Frequently Asked
Questions

Unique Consultancy is an authorised banking channel partner and financial advisory firm based in City Centre, Durgapur, West Bengal. With over 15 years of experience and partnerships with 80+ banks and NBFCs, we assist individuals and businesses across India with:

• Business & Commercial Loans
• Personal Loans
• Home Loans & Mortgage Loans
• OD / CC Facilities
• Life & General Insurance
• Mutual Fund Investments

Our office is located at City Centre, Durgapur, West Bengal. You can reach us by phone at +91 78120 64987 or +91 93325 89651, via WhatsApp, or by email at uniqueconsultant2024@gmail.com. We also serve clients from across West Bengal and the rest of India remotely.

Yes. Our initial loan consultation and assessment is completely free of charge. We evaluate your profile, explain your options, and advise on the best course of action — with no commitment required. Contact us to book your free consultation today.

We believe in complete transparency. Any applicable service fees will be clearly communicated upfront before you proceed — there are absolutely no hidden charges. Please contact us directly for a detailed breakdown of our fee structure for your specific requirement.

Yes. While we are headquartered in Purulia-Bankura-Durgapur-Asansol region, we serve clients across West Bengal and pan-India for most loan and financial product categories. Our 80+ banking partners have a national presence, enabling us to assist you regardless of your location.

We facilitate a comprehensive range of loan products, including:

• Business Loans (working capital, expansion, MSME)
• Commercial & Project Finance Loans
• Personal Loans (salaried & self-employed)
• Home Loans (purchase, construction, renovation)
• Loan Against Property (Mortgage Loans)
• Overdraft (OD) & Cash Credit (CC) Facilities
• Balance Transfer & Top-Up Loans

Absolutely. We serve both salaried individuals and self-employed applicants, including:

• Self-employed professionals: Doctors, CAs, architects, lawyers, engineers
• Self-employed non-professionals: Business owners, traders, manufacturers, contractors

Our lender network includes options specifically designed for non-standard income profiles. We assess your ITR, bank statements, and business vintage to identify the best fit.

Minimum income eligibility varies by lender and product. Typically, for salaried personal loans, a net monthly income of ₹15,000–₹25,000 is the starting threshold for most banks. For self-employed applicants, lenders look at annual ITR profitability. We assess your exact profile and match you with lenders whose criteria you meet.

Most banks require a minimum business vintage of 2–3 years. However, some NBFCs and government-backed schemes (such as MUDRA loans, Startup India, etc.) offer credit for newer businesses. We evaluate your specific situation and guide you toward the most suitable options available.

Loan amounts depend on the type of loan, your income, credit profile, and the lender's policy. As a general guide:

• Personal Loans: ₹50,000 – ₹40 Lakhs
• Business Loans: ₹1 Lakh – ₹5 Crores+
• Home Loans: Based on property value and income (typically up to 75–80% of property value)
• Loan Against Property: Up to 60–70% of property value

Contact us for a personalised eligibility estimate.

Yes. A Loan Against Property (LAP) allows you to unlock the value of your residential or commercial property for business expansion, education, medical expenses, or other financial needs. We assist with end-to-end processing including valuation, legal verification, and lender selection to get you the best rate.

Business loan amounts depend on your business turnover, vintage, profitability, credit score, and the specific lender's policy. We assess your profile and identify the most suitable loan amount range before application.

Not necessarily. Many lenders offer unsecured business loans up to certain limits based on business profile and credit score. We help identify which lenders suit your collateral situation.

Most lenders require a minimum of 2–3 years of business vintage, though some offer products for newer businesses. We assess your specific situation and match you accordingly.

Processing timelines vary by lender and depend on documentation completeness. We facilitate the process and keep you informed at every stage. We cannot guarantee specific timelines.

A low credit score affects eligibility. We assess your complete profile and may suggest credit improvement steps or identify lenders with alternative assessment criteria.

