Welcome to Jainx Financial Consultancy Services Pvt Ltd.

Faq’s

Find answers to all your queries about our service.

  • 1. Is car Loan being available for purchase of electric car?

    Ans: Car Loan is available for Purchase of New Car, Electric Car and Old Car.

  • 2. Who are eligible for Car Loans?

    Ans: Salaried persons, Business Persons and Professionals are eligible for Car Loans.

  • 3. What is the basis of calculating Eligibility of Car Loans?

    Ans: Quantum of Loan eligibility is assessed on the basis of Net Monthly Salary in salaried class and Gross Cash accrual for business Persons.

  • 4. Whether lending institutions provide loans for the cost of insurance of the vehicle?

    Ans: Lending institutions considers the loan amount at on road Price of the vehicle which includes Ex- showroom cost, insurance & registration charges less stipulated margin.

  • 5. Why Lending institutions insists applicant’s bank statement for last 3 /6 months.

    Ans: To understand the financial disciplines such as number of cheques returned, routing of business transactions in personal account or vice versa, regularity of payment of Loan EMIs, type of banking transactions compared to customer profile etc.

  • 6. What sorts of data/ documents need to be submitted by an applicant if he/she wants to make an application on Digital Lending Platform?

    Ans: In preliminary stage, ID Proof, Address Proof, Contact Details, type and amount requested be submitted.

  • 7. How the Loan eligibility is determined on the Digital Lending Platform?

    Ans: Gross Monthly Salary, Deductions such as statutory and EMIs, Gross Cash Accruals (NPAT, Depreciations and Interest) etc.

  • 8. Can an applicant apply without adding a co-applicant detail or is it mandatory to add a co-applicant?

    Ans: An applicant can complete the application process without adding a co- applicant. Though, adding a co-applicant(s) might increase the chances of getting higher loan eligibility in case of Home Loan and Car Loan.

  • 9. Is it mandatory to buy insurances policy with Personal Loan?

    Ans: This is optional and purely at the discretion of the Borrower. However, it is always advisable to get a liability/life insurance cover so that family members don’t suffer in case of any unfortunate event.

  • 10. Can a NRI get Home Loan?

    Ans: Yes, as RBI guidelines, the repayment of housing Loan by NRIs can only be made by remittances from abroad through normal banking channels or through NRE /NRO account or out of rental income derived from the impugned property. The amount must be payable in Indian Rupees only.

  • 11. What are the papers/documents generally sought by lenders for considering a loan demand of a retail loans.

    a. Prescribed loan application form
    b. Latest Photograph 2 Nos
    c. Identity Proof duly attested by self
    d. PAN/TIN Copy duly attested by Self
    e. Residence proof of the Applicant.
    f. Proforma Invoice of the Authorized dealer/ quotation from builders/Agreement to Sales/Estimate by an architect or Civil Engineer.
    g. Allotment Letter
    h. In case of salaried person, salary slip for last 3 months and bank statement for last 3 months or ITR or form 16 of the latest one year
    i. In case of businessman: last 3 years Balance sheet and profit & loss, ITR copies of last 3 years, and bank statement of business account for last 3 months.
    j. In case of businessman: last 3 years Balance sheet and profit & loss, ITR copies of last 3 years, and bank statement of business account for last 3 months.
    k. CIBIL Report
    l. ECGC-SAL/RBI Defaulter list verification
    m. CERSAI Verification
    n. Search Report and Valuation Report from approved advocate and valuer respectively.