Frequently Asked Questions Have Questions?


GENERAL

1. What does Rubique do?

As an online marketplace for financial products, we provide credit financing through partnered institutes to individuals, businesses and budding entrepreneurs. Rubique ensures end-to-end services, including sourcing, application, documentation, follow-ups with banks and disbursement

2. What can I apply for via Rubique?

Our range of consumer products includes credit cards, personal loans, home loans, and loans for cars and two-wheelers (new or used). The range of business loans include loans against property, commercial vehicle loans, construction equipment loans and business loans.

3. Why should I apply via Rubique?
Here are the top 5 reasons:
  • 1. Because we offer a range of banks and NBFC’s to choose from, it is both convenient and easy to work with. You apply through one trusted channel and we can assure you of your disbursements.
  • 2. Because you can compare a range of products with the help of our unique matchmaking algorithm. It uses your basic details to find the best deal for you.
  • 3. Because you can track your application status real-time from our website.
  • 4. Because we offer end-to-end solutions right until disbursement.
  • 5. Because by working with us, you can save about a week on your application processing time. We guarantee instant in-principal approval on your application in real-time from financial institutes.

4. Who will contact me after I input my information on Rubique’s website?

If you have submitted your requirement request to us, you will receive a call from Rubique’s staff, who will assist you with the application and documentation process.
If you have applied for an ‘in-principal approval’ product, you will receive a call from the bank to fix an appointment for document pick up.

5. Do I need to pay Rubique any fees?

No. Our service is completely free. We get paid a commission from banks and financial institutes on every fulfilment.

6. How long does it take to process an application?

Accurate information on the application and correct documentation are key to speeding things up. The sooner you submit your application with correct documentation, the faster your application is processed.

However, every bank and product has its own defined document requirement and turn-around time. We recommend you browse through the ‘Details’ section listed under each product to understand the processing time.

7. How secure is my information?

Data security is a huge priority for us. We are as concerned about the safety of your data as you are. Thus, our data security team works 24/7 to put systems and measures in place which ensure 100% protection of the information that you share with us.

8. What if my application is rejected?

This is very unlikely but if it does happen, we will help you rectify whatever shortcomings that may have led to the rejection. The application can then be reprocessed with the same institute or another one.

9. I need to understand more about the process / application / documentation, who do I speak to?

You can call us on 1800-266-0299 or send us an email at hello@rubique.com your contact information and request, we will get in touch with you.

    Credit Card

    1. How different is credit card from a debit card?

    Both cards help to simplify the way you shop.

    A debit card is linked to your savings account, so when you use it to purchase items or pay bills, your bank account is instantaneously debited to the extent of the amount paid.  

    On the other hand, a credit card allows you credit during purchase. In simple words, it means you buy now and pay later. The number of days for which you can get interest-free credit ranges from 20 to 50 days.

    2. What are the advantages of using a credit card?
    If you use your credit card sensibly, you can plan your finances wisely and avail following advantages:
    1. Paying your dues within the stipulated time helps you build your credit score.
    2. Credit card providers offer reward programs, wherein you earn reward points, cash back, and discount at merchant’s POS on purchase.
    3. Visa and MasterCard extend purchase protection and also safeguard your card in the event of a fraud.
    4. You can choose to pay your dues entirely in one go or distribute them after paying the minimum amount due every month.

    3. What are the different types of credit cards?
    Various credit cards are available to suit your need and lifestyle. Choose wisely by comparing and selecting the right one here.
    The various types of credit cards available are:
    • Airline Credit Cards
    • Lifestyle Credit Cards
    • Shopping Credit Cards
    • Cashback Credit Cards
    • Fuel Credit Cards
    • Co-branded Credit Cards

    4. How many types of cards can I choose from?

    There are essentially three types (schemes) of cards available - Visa, MasterCard and American Express. Issuing banks issue these cards to the customer. Both Visa and MasterCard are popular and accepted across the globe.

    5. What is Platinum, Gold, Silver or Classic/Executive card?

    These are terms used by issuing banks to distinguish between the card variants. The features and offers on every card segment are different.

