What is Avail Finance?
Avail Finance is an online consumer lending platform that provides short term loans to the financially underserved masses of India. Salaried employees earning less than Rs. 35,000 are eligible to avail a loan from Avail Finance.. You can apply for a personal loan via the Avail Finance mobile app
How do I get a loan?
You can apply for a personal loan, via the Avail Finance app on the Google Play Store App - https://goo.gl/jzNzUT
Am I eligible for a loan?
If you are a salaried employee earning up to Rs. 35,000 a month, you can apply for an instant loan with Avail. However, the final decision for loan disbursal is subject to a review process.
Is Android Phone necessary?
Yes, an Android phone is necessary for you to apply for a loan using our Google PlayStore App.
What is the Interest Rate?
At Avail, we charge a fixed interest rate of 2% per month on personal loans.
How much loan amount + tenure?
Currently you can avail unsecured loans with us up to Rs. 40,000 for a maximum tenure of 8 months.
Processing Fee - recurring or one time?
Avail charges a one-time processing fee of Rs. 400, which only applies to your first loan with Avail Finance. Any loans you avail after the first would not be levied any processing fee.
How long does it take for the disbursal?
After your paperless loan application is approved and you have uploaded the post-approval NACH and KYC documents, Avail Finance disburses the amount to your bank account within 1 working day.
What documents are required to apply?
Avail Finance requires the following documents when you apply for a short term loan - Aadhar Card (front and back), PAN Card, bank statements from the past 4 months (with account details and salary credit visible), Current Address Proof (which could be your rent agreement, utility bills, etc.) and a real-time photograph in the form of a selfie taken during the paperless application process.
Can I take multiple loans?
No, as of now we are unable to provide you with multiple personal loans at one time. You can apply for a new instant loan with Avail after completing the EMI payments for your previous loan.
Will this affect my credit score?
With timely repayment of your EMI payments, you can improve your credit score. On the other hand, if you default (fail to pay in a timely manner) on your loan’s EMIs, it will negatively affect your credit score.
How do I improve my credit score??
If you pay your loan's EMIs and dues timely, your credit score will increase, which in turn would help you avail larger loans in the future.
Can I pre-close the loan?
Yes, you can pre-close the loan taken from Avail Finance. Please call our customer support team at 8880428245 for the exact charges applicable on pre-closing your personal loan.
What is the Processing Fee?
Avail Finance charges a one-time loan processing fee of Rs. 400.
Do you give Gold Loan?
No, currently we only provide short term personal loans.
Is there any referral bonus
Yes, please visit “Refer a Friend” tab on our application for details.
My salary is more than 35k, can I get a loan?
We currently only cater to people earning up to Rs. 35,000 per month. While it’s part of our mission to help everyone in need, our primary focus is providing personal loans to those who cannot obtain them from anywhere else.
When is my loan's EMI Due date?
You can keep a track of your upcoming EMI due date and other details regarding your loan on your Avail App.
What is the total due amount on my personal loan?
You can check your due amount and keep a track of your loan details on your Avail App.
Will I get an NOC after the loan is completed?
You can request for a loan completion certificate by contacting Avail Finance's customer support team.
How do I pay the EMI?
Your EMI payments would be deducted directly from your bank account, subject to NACH approval. Alternatively, you can pay your EMIs using online media such as debit cards, Netbanking, UPI, e-wallets or cash via Vodafone mPesa (Contact us at +918880428245 for more details).
How do I apply for a top-up/multiple loans?
We currently do not offer top-up on personal loans, or provide multiple short terms loans at one time. However, it is easy for you to complete your previous loan and avail a new one instantly, with a higher approved amount.
Can I pay after the due date?
Is it in your best interest for you to pay all your dues in time to avoid late payment charges and for it to not affect your credit score. After your due date, late payment charges of 1% per week would be levied on the overdue amount.
I was overcharged for the EMI
We are very sorry to hear this. We will look into this immediately and get back to you as soon as possible. You could reach us on 8880428245 for an immediate resolution.
Where do I upload the NACH form?
After your loan is approved, you can upload a signed copy of your NACH form to the Avail Finance app itself.
What is an NACH form?
NACH/ECS form is an auto-debit form which allows us to deduct your monthly EMIs from your bank account, in order to make your loan repayments hassle-free.
What are the late payment charges?
Yes, there are late payment charges of 1% per week on the due amount.
Can I pay through Credit Card/PayTM/Wallets?
You cannot repay the loan using a credit card. However, we do accept a variety of e-wallets for payments. You can find the details of various online payment options here.
I want to pay my EMI in Cash.
You can pay your EMIs in cash by visiting your nearest Vodafone store and making the payment in cash via mPesa.
When will the money be transferred?
Your amount will be disbursed once your Post Approval Documents that is Signed Sanction Letter, Signed NACH and Self-attested Govt ID are received and verified.
My EMI was debited from by Bank account but I’m getting EMI due messages
Hi, we're sorry to hear this. We request you to send us a screenshot of your bank statement showing the NACH debit at firstname.lastname@example.org and we'll immediately look into this issue.