You can close a loan at any time by visiting our website and raising the request. Before you close a loan, you should have cleared all pending dues, interest, and principal. There will not be any pre-closure charges.

With a loan, the amount is deposited into your bank account, and interest starts accruing from that day, which needs to be repaid in EMIs. A credit line, on the other hand, gives you the option to not utilize the amount from day one. You only consume the amount you need when you need it, and no interest will be charged for an unused credit line. Interest will be charged only on the amount you draw from it. Additionally, there is no need to repay the principal (i.e., no EMIs) as long as you keep servicing the interest.

Since the entire process is digital, we don’t require any physical documents. All requisite documents will either be fetched in digital form or generated (e.g., loan agreement) and signed digitally.

You can keep it open as long as you like. In some cases, you may have to renew it once a year for a minimal renewal charge.

No, you can pre-close a loan at any time absolutely free of charge.

This could be due to one of the following reasons: The MF scheme has a lock-in period, e.g., ELSS, and the units are still in that lock-in period, or the lender is unable to accept the MF scheme as collateral, making it ineligible for a loan.

No, we do not need a credit score to issue loans against mutual funds.

We have partnered with multiple loan providers. The lender's details will be clearly mentioned in the loan agreement document.

You will receive a grace period and sufficient notifications to repay the loan. However, in an unfortunate event...

No, you pay interest only on the amount consumed from the credit line.

Interest must be serviced in full once a month.

No, as long as you are servicing the monthly interest payment, you do not have to pay the principal amount.

QuickLend is a Lending Service Provider, a platform that offers the best possible interest rates and experience for borrowers by partnering with multiple lenders.