    6. What are the eligibility norms to get a credit card?

    You have to be at least 21 years of age and below the age of 65. It is also essential to have a good credit rating.

    Credit card-issuing banks have a minimum income level requirement which serves as a preliminary qualifying point while applying for a card. This requirement varies from bank to bank, depending upon your choice of card and your risk profile.

    7. How much does it cost to own a credit card?

    The basic cost involved in applying for a card comprises of joining fee, which varies from bank to bank, and on the type of card you have applied for. Annual fees, if any, again vary from bank to bank. They fall in the range of Rs. 400 to Rs. 5000 depending upon the card type and variant.
    Other fees that should be kept in mind are – late payment, duplicate statement, cash withdrawal, cheque return charges, over-limit, etc.

    8. Are there advantages in paying through a credit card even if I have cash I can spare?

    With a credit card, you can delay actual payment of the bill by up to 50 days, thus cash need not be used during purchase. Additionally, you may also earn reward or mile points against your purchases. These reward or mile points can be used against gift vouchers, purchases or travel.

    9. Where can I use my credit card?

    You can use your credit card to buy merchandise from any merchants accepting Visa/ MasterCard or American Express cards. Credit cards can be used online to purchase products and services from e-commerce websites.

    Besides swiping the card to pay, you can also use the card to borrow funds from an ATM.

    10. What is a credit limit?

    It defines your ability to spend using the card. This is determined by your income, credit score and other parameters defined by the bank.

    Credit limit is dynamic, and banks review this limit periodically. It is either increased or decreased depending on your spending and payment patterns.

    11. How do I make monthly payment to my credit card?

    Banks offer various modes for making your monthly payments. You can do so by, depositing cash at the bank’s branch, internet transfer, cheque, NEFT, IMPS or any other format provided by the bank.

    12. What if I default on my payment?

    Firstly, you will be levied a fee for late payment.

    Secondly, all your loan transactions are collected by Credit Information Bureau of India Ltd. (CIBIL). Defaulting on a loan will show up poorly on your credit history. This could pose a problem when applying for a loan in the future.

    13. Can I use my card when I travel abroad?

    Yes. You can shop internationally using your credit card. However, keep a tab on the forex rate when you use the card internationally.

    14. How can I apply for a credit card?

    You can do it online or by contacting our call centre.

    If you apply online by filling in a brief form, you will get an in-principle approval on your query because we have partnered with several banks. This ensures faster turnaround time for your requirement.

    Our unique matchmaking algorithm ensures we match your requirement with the available options and share the result.

    One of our experts will contact you to provide information about available options and process your application. We will also arrange to get your documents and other paperwork picked up from you.

    If speaking to someone makes it’s easier for you, you can contact us at 1800-266-0299. One of our experts will contact you to provide information about available options and process your application.

    Home Loan

    1. What are the key parameters to consider while looking for a home loan?
    • Purpose of the loan
    • Whether the house you are considering to purchase is ready for possession or will you be buying a plot and constructing later
    • Loan eligibility amount
    • Interest rate and EMI
    • Processing fee
    • Pre-closure fees and pre-payment fees applicable

    2. How can I compare loans from different providers?

    All you have to do is complete the eligibility form and you will get access to customized quotes from a number of loan providers.

    You can browse, compare interest rates, EMIs, repayment charges and processing fee and make an informed decision and avail the best deal.

    3. What are the tenure options for home loan?

    A home loan can be taken for any time period between 5 and 25 years. The tenure varies as per the lender and eligibility of the customer.

    It is important to remember however that your eligibility ends after the age of 65, or when you retire – whichever comes first. So the tenure must end before either of these.

    4. Can loan be applied with co-applicant?

    Yes, you can apply for a loan with a co-applicant. All you have to do is specify it in the application form. Having a co-applicant increases your chances of availing an increased loan amount. This depends on the co-applicant’s profile, income and obligations.

    5.What is the eligibility for home loan?

