Prefr Personal Loan Details

Following are the key details of Prefr personal loan

Loan amountRs. 50,000 to Rs. 5 Lakhs
Eligible borrowersSalaried individuals and self-employed individuals
Age22 years to 55 years
IncomeSalaried- Rs. 18K  & Self Employed- Rs. 20K
PurposeWedding, events, home renovation, business needs, personal use, education, medical emergency & loan repayment
Tenure12 to 48 months
Rate of interest15% to 36% per annum
Processing Fee3% to 5% of the loan amount
Disbursal TATWithin 2 hours after document verification
Foreclosure charges5% of Principal Outstanding
Installment CycleMonthly EMI - deducted via automated mandate on 5th of every month

Prefr Personal Loan Features

Following are some attractive features of Prefr loans:

  • Get an instant personal loan from Rs. 50,000 up to Rs. 5,00,000 for not just personal but also professional needs.
  • Prefr loan interest rate ranges from 15% to 36% per annum.
  • A processing fee of 3% to 5% of the loan amount, subject to a minimum of Rs. 1,500 + GST, will be charged.
  • No security is required to be kept with Prefr to get a loan.
  • Prefr loan app offers Term Loans for Self-Employed with flexible tenure ranging from 12 to 48 months that will help them grow their business.
  • Prefr offers Personal Loan for Salaried for their medical, home upgrade, wedding expenses and other personal needs for tenure ranging from 12 to 48 months with easy EMIs.
  • No CIBIL score is required as Prefr uses borrower’s banking data to generate their offer. 
  • Get loan approval in just one minute flat once you provide all the necessary details.
  • Money will be disbursed to your bank account within 2 hours after successful document verification.
  • Prefr is a great platform for availing of a personal loan. To know about its benefits, you can read Prefr loan reviews online

Prefr Personal Loan Interest Rate

Prefr credit loan interest rate is affordable and fixed between 15% to 36% per annum depending on the borrower’s eligibility, required loan amount, type of loan, tenure of repayment and other factors. Apart from the interest rate, borrowers will also be required to pay the Personal Loan Processing Fee of 3% to 5% of the loan amount, subject to a minimum of Rs. 1,500 + GST.

Eligibility for Prefr Personal Loan

Availing of a personal loan from Prefr is easy. All salaried, as well as self-employed individuals aged above 22 years to 55 years at the time of loan closure, can apply for Prefr personal loan. The borrower must have a regular source of income to service loan repayment along with the interest component. The applicant has to provide information about their income and employment and also their bank account details for auto-debit of EMI payments.

Age : 22 to 55 years at the time of loan completion

Income : Salaried - Rs.18,000 above & for self employed Rs.20,000 above

Prefr Personal Loan Types

Prefr provides the following two types of loans for meeting your personal and professional needs:

  • Term Loans for Self-Employed: This loan is offered to self-employed individuals with flexible tenure to help them grow their businesses.
  • Personal Loan for Salaried: These loans are offered to salaried individuals for any personal requirements, including medical, home upgrade, wedding expenses, etc. The tenure for this loan ranges from 12 to 48 months.

Prefr Personal Loan Documents Required

To get a Prefr personal loan, you just need to do the following three things:

  • Click a Selfie
  • Upload your PAN Card
  • KYC Proof - Aadhaar eKYC or CKYC
  • Optional (required only in certain cases): Address proof, Bank statement & Business proof

Voila you are done.

How to Apply for Prefr Personal Loan?

Following are three easy steps to get a Prefr personal loan:

  • Provide information about your income and employment to check your loan offer in just 1 minute.
  • Click a Selfie and upload your PAN and address proof in the app.
  • Set up an auto debit on your bank account for easy EMI repayments.

Prefr Personal Loan Contact Details

In case you have any query, complaint, feedback or suggestion regarding the Prefr loan, you can contact them through Prefr credit customer care number or any of the following ways:  

Prefr loan customer care number: 040-48521334
Email: wecare@prefr.com 
Address: 2nd Floor, Block 2, My Home Hub, Hitech City, Hyderabad, Telangana - 500081.

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Prefr Personal Loan FAQs

What are the charges involved in getting a Prefr personal loan?

  • Processing fee: 3% to 5% of the loan amount, with a minimum of Rs. 1,500 + GST.
  • Foreclosure charges: 5% of principal outstanding.
  • Bounce charges: Rs. 350.
  • Additional/ Penal Interest: 3% per month (36% per annum) of overdue EMI, pro-rated for the number of days of overdue.

How much loan amount can I get from Prefr?


You can avail of a personal loan amount anywhere between Rs. 50,000 up to Rs. 5 Lakhs, depending on your eligibility and requirement.

What is the repayment tenure for a Personal Loan for Salaried?


Personal Loan for Salaried can be repaid in flexible tenure ranging from 12 to 48 months with easy EMIs.

What is the repayment tenure for Term Loans for Self-Employed?


Term Loans for Self-Employed can be repaid in flexible tenure ranging from 12 to 48 months.

What is the applicable interest rate?


Prefr personal loan interest rate varies between 15% to 36% per annum.