1. What are the benefits of availing Rocketloanz ‘Home Buyer Assistance Program’?
This program offers up to 50% assistance with the home buyer’s contribution towards the home purchase, including interest-free options for purchases made through enlisted developers. It is an unsecured, interest-free loan that can be repaid in flexible instalments of 3, 6, 9 or 12 EMIs. The loan covers the down payment, stamp duty, registration fees, and other intermediate or ancillary charges.
2. How can I check if I qualify for Rocketloanz ‘Home Buyer Assistance Program’?
To qualify for the Rocketloanz program, the following are essential:
- Indian citizen
- Should have a valid email address & mobile number
- Age – 21 years and above
- Personal Bank account with an access to Net Banking
3. Do I have to provide any security or collateral to get Personal Loan from Rocketloanz (through its Lending Partners)?
No. This is an unsecured loan which does not require any security or collateral. We have specific criteria that we assess to determine eligibility in line with the policy of Lending partners. As long as those criteria are met and necessary documentation are submitted, there is no need to pledge any assets as security.
4. What could be the reasons where Rocketloanz decided to reject my loan application?
At Rocketloanz, we have established specific eligibility requirements that applicants must meet. Loan applications may be declined for various reasons, including factors such as your credit score, income level, employment history etc., which are often key considerations in the approval process. Your application will only be accepted if your profile aligns with the lender’s eligibility criteria.
5. Are there any restrictions on how I can use my loan from Rocketloanz?
It has to be used specifically towards upfront costs associated with home-buying process i.e. towards down-payment, stamp duty, registration charges and other ancillary charges.
6. What needs to be done if someone leaves their loan application in the mid-way?
In case the loan application is left mid-way, the same can be completed within a set reasonable time frame.
7. Are Rocketloanz and Lending Partner same? Or are they two separate entities?
Rocketloanz will act as Lending Service Provider i.e. sourcing, underwriting support, servicing, monitoring, collection and loan recovery will be done by Rocketloanz on behalf of Lending Partner (NBFC, Banks, FI’s). Rocketloanz will act as a facilitator (through its digital platform) in this entire process. Disbursement shall be done by the Lending Partner i.e. Sanction letter shall be issued by them. Loan agreement as well as Online NACH shall be issued by the Lending partner.
8. From where can the homebuyer download SOA/Repayment schedule?
The homebuyer / customer can log onto the official website of the Lending Partner to download the SOA / Repayment Schedule. Alternatively, homebuyers / customers can communicate to the Lending Partner via email. Details of the Lending partner shall be mentioned on Loan agreement/Sanction letter.
In case of non-response from Lending Partner, the same may be communicated to Rocketloanz.
” We are having only web-based platform and does not ask customers to download any mobile app. Kindly connect us immediately if anyone asks to download any app on behalf of our company”