    Broadly speaking, anyone aged between 25 and 65 years who is not retired is eligible.
    The following criteria are also important because they determine your potential to repay the loan:
    Purpose of the loan
    Your income
    Assets and liabilities
    Your spouse’s income, in case you are applying for a joint loan
    Qualifications
    Employment and professional experience
    Credit score and history (the prospect of getting a loan increases with a good credit score)
    Residential status
    Number of dependents

    6. How large a loan can I avail of?

    Banks or financial institutions can lend up to 75-80% of the cost of the property. You are expected to pay 20-25% of the amount as a down payment for the loan.

    For self-employed individuals, your business’ profit is the yardstick to determine the amount of loan you can avail.

    7. What is processing fees?

    This is charged by the bank or financial institute for processing your application. The charge is generally fixed or a percentage of the loan amount.

    8. Are registration, stamp duty cost covered under home loan?

    Registration charges, transfer charges and stamp duty costs apart from the actual loan amount are included in the total cost calculation of the home loan.

    9. Do I need to make a down payment?

    As per regulation, banks or financial institutions can lend up to 75-80% of the cost of the property. 20-25% of the money is expected to be paid by you as a down payment for the loan. This can be paid from your savings, investments, opting for a personal loan, pledging your investments, loan against your insurance policy etc.

    10. How long does it take to get my application processed and the loan sanctioned?

    The entire process could take anywhere between two to four weeks. It takes around a week or two for processing a home loan application if all the necessary documents are in order.

    Additionally, it may take a week or two for the bank to inspect the property papers and make the disbursement. The faster you complete documentation, the faster your application moves.

    11. Why does it long to process an application?

    It’s essential you consider factors like – interest rate, EMI, tenure, pre-payment charges before you finalize your borrowing bank. While selecting a right bank is the first step, the process further involves – application submission with requisite documentations, approval and disbursement. Considering the high value of the property, financial institutions conduct a detailed due diligence on all aspect of the applicant and the property. Hence, it takes a while to process the application.

    12. What security/collateral do I have to provide?

    Security can be in the form of a guarantee, wherein you will be required to provide references of one or two people known to you. Banks could also request your long term investments to be provided as security. They may include your life Insurance policies, shares/ units or any other security deemed fit by the bank.

    13. What are the documents required at the time of application?

    Every bank has its own set of mandatory documents to process the loan but this is a generic list:
    Identity proof – passport/ PAN card/ driver's license, etc.
    Proof of residence – passport/ ration card/ property documents/ registered rent agreements, etc. (These should preferably be in your name or that of your father or spouse.) Age proof
    Processing fee cheque
    Property documents

    For a new home loan in approved projects:
        Copy of the allotment letter/ buyer agreement
        Receipt(s) of payment(s) made to the developer
    For a loan for a resale home:
        Draft copy of sale agreement (in case of purchase transaction)
        Property sale agreement along with entire previous chain of sale agreements
        Receipt/(s) of initial payment/(s) made to the seller
        Share certificate, occupancy certificate / approved plan copy
    For balance transfer:
        A letter on the letterhead of the existing lender, stating the list of property documents held by them
        Latest outstanding balance letter from your existing financial institution on their letter head
        Photocopy of the property documents (including Own Contribution Proof)
    Loan for constructing your own home:
        Title deeds of the plot
        Proof of no encumbrances on the property
        Copy of the plans, approved by the local authorities
        Construction estimate by an architect/ civil engineer

    Additional documents as per customer segment:
        Salaried:
        Salary slips for the last 3 months
        Form number 16
        Employment stability proof
        Self-employed professional
        Education qualification certificate
        Business stability proof / ownership proof
        Last 3 years’ Income Tax Returns with computation of income
        Last 3 years’ CA-certified/ audited balance sheet and profit & loss account
        Self-employed non professional
        Last 3 years’ Income Tax Returns with computation of Income
        Education qualification certificate.
        Last 3 years’ CA-certified/ audited balance sheet and profit and loss account
        Business stability proof / ownership proof

    And at the disbursal stage (for property already located), you need to submit the following:
        Allotment letters
        Photocopies of title deeds
        Encumbrance certificate
        Agreement to sell

    For self-construction:
        Approved plans and clearance certificates along with estimates

    14. Do I need to take an insurance for my property?

    Yes, you will have to insure the property against fire and other hazards, as required by the bank during the loan tenure.

