FAQ  

About LoanFront

What is LoanFront?

LoanFront is a fintech product by CapFront Technologies Pvt. Ltd.
LoanFront is a simple, yet powerful app that provides short-term personal loans to salaried as well as self-employed professionals. The app is completely digitally driven, and the entire loan application process can be carried out online. LoanFront requires minimal documentation, so the entire application process should not take you more than 15 minutes to complete. On approval, you can receive the money in your account instantly.

Which cities are currently serviced by LoanFront?

LoanFront is currently available in the following cities:

• Bengaluru
• Chennai
• Hyderabad
• Pune
• Vishakhapatnam

What products are offered by LoanFront?

We offer loans starting from ₹2,000 to ₹2 Lakhs, with a variety of repayment tenures. Here are the different kinds of loans we offer:
Salary advance: These are personal loans ranging from ₹2000 to ₹15,000. These smaller loan amounts help you meet unexpected expenses that may arise before your next payday.
Short-term personal loan: These are personal loans ranging from ₹15,000 to ₹2 Lakhs. These larger loans help you tackle emergencies and financial needs arising due to unforeseen circumstances.

On what basis does LoanFront lend

LoanFront lends based on the authenticity of the profile details and documents provided by you.

How do I use the LoanFront app?

Our app is designed to be simple and user-friendly. Here’s how you use it:
• Download the LoanFront app from the Play Store.
• Register yourself through your Facebook or LinkedIn account.
• Fill basic details to check your eligibility
• To apply for the loan you are eligible for, fill out your personal information.
• Upload photos of your documents.
• Choose your loan
• Provide your bank account details.
• E-sign the agreement.
• Get the money directly in your bank account.

Is it necessary to install the LoanFront app to apply for a loan?

Yes, you need to install the LoanFront app on your Android smartphone to apply for a loan.

What platform does LoanFront support

LoanFront is currently only available on Android devices.

Why should I opt for LoanFront rather than taking a personal loan from a bank?

Applying for a personal loan at a bank involves multiple forms and extensive documentation. You may need to visit your branch office several times, and it usually takes a couple of days for the bank to process your loan. When you are facing a financial need, you may not always have the time to wait for the money to arrive. If you need a loan of a smaller amount, you may not want to go the trouble of going through a tedious, long-winded process.
At LoanFront, the entire application process is online, and completing the steps hardly takes more than 15 minutes. If approved, your loan is transferred to your account immediately.

Can I create a profile on LoanFront even if I don’t need funds right now?

Yes, you should. Emergencies and opportunities do not come with a prior warning. You may need to take care of a medical emergency for someone in your family, make an unforeseen payment, or even take advantage of a flash sale online.
Creating a profile beforehand will make it even easier for you to apply for a quick loan, as and when you need it.

What if I change my mobile number?

You need to send across an email to info@loanfront.in with your new SIM or mobile number, so that we can either de-activate your account or find ways to continue with the existing account.

How to use LoanFront?

How do I Register?

Download the LoanFront app from the Play Store & register yourself through your Facebook or LinkedIn account.

I do not have a Facebook or LinkedIn account. Can I still use the LoanFront app?

No, an active Facebook or LinkedIn account is mandatory for signing up with LoanFront.

• Make sure you are entering your name as per PAN CARD
• Try to use mobile number linked to your AADHAR Card for faster processing.

How to fill the eligibility form?

Eligibility form should be filled very carefully and aqurately for us to process your application smoothly

• Make sure you are entering your name as per PAN CARD
• Try to use mobile number linked to your AADHAR Card for faster processing.

Why does my phone number have to be linked with my Aadhaar?

For e-signing the Loan Agreement, UIDAI will send you an OTP on the mobile number that is linked to your Aadhaar.

Can I apply for a loan through LoanFront if my phone number is not linked to my Aadhaar card?

No. Your Mobile Number needs to be linked to your Aadhaar Card for you to apply for a loan from LoanFront.

What if my app shuts down before I complete the process?

Don’t worry – You can pick up exactly from where you left off, once you re-start the app.

Can I edit my profile details?

No you can not edit your details once you submit your profile for eligibility check, so please make sure you are filling the details correct

Can I reach out to LoanFront?

