Who are eligible to apply?

  • An Indian Citizen
  • Above 18 years of age
  • Employed, self-employed or businessman
  • Ability to repay laon amount

How much loan can I get?

We take into account several factors before deciding how much to lend you. These include your credit rating, your income and household expenses. We lend responsibly. We always try to lend the amount that we feel sure you can pay back

Can I take further loans above my existing one?

Presently Shubh Labh does not offer top-up loans, Once you repay your existing loan then you become eligible to apply for a fresh loan. It will be less burdensome for you too to clear one loan before going in for another.

How soon after my last loan can I get another?

Immediately, provided you have repaid your earlier one on time.

What is required along with my application?

Details of your bank account where we will deposit the loan

  • A mobile phone number
  • Proof of the personal identity i.e. PAN card
  • Address proof i.e. Voter id Card or Driver License or Passport
  • Employment proof

Will I get an immediate feedback from you?

Normally we take minutes to approve your application. Sometimes, if you have not provided sufficient information it may take some time as we have to call you for further details. Sometimes we may have to call you for confirmation of the details you provided.

Will you be contacting my employers?

We will not contact your employers regarding the loan, nor will we mention anything about it. We may have to contact the accounts department of your employers to carry out a few simple checks.

How much can I borrow from Shubh Labh?

At present you can borrow Rs. 1,00,000 it may be increased in future depending on your repayment history and credit score.

What is the reason for declining my application?

If we are not able to lend you this time it is because we feel it is in your best interest not to borrow money now. This is in keeping with our responsible lending practice. If loan is in principal approved and communicated to applicant but applicant did not complete the documents or did not sign the agreement within 2-3 days, it will be automatically rejected. Applicant would need to re apply after one month.

Rates and Terms:

Rate of Interest

Minimum 2% pm

Maximum Loan Amount

Rs. 1,00,000/-

Minimum Loan Amount

Rs. 20,000/-

Processing Fees

Rs. 3000/- plus tax if any

Cheque bounce charges

Rs. 600/- per cheque bounce plus tax if any

Late payment charges

Rs. 100/- per day till the date of delay plus tax if any

Period of loan

Minimum of 30 days and Maximum of 180 days