    15. Can I avail loan to buy a property in other city?

    Yes. Banks provide loan to purchase property in other city after validating the property documents.

    16. Are there any additional charges to be kept in mind while purchasing a house?

    Yes. The additional charges will include: transfer charges, registration charges and stamp duty charges. This is over and above the cost of the home.

    Other charges could include, booking fee or processing charges, which are usually paid to the lender when a loan is applied for. This could either be a fixed amount or it could be an amount that is a percentage of the loan amount. Pre-payment penalty is applied if the loan has been paid back in full, before the end of the duration that was previously agreed upon. A few lenders may also include consultant fees, documentation charges, etc.

    17. Can I avail home extension or improvement loan?

    Yes. You can avail of a home extension loan or home improvement loan or bridge loan or home construction loan or land purchase loan.

    18. What is Balance Transfer?

    A balance transfer can be availed to transfer an existing loan to a new lender at an attractive rate of interest.

    19. What is the difference between fixed and floating interest rates?

    When you avail for loan at a fixed interest rate, it will remain the same throughout the tenure, irrespective of market performance.

    With a floating interest rate, market fluctuations will determine increase or decrease of interest rates. In most cases, home loans will be offered at a fixed interest Rate.

    20. What is an amortization schedule?

    An amortization schedule gives the breakup of your EMI towards repayment interest and outstanding principle of your loan.

    21. How do I pay my monthly EMI?

    For monthly payments, banks may request for an Electronic Clearing System (ECS) form to be signed by you linking your salary or operational account. Besides ECS, at the time of applying for the loan, banks may ask you to submit post-dated cheques.

    Do clarify your ECS debit date with the bank so you can ensure sufficient balance for payment clearance.

    22. Will I be charged by Rubique for services offered?

    No. The service offered by Rubique are completely free of charge.

    23. I submitted my application to Rubique. Now, what next?

    Once your application has been electronically processed and received, it will be securely sent to the Financial Institution of your choice. You will soon be contacted by the lender directly for further process.

    24. How do I apply for a loan?

    Rubique offers home loan solutions from several banks and non-banking financial institutes. You can, not only compare, but also get an instant approval for your home loan application through our online integration with the bank’s system. You can browse, compare and apply for loan from here.

    25. Can I pre-pay my loan?

    You can pre-pay your loan, however a pre-payment charge maybe levied. This can be anywhere between 2-5%.

    26. What happens if I default on an ECS payment?

    Firstly, you will be levied a fee for late payment. Secondly, all your loan transactions are collected by Credit Information Bureau of India Ltd. (CIBIL). Defaulting on a loan will show up poorly on your credit history. This could pose a problem when applying for a loan in the future.

    27. What is Credit history?

    It basically records your repayment of past loans and credit card bills. The Credit Bureau of India Limited (CIBIL) maintains credit history and it is important that you have a good credit score with CIBIL if you wish to avail a loan in a hassle-free manner.

    Personal Loan

    1. How can I apply for personal loan?

    You can do it online or by contacting our call centre.

    If you apply online by filling in a brief form, you will get an in-principle approval on your query because we have partnered with several banks. This ensures faster turnaround time for your requirement.

    Our unique matchmaking algorithm ensures we match your requirement with the available options and share the result.

    One of our experts will contact you to provide information about available options and process your application. We will also arrange to get your documents and other paperwork picked up from you.

    If speaking to someone makes it’s easier for you, you can contact us at 1800-266-0299. One of our experts will contact you to provide information about available options and process your application.

    2. How do I know if I am eligible for loan?
    The eligibility criteria varies across banks & NBFC’s. Generally, individuals need to fulfill the below-mentioned basic criteria
    If you are salaried:
    • Age criteria: Minimum: 21 years; Maximum: 58 years
    • Service period: Minimum 12 months with current employer

    If you are self-employed:
    • Age criteria: Minimum: 21 years; Maximum: 65 years
    • Service period: Minimum 3 years in current business or profession
    The ability to repay the loan is one of the main factors that determine your eligibility for a loan. Other criteria include, tenure of loan, company you work with, your credit history and sometimes your place of residence.

