FAQs
Loan Eligibility & Application
Who is eligible to apply for a business loan?
Business owners who accept QR payments and have regular business transactions can apply for loan on Instavyapaar
How do I apply for a loan?
You can apply through the InstaVyapaar app or web by completing a simple application process in a few seconds.
Is collateral required to get a loan?
No. You do not need to give any collateral, security, or property to get the loan.
What documents are required for loan application?
No Physical documents are required. The entire process is 100% digital.
Can new users apply for a loan?
Yes, new users can apply for a loan on InstaVyapaar if they accept QR payments and have a history of daily transactions.
Loan Approval & Disbursal
How long does loan approval take?
In most cases, loan eligibility is assessed instantly, and the application process can be completed in under 5 minutes.
How long does it take for the loan amount to be disbursed?
After loan approval and completion of all required steps, the loan amount is usually transferred within 1-2 days.
What can cause delays in loan disbursal?
Loan disbursal may be delayed because of:
- Pending KYC verification
- Incorrect bank details
- Technical or banking issues
How can I track my loan status?
You can check your loan application and loan status anytime in the UdhaarSaathi app.
Loan Rejection & Eligibility Issues
Why was my loan application rejected?
Your application may be rejected due to eligibility criteria, verification issues, risk assessment, or incomplete information.
Will I be informed if my application is rejected?
Yes. You will receive a notification about your application status.
Can I reapply after rejection?
Yes. You can usually reapply after 30 days from your rejection date, provided you meet the eligibility criteria.
Does loan rejection affect future applications?
No. Your eligibility is checked every time you apply for a loan.
Can incomplete KYC lead to rejection?
Yes. If your KYC is incomplete or verification is unsuccessful, your application may not be approved.
EMI, Repayment & Loan Management
What is the loan tenure?
Loan tenure depends on your approved loan offer and will be shared with you before you accept the loan. It is usually between 6 and 12 months.
How can I check my EDI details?
You can check your EDI amount, repayment schedule, and due dates in your loan account details.
What is UPI Auto Debit and why is it required?
UPI Auto Debit is a feature that automatically deducts your EDI payments from your registered bank account. It is required so your payments are made on time without you having to do it manually. During setup, ₹1 is deducted as a verification charge and is refunded within 24–48 hours.
Can I close my loan before the tenure ends?
Yes, UdhaarSaathi provides an option to foreclose your loan. You can repay the remaining principal amount and a minimal foreclosure charge to close your loan early.
KYC, Bank Details & Account Updates
Why is KYC verification required?
KYC verification is required to confirm your identity and complete regulatory requirements.
Why am I being asked for bank statements?
Bank statements may be required for verification and loan assessment purposes. However, you do not need to upload any documents. Simply enter your mobile number, verify it with an OTP, and provide the bank account where you receive your QR payments.
Can I update my registered mobile number or other details?
Yes. If no accounts are found against a mobile number, you can change your mobile number within the journey itself.
How do I put the correct bank account?
Enter the bank account where you receive your daily QR payments from customers.