Commercial loans can cover industrial machinery, manufacturing equipment, commercial vehicles, office premises, warehouses, and other business assets. We identify lenders suited to your specific asset category.

For larger commercial loans and project financing, lenders typically require a project report or business plan. We can guide you on what to include and how to structure it.

Most lenders prefer businesses with some operating history. However, some products are available for newer businesses with adequate collateral or promoter credentials. We assess case-by-case.

Tenure varies by asset type and lender — typically 3–10 years for equipment and machinery, and up to 15–20 years for commercial property loans.

Commercial loan amounts are based on asset value, business turnover, credit profile, and lender policy. We assess your eligibility and provide a realistic estimate.

Home loan amounts are typically based on your income, existing obligations, property value (LTV ratio), and lender policy. We assess your eligibility and give you a realistic estimate.

Loan-to-Value (LTV) is the percentage of property value that a lender will finance. Most lenders fund 75–90% of the property value depending on the loan amount and property type.

Yes. Most banks and HFCs offer home loans for under-construction properties with disbursement linked to construction stages. We guide you on lenders suitable for this.

Balance transfer means moving your existing home loan from one lender to another offering a lower interest rate. We calculate your savings and handle the transfer process.

Principal repayment qualifies for deduction under Section 80C (up to ₹1.5L) and interest payment under Section 24(b) (up to ₹2L for self-occupied). Please consult your CA for specific advice.

Loan-to-Value (LTV) is the percentage of the property's market value that a lender will finance. For mortgage loans, this is typically 60–70% of the property value, depending on the lender and property type.

Yes. Most lenders in our network accept both residential and commercial properties as collateral for mortgage loans, though LTV ratios and rates may differ.

The property is pledged as collateral — you retain possession and can continue using it. The lender holds the title documents as security until the loan is fully repaid.

A mortgage loan is secured (collateral required) and typically offers larger amounts, lower interest rates, and longer tenure. A personal loan is unsecured with faster processing but smaller amounts and higher rates.

Most lenders allow prepayment, sometimes with a prepayment penalty. We advise on lender-specific terms before you apply.

Both are revolving credit facilities but differ in security. Overdraft is typically secured against FDs, property, or other assets. Cash Credit is specifically designed for businesses and is secured against stock, debtors, or book debts. We help identify the right product for your situation.

Businesses with a track record of operations, satisfactory bank account history, and adequate security or turnover are generally eligible. We assess your profile and identify suitable lenders.

Depending on the lender and product, security can be FDs, property, stock, debtors, or business turnover. Some lenders also offer unsecured OD facilities to established businesses.

No. A business loan is a term loan with fixed EMIs. OD/CC is a revolving credit line where you use what you need and pay interest only on utilisation. Both serve different purposes.

The sanctioned limit is typically based on your business turnover, stock value, debtor levels, property value (if secured), and the lender's policy. We assess your eligibility and guide you accordingly.

Salaried employees (government, PSU, private), self-employed professionals, and individuals with stable income are generally eligible. Eligibility also depends on income level, credit score, existing obligations, and the lender's criteria.

Interest rates vary by lender, applicant profile, credit score, and employment type. We help identify lenders offering the most competitive rates for your specific profile.

Most lenders allow prepayment after a lock-in period, sometimes with a prepayment charge. We provide guidance on lender-specific prepayment terms.

A CIBIL score of 700+ generally improves personal loan eligibility. We also offer credit profile guidance to help you improve your score before applying.

For a personal loan, you generally need:

• Identity Proof: Aadhaar Card, PAN Card, Passport, or Voter ID
• Address Proof: Aadhaar, utility bill, or bank statement
• Income Proof (Salaried): Last 3 months' salary slips, 6 months' bank statement, Form 16
• Income Proof (Self-Employed): Last 2 years' ITR with computation, P&L statement, 12 months' bank statement
• Passport-size photographs

Requirements may vary slightly by lender. We guide you on the exact checklist for your chosen bank.