    3. How do I know my personal loan eligibility amount?

    Ideally, you should borrow only as much as you can pay back in a comfortable manner. The EMI of your loan should preferably not exceed your disposable income, which is your monthly take-home after deducting household expenses and existing EMIs for other loans.

    4. What is the difference between fixed and floating interest rates?

    When you avail a loan at a fixed interest rate, it will remain the same throughout the tenure, irrespective of market performance.

    With a floating interest rate, market fluctuations will determine increase or decrease in interest rates. In most cases, personal loans will be offered at a fixed interest rate.

    5. What interest rate is usually applied to Personal Loans?

    The interest rate ranges from 14% to 28% depending on an individual’s profile, and the bank or institute’s offering.

    6. What is the minimum and maximum amount that can be issued as a personal loan?

    Personal loans are available in the range of Rs. 15,000 to Rs. 10 lakhs.

    7. What is the maximum tenure of a personal loan?

    Most banks and NBFC’s provide loan for a minimum of 12 months to a maximum 5 years (60 months).

    8. Can a personal loan be applied for with a co-applicant?

    Yes. All you have to do is specify so in the application form. Having a co-applicant increases the chance of getting a higher loan, depending on their profile, income and obligations.

    9. How long does the processing of the loan take?

    A loan approval process can take anywhere between 48 hours to one week, depending on the documentation. The disbursement of the loan is done on completion of all paperwork including submission of ECS (Electronic Clearing System) and / or PDC (postdated cheques).
    Rubique additionally provides ‘in-principle Approval’, this speeds up the processing time. Click here to know more and receive an approval on your application.

    10. How can I compare loans from different providers?

    All you have to do is complete the eligibility form on Rubique and gain access to customized quotes from a number of loan providers. You can browse, compare interest rates, EMIs, repayment charges and processing fee and make an informed decision.

    11. What if my loan application is rejected due to some reason?

    Before submitting your application, we scrutinize your documentation and mitigate any probability of a rejection.

    However, in case your application is rejected, our loan experts ensure your application is processed through another bank/ NBFC.

    12. How do I pay my monthly EMI?

    For monthly payments, banks may request for an Electronic Clearing System (ECS) form to be signed by you linking your salary or operational account. Besides ECS, at the time of applying for the loan, banks may ask you to submit post-dated cheques.

    Do clarify your ECS debit date with the bank so you can ensure sufficient balance for payment clearance.

    13. What pre or part payment charges I should consider while taking a loan?

    The tenure to repay the loan ranges from 1 to 5 years. In case of early payment of loan, pre-payment charges may apply. This could go up to, as high as 5% of the principle outstanding (balance loan amount), and it could also vary depending on the borrower’s credit profile as well as the bank’s policies. 

    14. How will I receive the money in my account after disbursement?

    The amount will be credited to your bank account.

    15. Is a guarantor necessary?

    No. Typically, you do not have to provide a guarantor; however, some lenders may demand one. For more details, you can visit our product browser section.

    16. What happens if I default on an ECS payment?

    Firstly, you will be levied a fee for late payment.

    Secondly, all your loan transactions are collected by Credit Information Bureau of India Ltd. (CIBIL). Defaulting on a loan will show up poorly on your credit history. This could pose a problem when applying for a loan in the future.

    17. What is Credit history?

    It basically records your repayment of past loans and credit card bills. The Credit Bureau of India Limited (CIBIL) maintains credit history and it is important that you have a good credit score with CIBIL if you wish to avail a loan in a hassle-free manner.

    18. Will I be charged by Rubique for services offered?

    No. The services offered by Rubique are completely free of charge.

    19. How do I apply for a loan?

    You can browse, compare and apply for loan here.

    Business Loan

    1. Why should I take a business loan?
    Mobilizing money for smooth business operation is critical for any business. An unsecured business loan gives you access to credit, which can be repaid over a period of time. It can be used for expansion of an existing business or investing in a new one without pledging anything against the borrowed amount.

