LoanFront Personal Loan
Get instant personal loans of ₹10,000 to ₹2,00,000 online from LoanFront at an attractive interest rate starting from 15.95% p.a. Salaried as well as self-employed individuals can apply for these loans. Funds are disbursed quickly, within 10 minutes of approval, directly to your bank account. The borrowed amount can be repaid within a flexible tenure of 3 to 24 months.
LoanFront Personal Loan Details
Here are the LoanFront personal loan key details:
| Loan Amount | ₹10,000 - ₹2 Lakhs |
|---|---|
| Tenure | 3 - 24 months |
| Interest Rate | 15.95% - 35.95% p.a. |
| Processing Fee | 1% - 7.5% of the loan amount |
| Age | 21 - 60 years |
| Minimum Income | Above ₹10,000 per month |
| Credit Score | Above 600 |
Features & Benefits of LoanFront
Below are the main attractions of the LoanFront personal loan:
- Loan amount ranging from ₹10,000 to ₹2 Lakhs to cover all your minor expenses to major investments.
- 100% paperless online process with quick approval.
- Funds disbursal in just 10 minutes of approval directly to your bank account.
- Flexi Loan up to ₹30,000 is available for 3 to 12 months to cater to your individual financial needs.
- LoanFront is available 24/7.
- LoanFront has simplified the verification process with no extensive documents needed.
- Instant fund transfers to your bank account without delays.
- Pay back your loan easily within 3 to 24 months with hassle-free repayment choices that suit your financial comfort.
- Easy repayment via UPI Apps, Payment Gateways, or Auto Debit (eNACH/eMandate).
LoanFront Personal Loan Interest Rates & Charges
The interest rate and charges associated with the LoanFront personal loan are as follows:
- Interest Rate: 15.95% to 35.95% p.a. based on a monthly reducing principal balance.
- Processing fee: 1% to 7.5% of the loan amount based on the risk profile and loan amount.
- Annual Percentage Rate (APR) range: 17% to 70% based on risk profile.
- Late payment fee: 3% of the overdue principal + applicable GST, for each delayed EMI.
- Penal interest: A daily interest rate of 36% p.a. is applied to the overdue amount until cleared.
- GST will be applicable only on the fee components as per Indian laws.
Compare LoanFront App with Other Loan Apps
Below is a comparison of the LoanFront app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| LoanFront | 15.95% - 35.95% p.a. | ₹10,000 - ₹2 Lakhs | 3 to 24 Months |
| Xpress Loan | 9.90% p.a. onwards | ₹5,000 - ₹1 Lakh | Up to 36 months |
| LoanPey | 2% - 2.72% per month | ₹5,000 - ₹1 Lakh | 3 to 12 Months |
| Creditt+ | 0.3% - 0.6% per day | ₹8,000 - ₹35,000 | Up to 3 Months |
| Click My Loan | 12.00% - 28.5% p.a. | ₹6,000 - ₹10 Lakh | 6 to 60 Months |
| TrustPaisa | 18.25% p.a. onwards | ₹2,500 to ₹45,000 | 3 to 6 Months |
| RING | 3.8% p.m. onwards | ₹5,000 - ₹5 Lakh | 3 to 36 Months |
| Upwards | 16.00% – 36.00% p.a. | ₹25,000 – ₹5 Lakh | 6 to 36 Months |
| FLot Loan | 2% p.m. onwards | ₹1,000 – ₹99,000 | 3 to 12 Months |
| Jupiter Money | 1.33% p.m. onwards | Up to ₹5 Lakh | 3 to 24 Months |
Eligibility Criteria for LoanFront Personal Loan
Here are the eligibility parameters for the LoanFront personal loan:
- Nationality: Indian nationals residing in serviceable areas anywhere in India.
- Age: 21 to 60 years old.
- Income: A steady monthly income of more than ₹15,000.
- Profile: Salaried as well as self-employed.
- Good credit score: Above 600
Documents Required for LoanFront Personal Loan
Below are the documents and other requirements for the LoanFront personal loan:
- Photograph (Selfie)
- Identity proof (PAN)
- A government ID as address proof (Driving License/ Voter ID/ Passport/ Aadhaar Card)
- A valid Bank Account and PAN Card are mandatory
- An active Mobile Number or Gmail Account
- An Android phone with a working internet connection
- Income proof
Steps to Apply for a LoanFront Personal Loan Online
You need to complete the steps mentioned below to apply for the LoanFront personal loan online:
- Download and install the LoanFront personal loan app.
- Sign up using your mobile number and email ID.
- Complete the KYC process using any of the multiple options on the app and check your loan eligibility.
- Complete your profile.
- Provide your bank account details.
- Read and sign the Loan Agreement containing the Key Facts Statement.
- Get funds disbursed to your bank account on approval.
LoanFront Customer Care Details
- Phone Support: Call us at 080-48126351
- Available: Monday – Saturday, 9:30 AM – 6:30 PM
- Email Support: Send your queries to support@loanfront.in
FAQs
Yes, the LoanFront app is a digital lending platform powered by Vaibhav Vyapaar Private Limited, a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI).
Yes, the LoanFront app is generally considered safe as it operates through an RBI-registered NBFC.
The interest rate for the LoanFront personal loan ranges from 15.95% to 35.95% p.a. based on a monthly reducing principal balance.
Missing a LoanFront EMI payment results in an immediate late payment fee of 3% of overdue principal + GST, a high penalty interest of 36% p.a. applied daily, and a negative impact on your credit score.
To apply for a LoanFront personal loan, you will need a credit score of above 600.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.