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Articles For Help

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Why Choose Lending

We offer customized loan solutions to meet your unique financial needs. With competitive interest rates and flexible repayment terms, you can secure the funding you require effortlessly. Our efficient application process allows for quick access to funds, and our dedicated support team is always available to guide you and answer any questions. Apply for a Loan Today

Looking for a Home Loan

Discover personalized home loan solutions tailored to your specific needs, featuring competitive interest rates, flexible repayment options, and swift approval processes to help you realize your dream of homeownership. We understand that every individual's financial situation is unique. That's why we offer a range of home loan products designed to accommodate various requirements, whether you are purchasing a new home Apply For Home Loan
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Fuel Your Business with

Unlock the capital necessary to elevate your business with our flexible loan options designed specifically for entrepreneurs and business owners. We understand that access to funding is crucial for growth, and we are committed to providing you with the financial resources you need to succeed. Our loan offerings feature quick approval processes, ensuring that you can access funds promptly when you need them most. Apply For Mortgage Loan
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Do you have any question? Read FAQs

Who is Eligible to Apply for a Loan?

The eligibility criteria for applying for a personal loan through our digital lending app are clear and straightforward. Our lending partner’s basic requirements are: salaried or self-employed individual, monthly household income of Rs. 25,000 or more, income must be credited to a bank account, minimum CIBIL score of 650, age between 21 and 57 years.

What are the Maximum and Minimum Loan Amounts I Can Apply For?

The minimum amount you can borrow through the Lending Spheres website from our digital lending partners is ₹5,000. The maximum loan amount is determined by our lending partner using their underwriting model and can go up to ₹10 lakhs.

As a self-employed individual, am I eligible for a loan?

Yes, Lending Spheres, through its digital lending partner, offers loans to self-employed applicants who meet the following eligibility criteria: a monthly household income of Rs. 25,000 or more, income credited to a bank account, a minimum CIBIL score of 650, and an age between 21 and 57 years.

Is collateral or security required for this loan?

No, you do not need to provide any collateral or security for a personal loan.

Will I be able to obtain a loan if I receive my salary in cash?

Currently, our digital lending partners only offer loans to individuals who receive their salaries through bank transfers directly from their employers. Unfortunately, they are unable to provide loans to those who are paid in cash.

I received a lower salary for one month compared to the minimum required salary. Can I still apply?

Yes, you can apply. Our verification team may contact you later to verify your salary slip.

Can I borrow any amount I need, up to ₹5 lakh?

Our Digital Lending Partner determines the maximum amount you are eligible to borrow based on various factors, including your credit score, income, and existing loans. You will not be able to borrow more than this amount at this time. However, if you maintain a consistent repayment record, you may qualify for a higher amount in the future.

Am I allowed to change the loan amount after I’ve submitted my application?

No, you cannot change your loan amount in the app after submitting your application. If you made any mistakes during the application process, please email us at care@lendingspheres.com. Please note that once you have reviewed and submitted the Loan Agreement, you cannot alter the loan amount or its terms.

Is there a processing fee for the loan? If so, what is the rate?

Yes, our digital lending partners do charge a processing fee for your loan application. This fee starts at 2% of the loan amount and is determined by our partners. The applicable processing fee will be deducted from the total loan amount, and the remaining funds will be transferred to your account.

What is the minimum number of EMIs I need to pay to close the loan?

ou have the option to foreclose or pay off your loan at any time without incurring a penalty, depending on the tenure of your loan:
Loans with a Tenure of Up to 6 Months: Foreclosure is not allowed.
Loans with a Tenure of 7 to 18 Months: Foreclosure is permitted after you have made 6 EMI payments.
Loans with a Tenure Greater than 18 Months: Foreclosure is allowed only after you have made 12 EMI payments.
Feel free to reach out if you have any questions about this policy!