    2. Who can avail of a business loan?
    • Self-employed individuals/ professionals (like doctors, architects, chartered accountants,business consultants)
    • Sole proprietorship firms
    • Partnership firms
    • Private limited companies
    • Closely held and public limited companies

    3. What is the eligibility criteria for availing of a business loan?

    Your firm should be at least 3 years old. For a net income of up to Rs. 1.5 lakhs, a firm can avail loan of up to Rs. 15 lakhs. For net income above Rs. 1.5 lakhs, a firm can avail loan above Rs. 15 lakhs. The above figures are only indicative, the actual eligibility criteria varies across financial institutions.

    4. What is the loan processing time?

    Typically, 4 working days after all documents are submitted.

    5. What is the loan amount one can avail?

    An unsecured business loan ranges from Rs. 10 lakhs up to Rs. 40 lakhs depending upon the financial eligibility.

    6. What is the minimum and maximum tenure of the loan?

    The loan tenure generally ranges between 12 to 36 months.

    7. What is the interest rate? Is it fixed or floating?

    Interest rates entirely depend upon the loan amount, credit assessment, and other risk-based parameters applicable from time to time. The rate is usually fixed.

    8. How do I pay the EMI?

    For monthly payments, banks may request for an Electronic Clearing System (ECS) form to be signed by you linking your salary or operational account. Besides ECS, at the time of applying for the loan, banks may ask you to submit post-dated cheques.
    Do clarify your ECS debit date with the bank so you can ensure sufficient balance for payment clearance.

    9. Can I pre-pay my loan?

    Yes, but most financial institutions allow part pay after 6 months from the date of disbursement.

    10. Will I be charged by Rubique for services offered?

    No. The services offered by Rubique are completely free of charge.

    11. I submitted my application to Rubique. Now, what next?

    Once your application has been received, it will be securely sent to the financial institution of your choice. We will be in touch with you throughout the disbursement process.

    12. What if my application is rejected?

    In an unlikely scenario of rejection, we will help you rectify the shortcoming and re-process the application.

    13. What are the documentation required?

    The following documents are needed:

    • KYC documents
    • ID proof : PAN card, Passport, Driving license etc. (any one)
    • Address proof (office and residence): Electricity bill, Telephone bill, Property Tax receipt, Registered Rent Agreement, Post-Paid Phone bill, Sale Seed of Agreement etc. (any one, not later than 2 months old)/li>
    • Partnership deed and PAN card (for partnership firm)
    • MOA & AOA, COI, PAN and Form 32 (for Companies)

    Ownership proof (any one) (applicant and guarantor)

    • Sale deed of property
    • Utility bills (electricity / water bill not older than 2 months old)
    • Property tax receipt (latest)
    • Leave and license agreement

    For self-employed Individuals, self-employed professionals, firms and companies

    • IT Return with statement of income of latest 3 years
    • Financials of latest 3 years with balance sheet, and profit and loss account with all schedules/annexures
    • If audited, then audit report along with directors report, 3CB/3CD of latest 3 years
    • All bank statements of last 6/12 month
    • Business existence proof, shop & establishment certificate, SSI registration certificate, sales tax/VAT registration certificate, trade license certificate, factory registration certificate, professional qualification certificate and degree for professionals

    Sanction letters of all the existing loans

    • For Vehicles
    • Performa invoice of the vehicle
    • For HL & loan against properties
    • Latest property sale agreement along with entire previous chain of sale agreements
    • Commence certificate, occupancy certificate/ approved plan copy
    • Draft copy of sale agreement (in case of purchase transaction)

    14. How do I apply for a Business loan?

    You can browse, compare and apply for a loan from here.

    Loan Against Property

    1. Who can avail a loan against property?
    The following entities can avail a loan against property.
    1. Individuals
  • Salaried Individuals
  • Professionals
  • Self-employed
  • 2. Non-individual entities
  • Proprietorship firms
  • Partnership firms
  • Private limited companies
  • Public limited companies
  • 2. How much finance can I avail against the property?

    This depends on the property type, valuation and bank’s policy. Generally, you can get a loan for up to 80% of the property value.

