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We will match you with a loan program that meet your financial need. In short term liquidity, by striving to make funds available to them within 24 hours of application.

Bank Interest Rate

Interest Rate is an important key feature of a loan. As per the Reserve Bank of India, the banks need to choose an external factor in order to decide the interest rate. In this, the repo rate is one of the popular and key indicators. Apart from the quantitative variants, interest rates also vary in quality.

Processing Charges

The processing fee is charged for the loan application and depends on the principal loan amount. Be it a home loan, car loan or personal loan, banks levy a processing fee for every loan application. It is usually 0.25%-2% of the principal amount of the loan. However, in some cases, banks may offer zero processing fees as a part of their promotional offers.

Prepayment and Partial Payment

Prepayment of the loan amount is an option to repay the remaining principal amount, after paying a certain number of EMIs. Banks generally provide this option for the reimbursement of personal loans. However, some of the banks may charge 2-3% of the remaining principal in order to proceed with prepayment.

As the name suggests, Partial payment is an option to pay a part of the remaining loan amount to bring down the principal amount. This proves to be utilitarian in two ways. First, it chips the remaining principal loan by that amount and subsequently brings down the EMI. Secondly, this also lowers the interest amount.

Update in Interest rates

At 91moneybazaar we understand that paying loan EMIs are a real burden. Hence it's our interest to update the real-time best available rates from all the banks. We take it as our responsibility to update the Interest rates on a daily basis to provide you with the current rates on any given day.

Loan amount and Eligibility

A loan is a financial agreement between the lender and the borrower. The agreement contains the details of the sum dispensed to the borrower and also states the amount of interest alongside the principal sum to be paid within a specified period of time.

Most banks and lending institutions have a rigid set of qualifying factors to determine the eligibility of candidates seeking out for any loans. There are many parameters like CIBIL score (creditworthiness), age factors, other loans, current salary, other income, IT returns, residential proofs etc., based on which loan eligibility is derived by banks. To determine eligibility for loans, banks and lenders often request documentation such as; passport, aadhar, pan card, voter ids, income proof etc.

It is advised to check eligibility using a loan eligibility calculator and an online EMI calculator to calculate loans and EMIs.

Step-wise Procedure to Apply for Loans through -

1. Check what loan you looking for: Home Loan, Car Loan, Personal Loan, Two Wheeler Loan, Credit Cards, Loan Against Property, Business Loan, Used Car Loan

2. Use the calculator page to get an idea about the amount to be paid as instalments for a particular loan.

3. After getting an idea of EMIs, enter your personal details into the respective fields.

4. We will show you the list of the best available loans in respective banks as per your requirement.

5. That's it. You are done. You can choose the bank and loans to fulfil your desire

Things to know before applying for a loan:

Floating and fixed interest rate options

Factors like the repo rate, cash reserve ratio (CRR) and several other regulations by the government affects the interest rate. Moreover, after the recent notification by the Government of India, the banks are allowed to choose any of the external market factors to decide the interest rates. A borrower can choose between fixed EMI and floating EMI depending upon his/her preference.

Fixed Interest Rate: As the name suggests, the fixed interest rate is not influenced by any factors and remains constant as per a pre-decided figure. Loans availed on the basis of fixed interest rates have a fixed EMI amount for amortization. This type of loan is best for people who have strict budgetary constraints.

Floating Interest Rate: Floating rate EMI, as the name suggests are variable, i.e; is subjected to change with the market scenario. It has a base rate and a floating element and the latter varies directly if there is a change in the former. 

Margin money

Margin money happens to be the amount of money that the borrower needs to pay by himself out of the total amount of the loan. This money is paid from your funds while the bank pays the rest of the capital.

Credit appraisal

By definition, a credit appraisal is a process that involves evaluating your credit history to arrive at a decision in regard to your creditworthiness. Your borrowing and repayment patterns are analyzed, your current debt is analyzed, your credit score is analyzed, and all of this makes up the credit appraisal process.

Disbursement (Full, Partial, Advance)

Disbursement can be categorized as the act of paying or disbursing money. In case of loan disbursement, it would specifically mean that the amount is to be disbursed as a loan which will be paid back by the lender on mutually agreeable terms.

  • Full Disbursement: The name is suggestive enough and full disbursement means that the entire loan amount is given to the borrower in a single instalment.

  • Partial Disbursement: In some cases, the entire loan amount is not disbursed in one go. Here the borrower cannot expect the lender to pay the amount in one go. The loan disbursement thus comes in stages.

  • Advance Disbursement: In cases when a borrower has a good reputation of repaying loans, the banks are willing to shell out the entire loan amount in advance. The past credit score of the borrower is an indicator in this kind of disbursement and such loans fall under the category of advance disbursement.

Sanction Letter

As the name indicates the sanction letter or the loan sanction letter is issued by the bank or the lending agency to the applicant of the loan. This letter acts as proof that the loan applicant is eligible for the amount of the loan for which they might have applied. This sanction letter also consists of Terms and Conditions which the lender might like to apply for the loan amount.


It is simply the act of paying back a loan in instalments. These instalments are known as Equated Monthly Instalments or simply EMI. EMI depends upon the amount of loan vouchsafed, interest rate and the time period under which the loan is to be repaid.


A mortgage Loan is something in which property or real estate is used in the form of collateral. The borrower in such cases enters into an agreement with the lender which usually is a bank and the borrower receives cash up front and thereafter makes payment for a mutually decided term until the entire amount is paid back.

Home Equity Loan

Home Equity Loan, also known as “Second Mortgage” is a kind of consumer debt where loan amount depends on the current market value of the house and mortgage balance due to the homeowner.

Pre-approved property

The literal meaning of pre-approved property is that the titles and any documents related to the property have been examined critically by the bank or the financial institution when requested by the builder.

Equated Monthly Instalments

Generally, loans are reimbursed as monthly instalments with the addition of pre-determined interest. These instalments are known as Equated Monthly Instalments or simply EMI.

Advance Disbursement Facility

The instances when the lender of the loan may be interested in disbursing the entire amount of the loan before the construction of the building is complete. This advance transfer of payment or credit is termed as Advanced Disbursement Facility. This advance transfer of payment or credit is termed as Advanced Disbursement Facility


Pre-EMI is an option that is available for would-be homeowners in the phase of construction of their house. The entire amount of the loan amount is not disbursed at once; instead, a part of it is transferred at specific intervals.

Down Payment

Down Payments are a payment made up-front when purchasing a vehicle, property, or any other expensive asset. The amount generally consists of a part of the total cost price of the item that the buyers have to pay out of their pocket. The remaining amount is usually financed with a relevant mortgage loan.

Freehold Property

The term literally defines its name itself. It means the property in question is free from the hold of any other entity except the owner of the property. The owner, in this case, enjoys complete ownership of the property and can use the property for any purpose, be it selling, renovating or transferring. 

Leasehold Property

The leasehold property has been leased for a certain amount of time to the developer. This lease duration generally ranges from a period of 30 years to 99 years. The lease in most cases can be extended upon the expiry of the lease term, but that always depends upon the prevalent conditions at that point in time.

Post Dated Cheques

A post-dated cheque is Cheque that is written with a yet to come date. The banks also have a set of rules that govern cheque payments. However, many a time, banks discourage post-dated Cheque's.

Processing and Administrative Fees

The loan processing fee is charged for the loan application and depends on the principal loan amount. Be it a home loan, car loan or personal loan, banks levy a processing fee for every loan application. It is usually 0.25%-2% of the principal amount of the loan.

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