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
help@availfinance.in and we'll immediately look into this
issue.