Frequently asked questions
Everything customers ask before their first loan, answered plainly.
General
Is Mayan Finserv a bank?
No. We are a loan distribution and referral partner. Loans are sanctioned and disbursed by the bank or NBFC you sign with. We arrange, compare and process.
What does it cost me?
Nothing. Consultation and processing support are free. Lenders pay us on disbursal. The lender's own processing fee, if any, is disclosed to you before acceptance.
Is my data safe?
Documents are shared only with the lender you approve, over their official channels. We do not sell or share your data with anyone else. See our privacy policy.
Do you handle loans outside Adoni?
Yes. Doorstep service in Kurnool, Nandyal, Bellary and Raichur districts, and remote processing anywhere in AP, Telangana and Karnataka.
Eligibility and credit
What CIBIL score do I need?
750 and above for the best rates. 700 to 750 is comfortable. 650 to 700 is possible with some NBFCs. Below 650, let us look at the report before applying anywhere.
I am new to credit. Can I get a loan?
Yes, through secured products (car, home, LAP) or a secured credit card first. Some NBFCs also lend small personal loans on salary credits alone.
Can I add a co-applicant?
Yes, a spouse, parent or sibling with income increases eligibility. For property loans, all owners must be co-applicants.
Process
How long does a loan take?
Personal and car: 1 to 3 days. Home and LAP: 7 to 15 days. Business loans: 3 days to 6 weeks depending on product.
Do I have to visit the bank?
Usually once, to sign the agreement and for a video or physical KYC. Everything else we handle.
Can I prepay or close early?
Floating rate loans to individuals have no foreclosure charge on home loans and LAP. Personal and business loans carry 2 to 4 percent. We tell you the exact number before you sign.