WeCredit FAQs

A personal loan is an unsecured loan that can be used for any personal need. The approved amount is repaid in fixed monthly EMIs over a chosen tenure.

Most lenders prefer a credit score of 720 or above, but some of our lenders may consider applications with a CIBIL score of around 700.

The loan amount depends on income, credit profile, existing liabilities, and lender policy. On WeCredit, offers may range from ₹5,000 to ₹15 lakh.

Interest rates are based on factors like credit score, income stability, loan amount, tenure, and the lender's internal policy.

Approval timelines vary by lender, but many personal loans are approved within minutes and disbursed shortly after verification.

Yes. Each application may result in a credit enquiry, which can slightly impact the credit score. Comparing offers on a single platform helps reduce multiple enquiries.

Yes, most lenders allow prepayment or foreclosure, but charges may apply depending on lender terms and loan duration.

Missing an EMI can attract late payment charges and negatively impact the credit score. Repeated delays may affect future loan eligibility.