linked bank account on the repayment date, which is the most hassle-free option. You can transfer funds to our designated UPI ID through any UPI application. You can also transfer funds directly through online banking.

+ Is my personal data safe? Will you share my information?

Absolutely secure. We use bank-grade encryption to protect all your data. Your Aadhaar and PAN information are used only for legal KYC verification. We will never sell your data to third parties for marketing purposes without your explicit consent.

+ If I have a history of loan delinquency, will it affect my application?

There will be some impact. We mainly rely on the company's backend algorithm to determine loan amounts and interest rates, and it can generally handle most of them.

+ What if I can't repay? Will they contact me for debt collection?

We offer a grace period, but we will strive to resolve the issue as soon as possible. We respect our customers and will not resort to violent debt collection tactics, but we will remind you to make payments via phone or text message.

+ Is this loan reliable? Could I be scammed?

We belong to Votiko, a company with proper licenses and strict regulations, so you can use our services with confidence. We are committed to helping everyone overcome financial difficulties.

+ I'm a freelancer, I don't have a fixed salary, so that shouldn't be a problem, right?

It won't affect anything, as long as your score is high enough.

+ What specific information do I need to fill in on the form? For example, do I need to fill in my home address and workplace?

The core information to be filled in the form includes personal basic information , bank account information , and some identity-related information.

+ Besides filling out the form, do I need to submit any other supporting documents? For example, a photo of my ID card or a screenshot of my bank statement?

In addition to filling out the form, you need to submit a photo of your Aadhaar card and work identification; no other documents are required.

+ Is there a time limit for filling out the form sent after adding me on WhatsApp? For example, is it required to submit it within a few hours?

There is no clear time limit for filling out the form sent after adding WhatsApp, and you can arrange the filling flexibly according to your own situation; however, it is recommended to submit the form within 72 hours after receiving it to avoid form invalidation due to system information updates and affect the review progress.

+ Will the Backend system call me to verify my information during the review process?

In most cases, the system will automatically complete the verification using data such as bank statements and identity information, without the need for telephone verification; only when the system has doubts about some information will customer service personnel contact you via the mobile phone number you provided to verify.

+ What tools are needed for signing electronic contracts? Is it done via WhatsApp, or do I need to download another app?

No additional APP needs to be downloaded for electronic contract signing, which can be completed in WhatsApp; we will send a message with a signing link, click the link and complete the electronic signature according to the prompts.

+ What credit score do I need to get the maximum credit limit of 500,000 rupees?

There is no fixed credit score threshold for the maximum loan amount. The system will comprehensively evaluate factors such as credit score, bank transaction stability, and past repayment history to calculate the maximum loan amount.

+ With the same credit score, will the annual interest rate be higher for a longer loan term? For example, will the interest rate be higher for a 36-month loan than for a 3-month loan?

With the same credit score, the loan term is positively correlated with the annual interest rate. Usually, the longer the term, the slightly higher the annual interest rate.

+ Once the credit limit is approved, will it expire if I don't use it immediately? For example, how long after that will the credit limit be revoked if I don't use it?

The approved limit has a 60-day validity period. If no loan disbursement application is initiated within 60 days, the limit will automatically become invalid; if you need to use it, you need to resubmit the form for a second review. The second review usually simplifies the process and the review speed is faster.

+ If I pay off my first loan on time, will my loan amount be increased and the interest rate decrease when I take out another loan?

If the first loan is repaid on time and in full, and there are no other bad credit records during the period, the limit will usually be increased by 10%-30% and the annual interest rate will be reduced by 1%-3% when applying next time; the system will take the first repayment record as an important evaluation basis to optimize your credit rating.

+ What time will the automatic deduction be made on the repayment date? If my bank card balance is insufficient on that day, will it be deducted again?

The automatic deduction time is 10:00 a.m. and 4:00 p.m. on the repayment date, twice in total; if the balance is insufficient for the first deduction, the system will make a second deduction at 4:00 p.m.; if the second deduction still fails, a text message reminder will be sent, and you need to repay manually through UPI or online banking before 24:00 on the same day to avoid overdue.

+ When making a repayment using UPI, what information do I need to include in the remarks? For example, the loan contract number or my name?

When repaying via UPI transfer, you must note "loan contract number + name". The contract number can be found in the electronic contract or WhatsApp message records; if no note is made or the note information is incomplete, the repayment may not be credited in time and affect the repayment record. It is recommended to take a screenshot and save it after making the note for verification.

+ Can I only pay off the entire loan amount early, or can I pay off only a portion of it early?

Both partial early repayment and full early repayment are supported; for example, if you borrow 50,000 rupees, you can choose to repay 20,000 rupees first, and the remaining 30,000 rupees will still be executed according to the original repayment plan, and the interest will be recalculated based on the remaining principal; partial early repayment does not require application, just transfer the money and note "partial early repayment + contract number".

+ Will I receive a repayment receipt after making the payment?

After successful repayment, a receipt will be sent within 10 minutes via three channels: WhatsApp message, SMS, and email. If you do not receive it, you can contact customer service via WhatsApp to have it resent.

+ If the linked bank card is lost after the loan is disbursed, and a new bank card is needed to receive subsequent repayments or refunds, what should be done?

You will need to provide customer service with photos of the front and back of your new bank card and your bank account information via WhatsApp. Customer service will complete the bank card change within 24 hours and send a confirmation message after the change. Subsequent repayments and refunds will be automatically transferred to the new card.

+ If the payment is overdue beyond the grace period, will there be any other fees besides the daily penalty interest of 0.05%?

After the overdue period exceeds the grace period, only a penalty interest of 0.05% per day is charged, and there are no other additional fees.

+ If I encounter unforeseen circumstances and am unable to make timely repayments, are there any other solutions besides a grace period? For example, could I postpone repayments or adjust the repayment amount?

In addition to the grace period, you can apply for "repayment plan adjustment", which includes two options: one is deferred repayment (postponing the current repayment for 1-3 months, no additional penalty interest is charged during the deferment period, and interest is calculated only at the original interest rate); the second is to reduce the monthly payment (extend the repayment period, reduce the monthly repayment amount, and the total interest will increase slightly); you need to submit relevant certificates (such as hospital diagnosis certificate, unemployment certificate) to the customer service 7 days before the repayment date, and the adjustment can be made after approval.

+ My Aadhaar card is still being processed; I only have a PAN card for now. Can I apply for a loan first and then provide the Aadhaar information later?

You can submit the application first and use the PAN card to complete the preliminary identity verification to obtain temporary review qualification; however, you must supplement the Aadhaar card information before the final loan disbursement.

+ How do i apply for a loan?

Applying is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. Securely connect your bank information so we can assess your business without long forms, waiting in line or having to dig up old paperwork. Your association with business services who we have partnered with helps get you more fitting loans.

+ Why do small businesses use ZIPPAISA?

When asked, most business owners shared that access to capital is the single biggest roadblock to growing their businesses. With more cash flow, these businesses can hire new employees, purchase more inventory, take more orders, upgrade equipment and boost their marketing efforts.