Prefr Loan

The following are the key highlights of the Prefr personal loan:

Below are the attractive features of Prefr personal loans:

• Get an instant loan of Rs. 50,000 to Rs. 5,00,000 online through the Prefr loan app for all your personal and professional needs.
• Prefr loan offers competitive interest rates starting from 18.00% per annum and a nominal processing fee of 3% to 5% of the loan amount.
• No security or collateral is required to avail of a loan from Prefr.
• Prefr app also offers term loans for self-employed individuals to help them grow their businesses.
• You don’t need a CIBIL score to get a loan as Prefr uses the borrower’s banking data to generate their offer. 
• Get instant loan approval once you provide all the necessary details.
• Money will be disbursed to your bank account within 10 minutes.
• You can use the Prefr loan EMI calculator to calculate your personal loan EMI online in a jiffy.

Prefr loan interest rates are affordable and fixed between 18.00% p.a., depending on the applicant’s eligibility, required loan amount, loan type, repayment tenure, and other factors. Apart from the interest rate, borrowers will also have to pay a processing fee of 3% to 5% of the sanctioned loan limit.

The following are the charges associated with a Prefr personal loan:

• Processing fee: 3% to 5% of the loan amount.
• Foreclosure charges: 5% of the principal outstanding. If the loan is closed within 6 months post disbursement, then interest on the loan amount for 6 months + foreclosure charges will apply. 
• Penal charges: 3% per month on overdue amount (accrued on a daily basis).
• Bounce charges: Rs. 350.
• Pre-EMI: As applicable.

Below are the basic Prefr loan eligibility criteria for a personal loan:

• Prefr personal loans can be availed of by all salaried as well as self-employed individuals aged above 18 years and earning a monthly salary of at least Rs. 18,000.
• The borrower must have a regular income source to service loan repayment along with the interest.
• The applicant must provide accurate information about their income, employment also their bank account details for auto-debit of EMI payments.

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

If you need a Prefr loan apply by following the steps given below:

• Download the Prefr app
• Complete the Prefr loan login process
• Click a Selfie
• Upload your PAN Card
• Upload your Address Proof document

The following are the Prefr customer care details:

• Call at Prefr loan customer care number: 040 4852 1334 from 10 AM to 7 PM, every day except holidays and weekends
• Email: wecare@prefr.com for any customer support
• Visit or write to: 2nd Floor, Block 2, My Home Hub, Hitech City Rd, Patrika Nagar, HITEC City, Hyderabad, Telangana - 500081
• Grievance escalation: If you are not satisfied with the resolution provided by the lender, you can escalate your issue to the next level of authority.