Faircent Personal Loan
Get a Faircent Personal Loan online up to Rs. 10 Lakhs at an interest rate starting from as low as 14.1% p.a. The loan can be utilised for personal as well as professional needs. A processing fee of 6% to 8% plus GST will be applicable.
Apply for a Faircent Personal Loan @ 14.1% Interest Rates
Faircent Personal Loan Details
Key details of Faircent loan are mentioned below:
| Loan amount | Rs. 30,000 - Rs. 10 Lakhs |
| Rate of interest | 14.1% - 28% p.a. onwards |
| Processing fee | 6% to 8% of the loan amount + GST |
| Tenure | 6 - 36 months |
| Prepayment charges | Nil if closed after 3 months, Rs. 500 otherwise |
| One-time filing fee | Rs. 500 |
| Penal interest | 18% p.a. |
| TAT | 24 - 48 hours |
| Minimum gross income | Rs. 2 Lakhs per annum |
Note: Faircent is powered by https://www.faircent.com/, and the information mentioned here is provided by Fairassets Technologies India Pvt Ltd.
Faircent Loan Apps
Faircent app offers personal loans from multiple lenders through its platform to help borrowers get instant loans at an affordable rate of interest. The lenders listed on Faircent are High Net-worth Individuals (HNIs), ensuring that only the genuine lenders are interacting with the borrowers. Creditworthy borrowers can expect personal loan offers from multiple lenders.
Faircent Loan Interest Rates
Faircent personal loan interest rate varies from 14.1% to 28% p.a. However, a higher interest rate can be charged from unrated borrowers. Interest rates are determined for each borrower by an automated credit appraisal system of Faircent, which uses the personal and financial data provided by borrowers in more than 120 criteria using over 400 data points to risk-assess the borrowers and understand their credit profile.
Faircent Personal Loan Features
- Loan amount: The loan amount is dependent on the borrower’s loan requirement. For personal requirements, the loan amount can vary from Rs. 10,000 to Rs. 5 Lakhs, and for business purposes, it can be up to Rs. 10 Lakhs.
- Rate of interest: Faircent personal loan interest rates range from 14.1% to 28% p.a. However, unrated borrowers can be charged a higher interest rate.
- Tenure of repayment: The loan amount can be repaid in a tenure between 6 to 36 months.
- Processing charges: The personal loan processing fee for Faircent funding can vary from 6% to 8% of the loan amount + GST, depending on the loan amount to be borrowed.
- Prepayment: You can prepay the entire loan amount without any foreclosure penalty after 3 months from the date of loan disbursal. Closing the loan before 3 months will attract a one-time non-refundable prepayment fee of Rs. 500.
Faircent Personal Loan Eligibility Criteria
The borrower must meet the following Faircent personal loan eligibility criteria:
- They should be a resident of India.
- They should have a minimum gross income of Rs. 2 Lakhs per annum.
They must provide all the required documents mentioned in the checklist to fulfill the Faircent loan eligibility.
Documents Required for Faircent Personal Loan
To get the Faircent loan apply online with the following documents:
| Recent photographs | 2 copies |
| Proof of identity | Any one of the following:
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| Proof of date of birth | Any one of the following:
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| Proof of signature | Any one of the following:
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| Proof of residence | Any one of the following:
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| Proof of contact | Any one of the following:
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| Proof of income |
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| Other documents |
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Fee & Charges of Faircent Personal Loan
| Type of charge | Quantum |
| Processing fee | 6% to 8% of the loan amount + GST |
| Prepayment charges | Rs. 500 if closed before 3 months |
| One-time filing fee | Rs. 500 |
| Penal interest for delayed payment | 18% p.a. per delayed payment |
| EMI overdue charge | Rs. 500 per delayed payment |
| Payment default charge | Rs. 500 per legal notice |
| Charges for changing EMI date or bank account details | Rs. 500 per bank account swap and/or per EMI date change |
| Charges for Faircent’s assistance in maintaining details of loan account | Rs. 100 per statement of accounts |
Faircent Customer Care Details
Below are the contact details of Faircent Finance Customer Care:
Business office address: C-091, 9th Floor, Supermart 1, DLF Phase 4, Gurgaon, Haryana, 122002
Phone numbers:
- Headquarters: 0120-4659902
- Lender/Borrower Registration: 0120-4659902
You can call the numbers mentioned above from 9:30 AM to 6 PM any day.
Grievance Officer:
Nidhi Tripathi
Email: nidhi.tripathi@faircent.com
Phone: 0120-4659902
FAQs
Yes, you can cancel a Faircent loan process by writing an email to support@faircent.com requesting for cancellation of your registration as a borrower. However, loan cancellation can only be done prior to disbursal of funds.
Faircent.com has received its NBFC (non-banking financial company) Peer-to-Peer (P2P) certification from the Reserve Bank of India (RBI).
Faircent personal loan interest rates range from 14.1% to 28% p.a. However, unrated borrowers can be charged a higher interest rate.
You can repay your Faircent loan online through the e/NACH mandate, which is an Auto-Debit facility. If the e/NACH mandate has not been cleared by the due date first EMI, the same is payable by cheque. Each month, the EMI amount is collected directly via auto-debit from the borrower’s salary account.
Yes, the Faircent loan app checks the CIBIL score of the borrower.