Compare and Apply for Loans online in India


Landed up to the sight of your dream house? Zeroed in to the esteemed college you want your child to get admitted in for higher studies? Up for the family car you want to surprise your loved ones with? So what’s stopping you to achieve all these? Are you short of plenteous money and need a loan to accomplish them? If it is so, you have landed up to the right place! We are here to assist you with every kind of loan you need to bring off your dreams in reality. Check out the various types of loans, banks and terms & conditions here at IndiaShopps to fix upon the right choice as per your requirements.

Know your Loan Interest Rates

Knowing your interest rates is not a big deal, in fact; calculating the interest rates can save you a lot of money while deciding upon your investment options. Interest rates show a difference between different banks. Before going for the final call, compare the rate of interest of nationalised and private banks and choose wisely. To know the various rates of interest for different banks, fill up the form. is the loan marketplace for loan comparisons. We are partnered will leading lending institutions in India. We use all the required loan parameters such as interest rates, tenure, eligibility criteria, processing fee, documents required for each bank to make comparisons easy. This ensures to save time and efforts that helps in saving EMIs. After you enter all the necessary information, the interface makes a database and we work with the bank to get you the desired loan with after instant approval.

Interest Rates

Interest Rate is a key feature of a loan. An interest rate is the most important component of your EMI that you pay every month. It is therefore advisable that before applying for a loan you must check your interest rate and calculate you EMI accordingly.

Processing Charges

When you apply for a loan the bank levies some cess that is the processing fee. It is an administration fee charged by the bank to do the documentation and processing of your loan. The processing fee on any loan scheme usually ranges between 0% and 5%.

Prepayment and Partial Payment

Prepayment of loan amount is an option of making complete settlement of your EMIs before the loan tenure ends. The bank usually charges a cess on the settlement.

Partial payment is making half settlement of the EMIs before the loan due date. It is advisable to use pre-payment calculator before making any settlement.

Updated in Interest rates

At IndiaShopps we understand that paying EMIs are a real burden. Hence its in our interest that we track the best available rates at all times from all the banks. We check the Interest Rates on a daily basis to provide you with the latest rates on any given day. Our responsiveness to changes in interest rates has helped lot of consumers saved huge amounts in their EMIs.

Minimum Documentation

We understand that banks follow a thorough documentation process. Here at Indiashopps, we work with banks closely to reduce the documentation process to minimum documentation step that requires you to submit only most important documents.

Instant Approval

We all look for things to be done instantly and Indiashopps follows the same rule. We work best to provide you instant approval on your loan application.

Loan amount and Eligibility

Loan amount is the total money that a bank sanctions against your Loan application. Based of few factors like eligibility bank may not approve or grant the total loan amount that you requested for.

Eligibility for a loan is again a key factor which needs to be understood. There are many parameters like CIBIL score (past credit history), current ongoing other loans, in hand salary, other earnings etc., based on which eligibility is derived by banks.

It is strongly advised to check eligibility using a loan eligibility calculator and calculate EMIs using an online EMI calculator. Based on what bank will provide as Loan and own funds that will be used the total budget can be arrived at.

Step-wise Procedure to Apply for Loans through -

  1. Click what loan you looking for : Home Loan , Car Loan , Personal Loan , Two Wheeler Loan , Used Car Loan

  2. You will be redirected to a calculator page where you must calculate your loan EMI amount basis which apply for the respective loan.

  3. After calculation of EMIs, enter you details into the respective fields.

  4. The website will show you a list of best banks providing the loan scheme as per your details.

  5. Fill out your contact details. We would encourage you to even the optional details. That will help us understand your requirements in detail and we can then better match them with the best available option.

  6. That's it. You are done. We will take it from here and arrange for further processing.


Things to know before applying for a loan:

Floating and fixed options

Floating interest rate is a form of interest rate that increases and decreases with rest of the market or an index pattern in the market. Where, fixed interest rate can be considered as a debt obligation, which stays constant during the tenure of loan’s term.

Margin amount

Margin amount is the difference between the service and product’s selling price, compare to its production or original cost. It is the amount of equity which is contributed by an investor as a security percentage held in the account based on the current market value.

Credit appraisal

It is a process which appraises lenders and evaluates his economical viability, bankability, technical feasibility, including the creditworthiness of the potential borrower. This process works at assessing whether the applicant is liable to pay the loan amount in the given duration or not.

Disbursement (Full, Partial, Advance)

It is an act of repaying in parts or by disbursing the money, such as cash expenditures, dividend payments or money paid out for running a business etc.

  • Full: This will allow you to start you EMI for the lending amount after the 1st installment is transferred in the bank.
  • Partial: This facility demands the applicant to make a significant amount installment before opening an EMI account with the bank.
  • Advance: This facility allows the applicants to immediately start paying for their EMI’s. 

Sanction Letter

A sanction letter is a proof that applicant is eligible for availing a certain amount, as a loan from a particular bank or lender.


It is simply the action of paying back a loan. This repayment is usually divided in installments, known as EMI which includes principal as well as interest amount that needs to be paid regularly till a certain period of time. 


A type of loan used for purchasing property, with the motto to raise funds, in order to invest in a real estate. This loan is sanction by taking the title of debtors’ property.

Home Equity Loan

A type of loan in which the borrower puts the equity of the house as collateral and the loan amount is determined by the value of that particular house.

Pre- approved property

These are the properties, which have a clear marketable title as per the law and tech formalities, according to TSR (Title Search Report) by the bank, in order to sanction the loan.

Equated Monthly Installments

EMI is fixed amount of payment, which the lender has to pay at the specific date of every month till the whole amount is repaid. These installments include both interest and principal amount.

Advance Disbursement Facility

ADF allows the borrowers or the applicants to automatically start their EMI payments from the first month of loan sanction without any delay.


Pre-EMI is the amount of interest applicable to the loan itself. It is paid during the time when a house is being constructed. It ends with the completion of construction. This pre-EMI payment period does not consist of the actual loan tenure.

Down Payment

It is a payment made by the purchaser instead of the bank as an upfront portion of the initial total amount, which is given in the form of cash during the final transaction. The borrower later repays this loan in form of installments till due time. It also affects the interest rate on the principal amount, higher down payment leads to lower interest rates.

Freehold Property

It is an estate that is free from the hold of any external entity besides its owner. Hence the owner enjoys free ownership of the property or land.

Leasehold Property

It is a property in which a temporary owner has a temporary hold or right over the property, in which the original right and power still remains in the hands of the landlord.

Post Dated Cheques

In banking, it is a form of a cheque which is written for a future date by the drawer or the payer. These are used in the cases of deliberately delayed payment and as a collection method to cover up a series of future payment.

Processing and Administrative Fees

This is a mandatory fee which the applicant needs to pay after applying for the loan. These documentations mainly include the details about the applicant as well as the lender, listing all the important details about the loan. Basically, it is charged to process the loan application.