F1 Speed Loan
F1 Speed Loan is India's fastest digital lending platform, offering personal loans up to ₹1 Lakh. Your loan is approved at Formula 1 speed with transparent terms and instant disbursal. The loan involves an Annual Percentage Rate (APR) of 15% to 35% and a tenure of 61 to 365 days. Apart from a monthly interest rate of 1.25% to 2.92%, a processing fee of 10% of the loan amount + GST is levied. There are no charges on prepayment or pre-closure of the loan.
F1 Speed Loan Personal Loan Details
The following are the important details of the F1 Speed Loan:
| Loan Amount | ₹5,000 to ₹1,00,000 |
|---|---|
| Interest Rate | 1.25% - 2.92% per month |
| Repayment Tenure | 61 to 365 days |
| Processing Fee | 10% of loan amount + GST |
Features & Benefits of F1 Speed Loan
The key features and benefits of the Fundo Baba Loan are listed below:
- Loan amount ranges from ₹5,000 to ₹1 Lakh.
- The minimum repayment period is 61 days, and the maximum is 365 days.
- Zero prepayment and foreclosure charges involved.
- Loan amount can be used for travel, education, medical emergencies, weddings, gadget purchase, home renovation, etc.
- Loans are offered through RBI-regulated financial partners.
F1 Speed Loan Interest Rates & Charges
F1 Speed Loan interest rates, fees, and charges are listed below:
- Monthly Interest Rate: 1.25% to 2.92% (or up to 1% per day in certain promotional/ short-term setups), varying based on eligibility and credit assessment.
- Annual Percentage Rate (APR): 15% to 35% p.a.
- Processing Fee: 10% of the loan amount + 18 GST.
- Part-Prepayment Charges: Nil.
- Foreclosure Charges: Nil
Compare F1 Speed Loan App with Other Loan Apps
Below is the comparison table for the F1 Speed Loan app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| F1 Speed Loan | 1.25% - 2.92% p.m. | ₹5,000 - ₹1 Lakh | 61 - 365 days |
| FundoBaba | 15% - 35% APR | ₹5,000 - ₹1 Lakh | 61 - 365 days |
| Paisa Daily | 1.00% per day | ₹1,000 - ₹50,000 | 30 days |
| Snap Paisa | 1.25% - 2.92% p.m. | ₹5,000 - ₹1 Lakh | 61 to 365 Days |
| Salary Adda | 0.9% p.m. onwards | ₹10,000 - ₹1 Lakh | 91 to 365 Days |
| Jet Fund | Up to 3% p.m. | ₹5,000 - ₹1 Lakh | 91 to 365 Days |
| Dhan Pocket | 0.50% per day onwards | ₹5,000 - ₹1 Lakh | 7 Days to 3 Months |
| CreditSea | 14.00% p.a. onwards | ₹10,000 - ₹2 Lakhs | 3 to 36 Months |
| SalaryOnTime | 0.25% per day onwards | ₹10,000 - ₹1,20,000 | Up to 12 Months |
| Zype | 18.00% p.a. onwards | ₹3,000 - ₹5 Lakhs | 6 to 36 Months |
F1 Speed Loan Eligibility Criteria
Below are the eligibility criteria for the F1 Speed Loan:
- Profile: Salaried.
- Minimum Salary: ₹40,000 per month or more.
- Nationality: Indian resident.
Documents Required for F1 Speed Loan
The following documents are required to apply for an F1 Speed Loan:
- PAN Card
- Aadhaar Card
- Bank Account Details
- Mobile Number
Steps to Apply for F1 Speed Loan Online
Follow these steps to apply for a F1 Speed Loan online:
- Visit the F1 Speed Loan website or mobile app and fill out a short online form with your basic personal and financial details in about 2 minutes.
- Upload the required KYC documents (such as PAN, Aadhaar, and contact details).
- Complete digital income verification.
- Check the loan details, terms, and fee breakdown.
- Once approved, we disburse the funds directly to your bank account.
F1 Speed Loan Customer Care Details
For any loan-related help, contact F1 Speed Loan using the details below.
- Customer Care Number: +91 98180 55683
- Existing Customer Email: support@f1speedloan.com
- General Enquiries Email: info@f1speedloan.com
- Grievance Officer: Mr. Kurendar Kumar – +91 96677 70194
- Support Hours: Monday to Saturday, 9:00 AM to 5:30 PM
FAQs
Yes, F1 Speed Loan is a genuine digital lending platform in India.
With F1 Speed Loan, you can get anywhere between ₹5,000 and ₹1,00,000, depending on your eligibility.
F1 Speed Loan is listed in the RBI’s public directory of Digital Lending Apps, and its underlying lending partner is an RBI-registered NBFC (Non-Banking Financial Company).
The interest rate of F1 Speed Loan ranges from 1.25% to 2.92% per month (or up to 1% per day in certain promotional/ short-term setups), based on eligibility and credit assessment.
No. You must present income proof to get an F1 Speed Loan.
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.