For any questions or queries, you can reach out to us at info@loanfront.in or call us on 080 4812 6351

I haven’t received the OTP. What can be the reason?

The SMS is delivered by your network operator, so network issues can prevent you from receiving the OTP. You can try switching off and restarting your phone. Or else, you can try after some time.

My application was not approved? What was the reason?

We decide the eligibility of every borrower based on our own set parameters and algorithms. Don’t worry if your loan did not get approved – it is not necessarily a reflection of your credit worthiness. It simply means that your profile does not fit our set algorithms and credit model. We will let you know in case your application could not be approved. Also, you may re-apply after 3 months in such cases.

How long will it take me to complete my profile to avail the loan?

Completing your profile and uploading your documents should not take you more than 15 minutes. If all your documents are provided correctly, and your account is verified, you may receive the approved loan amount in your bank account within minutes.

Do I have to upload the required documents every time I take a loan?

No, you only need to upload your documents the first time you apply for a loan. Once your documents have been successfully verified and your LoanFront profile is confirmed, you need not re-submit your documents the next time you apply for a loan.

Can I upload a photo of a scanned copy or photocopy of my identity proof (PAN card) or address proof (Aadhaar card, voter ID, driving licence)?

No, a photocopy or scanned copy of your documents will not be accepted. We require photos of your original documents only.

Can I send the documents to you via email?

No, you can only upload the documents through the app.

How do you perform customer identity and address checks?

The documents you upload help all loan sanctioning entities understand customers and their financial dealings better. The documents we need from you are:
• A photo of your PAN Card, which we use as your identity proof.
• A photo of your Aadhaar card, voter ID or driving license, by which we can verify your address.

My KYC documents are correct but they are not getting verified. What can be the reason?

Please ensure that you upload clear photos of your original documents. Clicking a photo of a soft copy of your documents saved on another mobile or computer screen may not work.

My profile verification has been pending for more than 24 hours. Why?

Usually, the profile verification happens within 10 minutes of registration. However, in rare cases we may require more time to verify the profile. This may happen in case of low clarity documents, user provided details not matching with the documents uploaded, etc.
Once we have been able to verify your profile, you will be notified via SMS. You may also reach out to our customer care at info@loanfront.in or call us on 080 4812 6351 for further help.

Is my data safe with LoanFront?

Yes, your data is safe with us. It is transferred over a secure connection and we do not share it with anyone without your consent

Is there a particular time at which I can apply for a loan through LoanFront?

No, you can avail a loan from LoanFront 24x7x365. Since we operate on a completely digitised platform, you are not restricted by any particular working hours.

Why am I not eligible for loans of a higher amount when LoanFront offers up to ₹2 Lakhs?

The loan amount you are eligible for depends on factors like your monthly salary, credit score and a host of other data points that we get from you when you create your profile. Based on this information, we allocate a maximum disbursal limit that you can avail.

If you make regular loan applications from LoanFront and make timely re-payments every time, there is a good possibility that your maximum disbursal limit will increase over time. Do note that while making timely re-payments increases the probability of enhancing your maximum disbursal amount, it does not guarantee the same.

Can I apply for two loans simultaneously?

No, you can only apply for one loan at a time.

Can I change my loan terms?

Once a loan is approved and disbursed, the loan terms such as amount and repayment date cannot be changed.

Can I get my loan cancelled?

Once a loan is approved and disbursed, it cannot be cancelled. Hence, you would need to repay the amount in full to close the loan.

Can I edit my profile details?

To make any changes to your profile, please drop us a mail at info@loanfront.in and we shall get back to you.

Are the transactions on LoanFront safe?

Yes, the transactions are secured through a 128-bit SSL encryption.

What is the interest charged on loans that I avail with LoanFront?

For our Salary Advance product of 15 days we charge a flat interest rate of 1.4% we have the lowest interest and best interest rate in the market and the interest rate is determined by the borrowing capacity of the customer.

Why is the processing fee deducted from my loan amount upfront?

Processing fee is the standard fee charged by all financial entities for operational efforts like performing credit checks, sanctioning the loan, etc. We charge this upfront from the loan amount so you know exactly how much to expect, right from the beginning.

