Finnable Personal Loan

The following are the key details of Finnable personal loan:

Note: Finnable Credit Pvt Ltd is powered by https://www.finnable.com/, and the information mentioned here is provided by Finnable Credit Pvt Ltd.

The main features of Finnable personal loans are as follows:

• Loan amounts: Ranges from Rs. 25,000 to Rs. 10,00,000. The maximum loan amount eligibility is determined by using one of two methods, i.e. the multiplier technique or the fixed obligation-to-income ratio. 
• Interest rates: Varies between 16.00% to 35.99% p.a.. Interest is charged on the reducing balance method.
• Repayment tenure: 6 months to 60 months.
• Ease of application: 100% digital application through the Finnable loan app with no physical documentation requirement. You can apply from anywhere, anytime.
• Flexible EMIs: Choose the amount you can afford.
• No hidden fees: Transparency in charges.
• Minimal documentation: Submit only a few basic documents to get the loan approved and transferred to your account as quickly as 24 hours.
• CIBIL score: Finnable requires borrowers to have a general minimum CIBIL score of 675 for higher amounts. However, it also offers instant online loans to first-time borrowers who do not have a CIBIL record yet.

Below is a comparison of the Finnable loan app with the 5 instant loan apps:

Finnable offers instant personal loans up to ₹10 Lakhs for salaried individuals. The interest rates, processing fees, and associated charges depend on your credit profile, monthly income, and loan tenure.

The following are the eligibility criteria required to be met for a Finnable finance personal loan:

• Age: For a salaried applicant, the age limit should be 21 to 60 years.
• The applicant should be a resident of India.
• The applicant should be employed full-time in the private or public sector. 
• The applicant should have a total work experience of minimum 6 months with more than 3 months in their current organisation.
• The applicant should have a salary of more than Rs. 20,000 per month if living in Tier-1 cities and Rs. 15,000 per month if living in Tier-2 cities.
• The applicant should have a salary account in any authorised bank.
• CIBIL score: A general minimum CIBIL score of 675 is required for higher amounts is 675. However, Finnable also offers instant loans online to first-time borrowers without a CIBIL record yet.

*The personal loan eligibility given above is illustrative. The eligibility criteria may vary from one customer to another at the sole discretion of the Finnable management.

To avail of a personal loan from Finnable, you require minimal documentation as mentioned below:

• Identity proof: Such as a copy of Voter ID Card, Driving Licence, Passport, PAN Card or Aadhaar Card.
• Income proof: 3 months’ Pay Slip and Bank Statement showing salary deposits or Bank Passbook for the previous 6 months, most recent Form 16, and a current-dated Salary Certificate.
• Address proof: Such as a copy of Passport, Voter ID, Driving Licence, or Aadhaar Card.

You can apply for a Finnable personal loan in the following 4 easy steps:

• Download and install the Finnable app on your smartphone.
• Sign up and check your personal loan eligibility.
• Choose your loan amount and tenure.
• Complete your KYC and set up auto-debit to receive funds within a few hours.

Finnable does not have a Finnable loan customer care number yet. However, if you have any queries or concerns, you can write an email to your personal loan assistant at makeiteasy@finnable.com for any support.