Frequently asked loan questions
Answers to common questions about eligibility, approvals, documents, interest rates and processing time.
How long does loan approval take?
Timelines depend on loan type, lender, document completeness and verification. Personal loans may be faster, while home loans and LAP need legal and technical checks.
What CIBIL score is preferred?
Many lenders prefer 700 or above, but policy differs by loan product and profile. Income strength, collateral and repayment history also matter.
What documents are required?
Most loans need KYC, income proof and bank statements. Home loans and LAP also need property documents. Business loans usually need GST, ITR and financial records.
Can MK Loans guarantee approval?
No consultant should guarantee approval. MK Loans helps improve application readiness and lender fitment, while final approval is decided by the bank or NBFC.
Are interest rates fixed?
Rates depend on lender policy, loan type, credit profile, collateral, tenure and market conditions.
How do I start?
Submit the enquiry form, call, or WhatsApp MK Loans with your loan type, city, income profile and approximate loan amount.