Are there any hidden charges?

No. All our charges are transparent and communicated to the customer upfront. For more information, please check the Charges section of the FAQ.

How do I get to know my re-payment schedule?

You can find it by logging into the app. The repayment can be exactly in 15 days from the disbursal date.

Why do you need my bank account details?

We need your bank account details to be able to transfer the funds you need to that account.

Why do you need to verify my bank account?

We do this to ensure that the details of the bank account you have provided belongs to you.

My bank account could not be verified. What do I do next?

If we are not able to verify your account automatically, you may try providing a cancelled cheque, to help us with the verification process. Please note that verification through the second method may take up to 24 hours.

Can I get the loan amount transferred to someone else’s bank account?

No, you can only get the amount transferred to your own bank account.

Is it possible to receive the loan amount in a joint bank account?

Yes, it is possible to get the loan amount transferred to a bank account jointly held by you. However, you should be the primary account holder of the joint account.

I am facing technical issues during loan application. What do I do?

We will need more information about the issue you are facing in order to be able to advise you on the correct course of action. Send us the screenshot of the issue, along with your registered phone number and mobile device model name to info@loanfront.in, and we shall get back to you at the earliest. Or call us on 080 4812 6351

I applied for a loan but did not receive the money in my bank account immediately. Why?

In some cases, your profile may take up to 24 hours to be verified and for the loan amount to be disbursed to your bank account.

Why should I e-sign my loan agreement?

The Loan Agreement is a legally binding agreement that you need to sign before availing a loan. The agreement states that once a loan is disbursed to you, you are liable to pay back the entire amount with interest and other charges as applicable, within the maturity of the loan.

How do I repay the loan?

How can I re-pay the loan?

You can repay your loan by heading over to the Repayments section in the app and making an online payment. We accept payments via net banking, debit card, UPI, PayTm and bank transfer.

Are there any late payment charges?

Yes, if the repayment of the loan amount, interest and other applicable fees are not made within the due date, you will incur some late payment charges. This includes a per-day penalty charge that will be levied starting from the first day your loan becomes overdue. In addition to this, you will also be levied a one-time overdue charge. These charges will have to be paid over and above the regular due payment.

Loan Amount One-Time Overdue charge* in Rs
Inclusive of 18% GST
Per Day Penalty Charges in Rs
Inclusive of 18% GST
1000-2000 20 to 50 10
2001-3000 40 to 75 20
3001-6000 60 to 150 30
6001-8000 120 to 200 40
>=8001 160 and above 50
*Dynamic charge based on the Loan tenure.

I am unable to pay on the mobile app. Is there any other way I can repay the amount?

No. We only accept loan repayments through the LoanFront app via debit card, net banking, UPI, PayTm or bank transfer. If you are facing an issue while repaying your loan, kindly drop us an e-mail on info@loanfront.in and we shall look into it.

Can I repay the loan before the due date?

Yes, you can repay your loan anytime before the repayment date.

Do you have a cash payment option?

No, we support online repayments only.

What happens if I do not pay on time?

Timely repayment of the loan amount, interest and other applicable charges is extremely crucial. 
• For every day that you default on your payment, you will have to pay a hefty penalty over and above the principal and interest amount.
• You will automatically be ineligible for availing quicker Personal Loans of a higher value from LoanFront in the future.
• Your CIBIL score will get affected, which will affect your ability to avail loans from any bank or financial institution in the future. Your profile will also be updated as a defaulter with various credit rating agencies.

Can I make a partial payment on the due date and pay the remaining amount later?

No. The entire amount needs to be paid on or before the due date.

Can I reschedule or postpone the EMI date?

No. LoanFront does not provide any option to reschedule or postpone your EMI date.

Do I get a confirmation after I repay the loan?

Yes, you will receive an SMS from Loanfront confirming the repayment, and an email confirming the closure of your Personal Loan with Loanfront.

Money got deducted from my account, but it isn’t visible on my system. Why?

There can be times when, due to network issues or issues with the payment gateway, money gets debited from your account but it does not get accepted by the payment gateway. In these cases, you should get your money back within 7 working days. If you do not get the money back in your account by this time, please write to us at info@loanfront.in with screenshots.