FREQUENTLY ASKED QUESTIONS
General Questions About KwikSalary
Who is KwikSalary?
KwikSalary is a trusted NBFC (RBI: B-14.01740), a unit of Gagan Metals Limited, offering instant loans to salaried individuals for urgent needs like medical expenses, travel, or family support, with a focus on transparency and ethical lending.
What types of loans does KwikSalary offer?
We provide short-term, unsecured loans, including Advance Salary Loan, Personal Loan, Medical Loan, Travel Loan, Emergency Loan, and Family Support Loan, ranging from ₹5,000 to ₹1,00,000.
Where does KwikSalary operate?
Our services are available in Delhi/NCR, Mumbai, Bengaluru, Pune, and Hyderabad, catering to salaried individuals with quick loan solutions.
Is KwikSalary regulated by any authority?
Yes, we are an RBI-registered NBFC (B-14.01740) and strictly follow RBI’s fair practices code to ensure responsible and ethical lending.
What makes KwikSalary different from other lenders?
Our commitment to trust, transparency, no-penalty early closure, minimal documentation, and ethical recovery practices sets us apart, ensuring you get quick loans without stress.
What is the minimum loan amount I can apply for?
You can apply for a minimum loan of ₹5,000, perfect for small, urgent expenses.
What is the maximum loan amount available?
Our loans go up to ₹1,00,000, providing flexibility for various financial needs.
Do I need to provide collateral for a KwikSalary loan?
No, all our loans are unsecured, meaning you don’t need to pledge any assets.
Can self-employed individuals apply for a KwikSalary loan?
Currently, our loans are available only to salaried individuals with a stable job and a minimum monthly salary of ₹40,000.
What happens if my application is rejected?
If your application doesn’t meet our eligibility criteria, we’ll inform you promptly. You can contact us at info@kwiksalary.com to understand the reason and explore options.
What is the tenure of KwikSalary loans?
Our loans have a tenure of up to 90 days, designed for short-term financial needs.
What is the interest rate for KwikSalary loans?
The daily ROI ranges from 0.25% to 1.00%, translating to an APR of 18% to 36%, depending on your loan terms.
Are there any processing fees?
Processing fees range from 0% to 10% of the loan amount, disclosed upfront during the application process.
What are cheque bounce charges?
If a cheque bounces, a charge of ₹1,000 applies, as outlined in our transparent terms.
Can I see the loan terms before applying?
Yes, our website provides detailed terms, including ROI, APR, fees, and tenure. You’ll also receive a clear agreement before signing.
What repayment methods are available?
You can repay via cash, bank transfer, UPI, debit card, credit card, cheque, or draft—choose what’s most convenient for you.
Can I extend my loan tenure if needed?
Tenure extensions are subject to approval. Contact us at info@kwiksalary.com to discuss your situation.
What if I face issues repaying on time?
Reach out to our Grievance Redressal Cell at info@kwiksalary.com. We’ll work with you to find a solution and avoid penal charges (1.25x ROI).
How does KwikSalary handle loan recovery?
We use ethical, non-coercive methods for recovery, adhering to RBI guidelines to ensure fairness and respect.
How can I contact KwikSalary for support?
Reach us at info@kwiksalary.com or call +91-9289566951 (Mon-Sat, 10 AM to 6:30 PM) for any queries or assistance.
What is KwikSalary’s Grievance Redressal process?
We address complaints within 5 working days. Email your concern to info@kwiksalary.com, and we’ll resolve it promptly.
Can I escalate a complaint if unresolved?
If you’re not satisfied, you can escalate your complaint to the RBI’s NBFC Ombudsman. Contact details are available on the RBI website.
Is my personal information safe with KwikSalary?
Yes, we follow strict data protection protocols to safeguard your information, ensuring compliance with RBI and legal standards.
How can I provide feedback about my experience?
We value your feedback! Email us at info@kwiksalary.com to share your thoughts or suggestions.
