FatakPay Loan
The FatakPay platform simplifies access to credit for salaried and self-employed individuals. You can avail of the FatakPay loan of up to ₹5 Lakhs at an affordable interest rate starting from 12% p.a. The borrowed amount can be easily repaid within tenures of 3 to 36 months. A processing fee of 2% of the loan amount onwards is levied along with platform/ login fees of ₹200 + 36 (including GST).
FatakPay Personal Loan Details
The key details of the FatakPay personal loan are as follows:
Loan Amount | ₹30,000 to ₹5 Lakhs |
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Interest Rate | 12% to 35.95% p.a., depending on the internal credit score. |
Tenure | 3 to 36 months |
Processing Fee | Starts from 2% of the loan amount |
Features & Benefits of FatakPay Loan
The following are the main features and benefits of Fatak Pay loan:
- Instant online personal loans up to ₹5 Lakhs.
- Competitive interest rate starting at 12% per annum.
- Flexible repayment tenures from 3 to 36 months.
- Low processing fee starting from just 2% (for high credit score users).
- Quick approvals and a 100% paperless process.
- Salary advances for corporate employees so they never run out of cash.
- Buy 24K digital gold and silver securely stored with FatakPay’s partner Niwish (Digi Smart Assets Pvt Ltd).
- Protect yourself with personal accident insurance (in partnership with Shriram GI).
- Pay electricity, gas, water and other bills online.
- Save more with cashback and discounts from the merchant network.
FatakPay Personal Loan Interest Rates & Charges
Borrowing a FatakPay personal loan involves the following interest rate and charges:
Interest Rate | 12% to 35.95% p.a., depending on the internal credit score |
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Processing Fee | Starts from 2% of the loan amount |
Platform Fees or Login Fees | ₹200 + 36 (including GST, documentation, legal & insurance fees) |
Compare FatakPay App with Other Loan Apps
Below is the comparison table for the Fatak Pay personal loan with other app-based personal loans:
App | Loan Amount | Rate of Interest | Tenure |
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FatakPay | ₹30,000 to ₹5 Lakhs | 12% to 35.95% p.a. | 3 months - 3 years |
Kundan Finance | ₹5,000 - ₹2 Lakhs | 1.5% - 2.92% p.m. | 90 - 365 days |
Ram Fincorp | ₹4,000 - ₹2 Lakhs | 1.5% p.m. onwards | 3 months - 1 year |
Kamakshi Money | ₹1,000 - ₹2 Lakhs | 1.5% p.m. onwards | Up to 3 months |
PayMe | ₹500 - ₹5 Lakhs | 1.5% p.m. onwards | 3 - 24 months |
CASHe | ₹45,000 - ₹3 Lakhs | 2.79% - 3% p.m. | 9 months - 1.5 years |
mPokket | ₹500 - ₹50,000 | 0% - 4% p.m. | Up to 4 months |
FlexSalary | ₹500 - ₹3 Lakhs | 18% - 36.5% p.a. | Up to 3 years |
KreditBee | ₹1,000 - ₹5 Lakhs | 17% - 29.95% p.a. | 6 months - 60 years |
MoneyTap | ₹3,000 - ₹5 Lakhs | 13% - 18% p.a. | 3 months - 3 years |
Fatak Pay Loan Eligibility Criteria
To apply for a loan in FatakPay, you have to meet the following eligibility criteria:
- Minimum age: The applicant should be at least 21 year old when applying for the loan.
- Maximum age: The maximum age of the applicant should not be above 55 years when the loan matures.
Documents Required for FatakPay Personal Loan
Keep the following documents handy when applying for the FatakPay loan:
- KYC documents: Date of birth proof, address proof, PAN Card and Aadhar Card details, either with a DigiLocker, a photo/ Aadhar Mobile OTP verification.
- Income proof: Not required for all customers, only required for some high-value loans. Depending on the customer's credit profile, they may be asked to submit income proof by linking their bank account or through a PDF bank statement so that the statement can be fetched and verified online.
- The applicant has to upload their real-time selfie on the app for identification.
- To process digital KYC, providing only the PAN number may be sufficient.
FatakPay Loan Customer Care Details
Below are the FatakPay loan customer care contact details:
- WhatsApp/ Call/ Bot: +91 9987178747
- Email: help@fatakpay.com
- Address: Office No. - 23, 2nd Floor Der Deutsche Parkz, Subhash Nagar Road, Near Nahur (W) Station, Bhandup West, Mumbai - 400078
FAQs
Yes, FatakPay is supported and powered by RBI-registered NBFCs (Non-Banking Financial Companies), regulated by the Reserve Bank of India (RBI).
The interest rate of the FatakPay loan ranges from 12% to 35.95% p.a.
FatakPay offers a maximum loan amount of ₹5 Lakhs.
Yes, FatakPay offers instant loan approval through its app. It focuses on minimal documentation, instant processing, and quick disbursal of funds for salaried individuals.
No, there are no hidden charges in FatakPay Loans.
Yes, self-employed individuals can apply for a FatakPay Loan.