    3. What is the eligibility for loan against property?

    Anyone aged between 25 and 65 years who is not retired is eligible.
    While this is the broad criteria, the following factors also impact eligibility: Purpose of the loan
    Your income
    Assets and liabilities
    Your spouse’s income, in case you are applying for a joint loan
    Qualifications
    Employment and professional experience
    Credit score and history (the prospect of getting a loan increases with a good credit score)
    Residential status
    Number of dependents

    4. Can I apply for a loan along with a co-applicant?

    Yes, You can.

    5. My property is co-owned by my parents/ spouse/ relatives, can I apply for a loan individually or do I need a co-applicant?

    If the property is co-owned, all co-owners need to be co-applicants.

    6. What is the loan processing time?

    Typically, 7-15 working days after all the documents are submitted. The process includes evaluating your property value through a credit, legal and technical accessor.

    7. How would the value of my property be determined?

    The value of your property would be determined through a valuation conducted by independent credit accessor appointed by the financial institute.

    8. What is the tenure of the loan available?

    A maximum of 15 years.

    9. How do I pay the EMI?

    For monthly payments, banks may request for an Electronic Clearing System (ECS) form to be signed by you linking your salary or operational account. Besides ECS, at the time of applying for the loan, banks may ask you to submit post-dated cheques.
    Do clarify your ECS debit date with the bank so you can ensure sufficient balance for payment clearance.

    10. Can I pre-pay my loan?

    Yes but most financial institutions allow part pay after 6 months from the date of disbursement.

    11. Will I be charged by Rubique for services offered?

    No. The services offered by Rubique are completely free of charge.

    12. I submitted my application to Rubique. Now, what next?

    Once your application has been electronically processed and received, it will be securely sent to the financial institution of your choice.

    13. What if my application is rejected?

    In an unlikely scenario of rejection, we will help you rectify the shortcoming and re-process the application with same or another institute.

    14. How do I apply for a loan against property?

    You can browse, compare and apply for a loan from here.

    Car Loan

    1. What are the most important eligibility criteria for car loans?

    These loans are offered at attractive interest rates to both salaried and self-employed individuals who meet age and income eligibility criteria required by our lending partners.
    Salaried individuals should be between 21 and 60 years old and the minimum salary required is usually in the range of Rs 2.4 lakhs per annum and upwards. This will be determined based on your Form 16. You will also have to be employed with the organization for one year.

    2. What the maximum amount I can avail of?
    Car loans start from Rs. 1 lakh onwards based on criteria such as your requirement and eligibility, your annual income, your repayment capacity and other outstanding financial obligations. You get upto 90% of the value of the car to be purchased.

    3. What tenure can I apply for in my car loan application?

    You can typically get approved for a tenure ranging from 12 to 60 months.

    4. What type of vehicles or automobiles can I buy with my car loan?

    Your car loan will cover the purchase of most passenger cars, SUVs (sports utility vehicle) and MUVs (multi utility vehicle). Car loans come with the condition that the vehicle is purchased for personal use. If you are purchasing a vehicle for commercial use, you can apply for a commercial vehicle loan.

    5. What is the process of applying for a car loan at Rubique.com?

    You start your eligibility check and receive your loan approval online in a couple of minutes. Once your loan is approved, our executives coordinate with you to complete your application form along with necessary documents like income proof, identity proof and any other documents the selected lender requires. It takes approximately seven working days from application and receiving instant in-principle approval online to disbursal of the loan.

    6. Do car loans require me to provide any security or collateral to the lender or bank?

    Just like a home loan, your vehicle will be used as the collateral to secure your loan. When you take a car loan your car or vehicle is hypothecated to the bank or lender for the period of the loan. So no other collateral or security is required.

    7. Can I sell the vehicle I have used an auto loan to purchase?

    Yes but you need to pay off your car loan and obtain a No Objection Certificate from the bank before you sell. This is mandatory because your car is hypothecated to the bank when you avail of the loan.

    8. Do I need to pay any charges towards availing a car loan?

    Rubique.com offers a free online eligibility check from banks and lenders you select. After you receive your in-principle approval, the selected bank or lender may apply processing fees for your loan application. We clearly mention fees and charges for each lender that you are eligible for so you can compare their fees and charges before choosing to apply.

    9. Are there any charges applicable when I make a pre-payment towards my car loan?

    Most lenders and banks allow you to make pre-payments towards your car loan although they may apply charges for this, which vary across lenders.

