close
A N S C O R
Apply for a Loan
Apply for a Loan

General FAQ’s

Regular FAQ’S

Frequently Asked Questions

  • 1. What is Aapka Apna Loan (AAL)?

    AAL is a short-term loan product designed for self-employed vendors and shopkeepers who use QR Code or POS transactions for their daily business. It provides quick and easy access to funds for personal or business needs.

  • 2. Who is eligible to apply for AAL?

    You can apply if you are a self-employed vendor or retailer (owned or rented shop), a shopkeeper with regular QR Code/POS transactions, or a self-employed individual operating from an owned house (except transport business).

    Not Eligible: Transport businesses (home-based), cab/auto drivers, salaried employees, street stalls, gold jewellers, liquor shops, seasonal businesses (e.g., crackers, mangoes), and similar restricted categories.

  • 3. How much loan amount can I get?

    Minimum: ₹10,000

    Maximum: ₹1,00,000

  • 4. What is the loan tenure?

    You can choose between 40 days or 60 days.

  • 5. What is the rate of interest?

    Daily ROI: 0.40%

    40 days: 16% (total)

    60 days: 24% (total)

  • 6. Are there any processing charges?

    A processing fee of 3% + 18% GST will be charged on the approved loan amount.

  • 7. When do I need to start repayment?

    Repayments begin on a daily basis (EDI) from the second day (T+2) after disbursement and are auto-debited from your account.

  • 8. Are there late payment penalties?

    Yes. A charge of ₹200 per bounced EDI will apply.

  • 9. What are the unique benefits (USPs) of AAL?

    • No CIBIL check
    • Zero foreclosure charges (after 30 days)
    • Zero prepayment charges
    • Minimal documentation
    • Short tenure (40/60 days) to avoid long debt burden
    • Doorstep service for hassle-free processing
    • Quick disbursement (within 72 hours)

  • 10. What documents are required?

    • Latest 3 months’ QR/POS account statements (Paytm not accepted)
    • Shop photos (inside & outside with name board visible)
    • KYC documents (Address Proof & PAN card)
    • Shop Act / Gumasta / Udyam Aadhaar / FSSAI license
    • 4 references (2 relatives + 2 friends)
    • Owned shop/house: Latest electricity bill/gas bill/Aadhaar/Voter ID/Driving Licence/Passport
    • Rented shop/house: Notarized rent agreement (valid for 90+ days)

  • 11. How can I use the loan amount?

    • Shop repairs or renovation
    • Stock/inventory purchase
    • Rent payment
    • License renewal
    • Personal financial needs
    • Emergency expenses
    • Repayment of existing loans

  • 12. How long does it take for disbursement?

    Once documentation and verification are completed, funds are disbursed within 72 hours.

  • 13. Is there a foreclosure option?

    Yes. You can foreclose the loan after 30 days, with zero foreclosure charges.

Go To Top