What Is a Line of Credit (LOC)?

A line of credit {LOC} is a preset borrowing limit that can be tapped into at any time. The borrower can take money out as needed until the limit is reached. As money is repaid, it can be borrowed again in the case of an open line of credit.

A LOC is an arrangement between a financial institution—usually a bank—and a customer that establishes the maximum loan amount the customer can borrow. The borrower can access funds from the line of credit at any time as long as they do not exceed the maximum amount (or credit limit) set in the agreement. This facility is only available to Resident Indians in sourceable pincodes of the servicing and issuing company partner.

Currently, we can assist you in applying with Stashfin. In case you apply directly on playstore app, you will be exempted from various features and built in offers like free credit period till bill dates. You can take our assistance to apply and complete your application journey that shall be defined by your source codes. Keep your Pan card, Aadhar card, 4 month recent salary bank statement (Email PDF format),current address proof (Utility Bills & rent agreements), 2 reference names with email, mobile and address ready for your application. Watsapp below these details for us to generate a lead, then you can complete rest of the steps yourself on the app.

Disclaimer: Applications are subject to declines based on stashfin underwriting decisions and policy changes from time to time without any prior notice. Honest champions will not be liable for any service gaps from the issuing NBFC.