Frequently Asked Questions

A CIBIL score of 750 or above is generally considered good for loan approval. Scores between 650–749 may qualify but with higher interest rates. Below 650, approval becomes difficult. Banks prefer 750+ for the best rates and terms.

No. KYL Lite is based on your self-declared data with zero impact on your CIBIL score. KYL Pro matches your bureau data through a soft inquiry — still no hard enquiry, so your credit score remains unaffected.

KYL uses industry-standard parameters that Indian banks typically consider — PSU, Private, and NBFC lending criteria. While it is not a final guarantee of approval, it provides a highly reliable indicator of your bank readiness.

EMI (Equated Monthly Installment) is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N−1], where P = Principal loan amount, R = Monthly interest rate (annual rate ÷ 12 ÷ 100), N = Number of months. Use our EMI Calculator for quick calculations.

For floating rate loans (home loans, personal loans), RBI guidelines allow zero prepayment charges. For fixed rate loans, banks may charge 2–5% prepayment penalty. Check your loan agreement for specific terms. Many banks now offer zero prepayment for all loan types.

Pre-qualified: Soft check based on basic information, no credit impact, gives estimate. Pre-approved: Hard check after document verification, affects credit score slightly, almost guaranteed approval. Pre-approved offers are usually from your existing bank based on your relationship.

A co-applicant (spouse, parent) increases combined income, improving eligibility amount. Their credit score is also considered, so ensure they have good credit. Co-applicants share equal liability. In home loans, co-applicants get tax benefits too.

Typically required: (1) Identity proof: Aadhaar, PAN, Passport (2) Address proof: Aadhaar, utility bills (3) Income proof: 3–6 months salary slips, bank statements, Form 16 or ITR (4) Employment proof: Offer letter, ID card. Self-employed need business proof and 2–3 years ITR.

KYL is a comprehensive assessment tool that evaluates your loan readiness across 6 key pillars. It gives you a clear picture of where you stand before applying for a loan — along with a detailed action plan to improve your chances.

Don't worry! A low KYL score comes with a clear 3-step improvement plan. Most profiles can be significantly improved within 60–90 days by following the recommended actions. Reassess after making improvements.

KYL Lite is a self-declared assessment — instant, free, zero credit impact. KYL Pro adds bureau verification, deep income analysis, and a full lender-match report. Think of Lite as a health check and Pro as a complete diagnostic.

Yes. CredZen does not sell, share, or rent your personal information. All data is encrypted in transit and at rest. We are ISO 27001 compliant and follow RBI data localisation guidelines. You can request deletion of your data at any time.

No. KYL Lite works without an account — just answer the questions and get your score instantly. KYL Pro requires contact details for report delivery. No login is needed for a basic assessment.