    10. Are there any charges applicable when I foreclose my car loan?

    You will need to pay all outstanding dues against your car loan before you foreclose it. Charges vary across lenders and we help you evaluate the best option for you before you make your selection when applying for an auto loan on Rubique.com.

    11. Are there any charges applicable when I foreclose my car loan?

    You will need to pay all outstanding dues against your car loan before you foreclose it. Charges vary across lenders.

    12. Can I get loan to purchase a used car?

    Yes, most lenders offer loans to purchase used or second hand cars. Interest rates on used cars and second hand vehicles are usually higher than those applicable when purchasing a new car.

    13. Can I negotiate for better interest rates for my auto loan?

    It is in your best interest to get the lowest interest rate for your auto loan. Interest rates vary across lenders and can be negotiated based on your credit history and your relationship with the bank.

    14. What documents do I need to submit to get my auto loan approved?

    Documents you need to submit depend on whether you have an existing relationship with the bank. Most lenders require a minimum of income proof, residence proof and identity proof to process your application.

    14. What is the processing time required for an auto loan?

    When applying for an auto loan on Rubique.com, you receive an instant approval. We then complete your application and get your loan disbursed within 7 days.

    Two Wheeler Loan

    1. What are the most important eligibility criteria for two-wheeler loans?

    These loans are offered at attractive interest rates to both salaried and self-employed individuals who meet age and income eligibility criteria required by our lending partners.

    2. How much two wheeler loan can I get?
    You get 85-100% of the value of the vehicle to be purchased depending on whether you’re salaried or self-employed and your existing relationship with the bank.

    3. What tenure can I apply for?

    Typically, 12 to 60 months.

    4. What is the process of applying for a two-wheeler loan?

    You start your eligibility check and receive your loan approval online in a couple of minutes. Once your loan is approved, our executives coordinate with you to complete your application form along with necessary documents like income proof, identity proof and any other documents the selected lender requires. It takes approximately 7 working days from application and receiving instant in-principle approval online to the disbursal of the loan.

    5. Do two-wheeler loans require me to provide any security or collateral to the lender or bank?

    Just like a home loan or car loan, your vehicle will be used as the collateral to secure your loan. When you take a two-wheeler loan your vehicle is hypothecated or pledged to the lender for the period of the loan.

    6.Can I sell the vehicle I have used an auto loan to purchase?

    You need to pay off your loan and obtain a No Objection Certificate from the bank before you can sell your vehicle. This is required as your vehicle is hypothecated or pledged to the bank when you avail of the loan.

    7. Do I need to pay any charges towards availing a loan?

    Rubique.com offers a free online eligibility check from banks and lenders you select. After you receive your in-principle approval, the selected bank or lender may apply processing fees for your loan application. We clearly mention fees and charges for each lender that you are eligible for so you can compare their fees and charges before choosing to apply.

    8. Are there any charges applicable when I make a pre-payment towards my two wheeler loan?

    Most lenders and banks allow you to make pre-payments towards your loan although they may apply charges for this. Charges vary across lenders.

    9. Are there any charges applicable when I foreclose my loan?

    You will need to pay all outstanding dues against your loan before you foreclose it. Charges vary across lenders.

    10. Can I get loan to purchase a bike? What types of bikes are the loans offered on?

    Yes, most lenders offer loans to purchase new, used or second hand bike. Interest rates on used and second hand bikes are usually higher than those applicable when purchasing a new bike.

    11. Can I negotiate for better interest rates for my two wheeler loan?

    It is in your best interest to get the lowest interest rate for the loan for your bike. Interest rates vary across lenders and can be negotiated based on your credit history and your relationship with the bank.

    12. What documents do I need to submit to get my loan approved?

    Documents you need to submit depend on whether you have an existing relationship with the bank. Most lenders require a minimum of income proof, residence proof and identity proof to process your application for a loan to purchase a bike.

    13. What is the processing time required for a two-wheeler loan?

    When applying for a two wheeler loan on Rubique.com, you receive an instant approval. We then complete your application and get your loan disbursed within 7 days.