For a business loan, you typically need:

• KYC: PAN, Aadhaar of proprietor/directors/partners
• Business registration proof (GST certificate, Shop Act, MSME Udyam registration)
• Last 2–3 years' ITR with CA-certified financials (P&L, Balance Sheet)
• 12 months' business bank statements
• Office address proof
• For secured loans: Property documents, title deed

Home loan documentation includes:

• KYC: Aadhaar, PAN, photographs
• Address proof and income proof (as above)
• Property Documents: Sale agreement, title deed, property tax receipts, NOC from builder/society, approved building plan, encumbrance certificate
• For under-construction properties: Builder-bank approval, allotment letter

We assist with document verification and liaise directly with banks on your behalf.

For initial processing and eligibility check, scanned copies or digital documents (PDF, JPEG) are generally sufficient. However, most lenders require original documents or self-attested copies at the time of final disbursement. We guide you through exactly what is needed at each stage.

Timelines vary significantly by loan type and lender:

• Personal Loans: 1–7 working days (some as fast as 24 hours)
• Business Loans: 5–15 working days
• Home Loans: 2–4 weeks (includes legal and property verification)
• Mortgage Loans: 2–6 weeks

We proactively follow up with lenders to keep the process moving and keep you informed at every step.

No. Loan approval is the sole decision of the lending institution, based on their eligibility criteria, credit assessment, and internal policies. We cannot guarantee approval or specific terms. What we do is ensure your application is meticulously prepared, submitted to the most suitable lender for your profile, and professionally followed up — maximising your chances of approval.

If a lender rejects your application, we:

• Understand the reason for rejection from the lender
• Advise you on corrective steps (e.g., improving CIBIL, adding co-applicant, adding collateral)
• Identify alternative lenders in our network who may have different criteria
• Re-submit your application to a more suitable lender when ready

A rejection from one lender does not close all doors — we work to find a path forward for you.

Yes, most loans can be prepaid or foreclosed. As per RBI guidelines, banks cannot charge prepayment penalties on floating-rate home loans. For fixed-rate loans and personal loans, some lenders may charge a prepayment fee (typically 2–5% of the outstanding principal). We help you understand the prepayment terms before you sign so there are no surprises.

Yes. If you have an existing home loan, personal loan, or business loan at a high interest rate, we can help you transfer it to a new lender offering better terms. A balance transfer can significantly reduce your EMI or total interest outgo. We evaluate whether the savings justify any switching costs involved.

We offer advisory and facilitation for:

• Life Insurance: Term plans, endowment plans, ULIPs, whole life policies
• Health Insurance: Individual, family floater, senior citizen plans
• Motor Insurance: Two-wheeler and four-wheeler comprehensive/third-party cover
• Property & Home Insurance: Cover against fire, theft, natural calamities
• Business Insurance: Commercial property, employee group health

We compare plans across leading insurers to find the best coverage at the best premium.

No. Banks cannot legally force you to purchase insurance as a condition of loan sanction. However, lenders may strongly recommend (and sometimes bundle) home loan protection plans. We advise you on what is genuinely beneficial versus what is unnecessary, so you can make an informed decision.

A common rule of thumb is to have life cover equal to at least 10–15 times your annual income, plus any outstanding liabilities (home loan, business loans, etc.). The right amount depends on your dependents, liabilities, lifestyle, and financial goals. We provide a personalised needs analysis during our advisory session.

Health insurance is not legally mandatory for individuals, but it is strongly recommended given rising medical costs. It is mandatory for employers to provide medical cover to employees under certain regulations.

Third-party insurance is legally mandatory and covers damage to others (not your vehicle). Comprehensive insurance covers both third-party liability and your own vehicle damage.

Yes. Health insurance portability allows you to switch insurers while retaining accumulated no-claim bonuses and waiting period credits. We can guide you through the process.

NCB is a discount on your renewal premium for every claim-free year. It can accumulate up to a significant percentage and is transferable when you switch insurers.

Claim processes vary by product and insurer. We provide guidance on notification timelines, documentation required, and working with the insurer's surveyor for a smoother claim experience.

