Is TrueConnect a direct lender or a loan distribution agency?
TrueConnect is a premier Loan Distribution Agency and financial marketplace. We do not lend directly; instead, we partner with India's leading RBI-approved Banks and NBFCs to bring you the best loan offers, lowest interest rates, and seamless approval—all from one platform.
Why should I apply through TrueConnect instead of going directly to a bank?
Applying through TrueConnect allows you to compare offers from over 30+ top RBI-regulated Banks and NBFCs simultaneously. We match your credit profile with the right lender to ensure the highest approval chances, lowest interest rates, and dedicated documentation assistance at zero extra cost to you.
Are there any service charges or fees for using TrueConnect?
No! Our loan comparison, eligibility check, and application assistance services are completely free for customers. We are compensated directly by our partner Banks and NBFCs upon successful loan disbursement.
What documents do I need to apply?
Typically, you'll need proof of identity (Passport/Driver's License/PAN Card), proof of address (Aadhaar/Utility Bill), and proof of income (Bank Statements/Salary Slips/ITR). The exact requirements may vary depending on the partner bank and loan type.
How long does the approval process take?
Through our digital bank partnerships, personal loan approvals can happen in as little as 48 hours. Home and business loans typically take 5-8 working days for bank verification and processing.
Can I prepay my loan?
Yes, most loan products offered by our partner lenders allow prepayment. Some banks may carry a small prepayment penalty, while others allow free foreclosure after a specified period as per RBI guidelines.
Does checking my eligibility affect my credit score?
No, checking your eligibility on TrueConnect is a "soft inquiry" and does not impact your credit score. Only when you formally select a lender and apply does the bank initiate a hard inquiry.
What are the interest rates offered?
Through our network of partner Banks and NBFCs, interest rates start as low as 8.25% p.a., depending on your credit profile, income, and the type of loan you are applying for.
Is collateral required for all loans?
No, Personal Loans and Business Overdrafts distributed through our partners typically do not require collateral. However, Home Loans and Loans Against Property are secured loans that require collateral.
What loan tenures are available?
Our partner banks offer flexible repayment tenures ranging from 1 year to 30 years, allowing you to choose an EMI plan that fits your budget.
Agent Frequently Asked Questions
How can I become a loan agent / partner?
Simply click on the "Become an Agent" link in our footer, fill out the registration form, and upload your KYC details. Once approved, you can start referring loan applications to top banks and earning commissions.
When do I get my commission?
Commissions are processed monthly and deposited directly into your registered bank account after the partner bank successfully disburses the loan.