Question 1

What is Rupyy?

Accepted Answer

Rupyy is a digital lending platform where you can apply for a loan with our wide range of lending partners. There is no paperwork involved, and you just need to submit a soft copy of your documents. In Rupyy, you have multiple loan options: personal loan, car loan, loan against car, two wheeler loan and business loan.

Question 2

How to apply for a loan on Rupyy?

Accepted Answer

Get loan offers on Rupyy by filling out the online application form. To begin with:Provide your mobile number Click on the “check offer” buttonNow, the eligible offers will be displayed to you.

Question 3

What are the eligibility criteria for a loan on Rupyy?

Accepted Answer

To apply for a loan on Rupyy, you need to meet the basic eligibility. This includes age, income, work experience, etc. Based on the information you provided, we’ll evaluate your profile for eligible loan offers.

Question 4

What are the interest rates and processing fees on Rupyy?

Accepted Answer

The actual interest rate and processing fee may vary based on your chosen loan offer. Rupyy partners with multiple lenders, each with its interest rate and processing charges.

Question 5

What is a personal loan?

Accepted Answer

A personal loan is an unsecured loan provided by financial institutions, which can be used for various personal expenses, such as consolidating debt, financing major purchases, or covering unexpected expenses. Unlike secured loans, personal loans do not require collateral.

Question 6

How does a personal loan work?

Accepted Answer

A personal loan is offered to you on the basis of your creditworthiness for the lump sum amount. After meeting your needs, you can repay the loan in equal instalments.

Question 7

When should I borrow a personal loan?

Accepted Answer

Apply for a personal loan when you need a large sum of money for situations like renovation, wedding, medical emergency, etc.

Question 8

What can I use a personal loan for?

Accepted Answer

You can use a personal loan for anything. If you need money and don’t know where to get a lump sum amount, apply for a personal loan. This way, you can meet your needs and repay them later.

Question 9

What is a two-wheeler loan?

Accepted Answer

A two-wheeler loan gives you financial support to purchase a new bike. Using the loan, you can cover 85-90% of your purchase price.

Question 10

Where to get a two-wheeler loan?

Accepted Answer

Rupyy partners with top lenders to offer you the best two-wheeler loan. With us, you can finance your dream bike with no hassle.

Question 11

How to get a two-wheeler loan?

Accepted Answer

To apply for a loan with Rupyy, you need to provide your mobile number, and our representative will guide you through the process.

Question 12

Who can get a two-wheeler loan?

Accepted Answer

To apply for a two-wheeler loan with Rupyy, one must fulfill the following: Age Minimum age of 18 years Credit Score: Decent credit scoreCredit History: No records of credit default

Question 13

What is the highest loan amount I can borrow with a used car loan?

Accepted Answer

You can borrow up to Rs. 75 Lakhs or more in used car loans. The loan amount is decided based on the price of the used car, as well as other factors like credit score, income, and lender’s policy.

Question 14

What is the interest rate on my used car loan?

Accepted Answer

The lender determines the interest rate of a used car loan, factoring in your income, repayment history, and other factors. The starting rate is 9.80%, but the actual rate may vary depending on your lender.

Question 15

How much time will it take to approve my used car loan?

Accepted Answer

The approval process for a used car loan varies depending on your application. It could take a few hours to a few days depending on the lender's verification process.

Question 16

Can I reduce my 2nd hand car loan interest rate?

Accepted Answer

A good CIBIL score of 750 or more can help you secure a used car loan at a lower rate. Lenders tend to prefer applicants with a strong repayment track record.

Question 17

What is a car loan, and how does it work?

Accepted Answer

A car loan allows you to purchase a new car in easy installments. Instead of paying the price upfront, you just have to pay the down payment. The lender will finance the vehicle, and you can repay the loan in monthly installments.

Question 18

What are the benefits of taking a car loan?

Accepted Answer

The benefits of a car loan are:Easy purchase for the desired car Maximum loan amount Fixed rate of interest Finance 90% of the car’s on-road price

Question 19

What is the maximum loan amount I can get for a car loan?

Accepted Answer

The maximum amount of car loan is Rs. 1 Crore, but it may vary based on the car’s on-road price and your repayment capacity.

Question 20

Can I get a car loan for a used vehicle?

Accepted Answer

Yes, you can get a used car loan with Rupyy. If buying a new car is out of your budget, you can finance a pre-owned car with our used car loans.

Question 21

What is a business loan, and how does it work?

Accepted Answer

This loan covers business-related expenses. Once you receive it, you can pay the borrowed amount in equal monthly installments.

Question 22

What types of business loans are available?

Accepted Answer

There are two types of business loans: secured and unsecured. Secured loans require assets like property or machinery, while unsecured loans are based on business profitability and other criteria.

Question 23

How can a business loan help my company grow?

Accepted Answer

A business loan can provide the capital needed for expansion, improve cash flow, and enhance a company's credit profile.

Question 24

What is the minimum and maximum loan amount I can get?

Accepted Answer

There is no specific minimum bracket for a business loan, but it can go up to Rs. 1-2 Crores.

Question 25

What is a loan against a car?

Accepted Answer

A loan against a car is when you use your personal vehicle as an asset to borrow money.

Question 26

How does a loan against a car work?

Accepted Answer

The lender has the rights to your vehicle during the loan tenure. Once you repay the loan, you can get back your car with no liabilities.

Question 27

Can I continue using my car after taking out a loan against it?

Accepted Answer

Yes, you can use your car even if you have taken a loan against it. The lender holds the title until the loan is fully paid off.

Question 28

What is the loan amount I can get against my car?

Accepted Answer

The amount you’re eligible for depends on the current market value of your car and how old it is.

Question 29

What is a Green Loan for electric vehicles (EVs)?

Accepted Answer

Lenders have introduced green loans to encourage green transportation. With these, you can finance an e-vehicle and contribute to a healthy environment.

Question 30

How is a Green Loan different from a regular bike loan?

Accepted Answer

Green loans finance only electric vehicles (e-vehicles), whereas regular loans can finance petrol or diesel bikes.

Question 31

What types of electric vehicles can I purchase with a Green Loan?

Accepted Answer

You can finance any e-bike with the Rupyy green loan. Complete the application form and get quotes on your loan limit and eligible e-bikes.

Question 32

Can I get a Green Loan for a second-hand electric vehicle?

Accepted Answer

No, we only finance green loans on new electric vehicles.

Resource Centre

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