Frequently Asked Questions on Reverse Auction at

How do I start Reverse Auction at

You just need to log on to and start your application by clicking “Request For Quote”. You can also login using your smartphone as Gullakh is fully mobile responsive.

Why is Reverse Auction at better than any other loan comparison website?

Gullakh is a dynamic platform where Loan terms being offered to you keep getting better in real time. Also for us, you are not a just a Lead on a spreadsheet to be sold to multiple lenders. Your contact information is kept hidden until the time you choose a lender. So you enjoy anonymity while the banks sweat it out to give you the best offer.

Is there any fee charged for Reverse Auction at

Reverse Auction at is an obligation and costs FREE, for all.

Is there any commitment to take a loan once the Reverse Auction at ends?

No commitments are taken from you. Our aim is to make you save money, by getting you the lowest rate and best terms of your loan. Take your time. Once you click ‘Declare Winner’, only the chosen lender will contact you. The final choice rests with you.

How many times can I use Reverse Auction at

Once you have a request for quote in Reverse Auction at, you will need to wait for a minimum of 30 days to use the platform again for the same kind of loan. However, if under special circumstances, you were unable to complete your loan application, please contact us at Gullakh shall review your case and based on the situation may get it organized again for you.

Why do you need my personal information?

The information taken from you helps us get you the best rate on loans. After entering your basic details, including Pincode, occupation, salary, year of birth and PAN, we pull an Equifax credit score, on your behalf and share the score with the lenders. They’ll review your information and customize their bid to your needs and profile. Also, this Credit Score inquiry is a “soft inquiry” and does not impact your score.

What is the cut-off Equifax Credit Score to participate in Reverse Auction at

Since we’re committed to getting the best interest on loans for the consumers, we only allow high creditworthy applicants to participate in Reverse Auction at Your Equifax Score should be above 650 to qualify for placing your application.
Banks pricing is based on the risk involved in the applicant. Applicants with high credit scores make the competition intense, thereby getting loans at cheaper rates.

Will Gullakh accessing my credit score have any impact on my credit score?

No. When Gullakh pulls your credit score it is a soft inquiry. You get a copy of your Credit Report too. It will not affect your credit score and the inquiry will not be visible to any lender.

Will the chosen lender access my credit report pulled by Gullakh?

No. Once you have declared a winner by accepting the offer, you will be connected to the successful lender. They’ll contact you to arrange a formal loan application, which would result in a hard inquiry and pulling of your credit report.

What happens to my personal information?

During Reverse Auction at, lenders will only have access to basic information, which cannot identify you. When you accept an offer and declare a winner, only that lender will receive your personal file. Please read our Privacy Policy Statement for further details on the secure collection and storage of your personal information.

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