Term insurance provides pure life cover — it pays out only if you die during the policy term. Endowment plans combine savings with protection — they pay out on death or at maturity. Term plans are cheaper; endowment plans build a corpus.

A common guideline is 10–12 times your annual income, but the right amount depends on your liabilities, dependants, and financial goals. We help you calculate an appropriate cover amount.

Most policies have a grace period (typically 30 days). If unpaid after the grace period, the policy lapses. However, policies can often be revived within a specified period. We explain lapse and revival terms clearly.

Yes. Life insurance premiums paid are eligible for deduction under Section 80C of the Income Tax Act, up to ₹1.5 lakhs per year (combined with other eligible investments). Please consult your CA for personalised advice.

Yes, subject to certain conditions. We can guide NRI clients on the applicable rules and suitable products from our insurer network.

A Systematic Investment Plan (SIP) allows you to invest a fixed amount in a mutual fund at regular intervals (monthly, quarterly). The power of SIP lies in rupee cost averaging — you buy more units when markets are low and fewer when they're high — and compounding over long periods. Even ₹500/month invested systematically can create significant wealth over 10–20 years.

Mutual funds are subject to market risk, and returns are not guaranteed. However, risk levels vary by fund type — debt funds carry lower risk, while equity funds carry higher risk but have historically delivered better long-term returns. We assess your risk appetite, investment horizon, and goals to recommend the most appropriate category and fund for you.

ELSS (Equity Linked Savings Scheme) is a category of mutual fund that qualifies for tax deduction under Section 80C of the Income Tax Act, up to ₹1.5 Lakhs per year. It has the shortest lock-in period of all 80C instruments — just 3 years. ELSS funds invest primarily in equities, so they carry market risk but also offer potential for higher returns than traditional tax-saving instruments.

Many mutual fund SIPs can be started with as little as ₹100 to ₹500 per month. There is no maximum limit. You can start small and increase your SIP amount as your income grows using a step-up SIP option. We help you choose the right fund and set up your investment seamlessly.

A mutual fund pools money from multiple investors and invests it across a diversified portfolio of stocks, bonds, or other assets, managed by a professional fund manager. Investors own units proportional to their investment.

A Systematic Investment Plan (SIP) allows you to invest a fixed amount regularly (monthly/quarterly) in a mutual fund. It benefits from rupee cost averaging and compounding over time.

SIP investments can start from as low as ₹100–₹500/month depending on the fund. Lump sum investments typically have a minimum of ₹1,000–₹5,000.

Redemption can be done online or through your advisor. Proceeds are typically credited within 1–3 business days (T+1/T+2) for equity funds. ELSS funds have a 3-year lock-in.

Most banks and major NBFCs require a CIBIL score of 700 or above for standard loan approval. A score of 750+ is considered excellent and may fetch better interest rates. Scores below 650 can significantly reduce approval chances, though some lenders may still consider applications under specific conditions.

A low CIBIL score makes loan approval more challenging, but not always impossible. Some lenders — particularly NBFCs — consider applicants with lower scores if they have strong income, collateral, or co-applicants with a good credit profile. We assess your individual situation, advise on credit improvement steps, and identify lenders that may be suitable for your profile.

Key steps to improve your CIBIL score include:

• Pay all EMIs and credit card bills on time, every time
• Keep your credit utilisation below 30% of your credit limit
• Avoid applying for multiple loans simultaneously
• Maintain a healthy mix of secured and unsecured credit
• Regularly check your CIBIL report for errors and dispute any inaccuracies

Score improvement typically takes 6–12 months of consistent discipline. We offer credit profile guidance as part of our advisory services.

No. Checking your own CIBIL score is a "soft inquiry" and does not affect your score at all. However, when a bank or lender checks your score (a "hard inquiry") during a loan application, it can have a minor temporary impact. This is why we recommend targeted applications to the right lenders rather than applying to multiple places simultaneously.