Faircent Personal Loan


Faircent personal loans provide financial assistance to individuals seeking unsecured loans. They offer personal loans with interest rates ranging from 12% to 28% per annum. With loan amounts ranging from ₹30,000 to ₹7 lakhs and a loan tenure up to 3 years, Faircent personal loan is a convenient and straightforward financial solution for borrowers.

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Faircent Personal Loan Details

Opting for a Faircent personal loan is an excellent option for those seeking a personal loan with competitive interest rates, swift loan approval and fast disbursal. Here are some of the details a borrower should know to apply for a of Faircent loan:

Interest rate Starts at 12% per annum
Loan amount Rs. 30,000 to Rs. 7.5 lakhs
Processing fee Ranges from 6% to 8%
Tenure Up to 3 years

Table of Contents:

Faircent Personal Loan Interest Rates

Faircent offers a wide range of personal loan products with competitive and customized interest rates. Competitive interest rates can significantly reduce the cost of borrowing, resulting in lower monthly repayments and overall loan expenses.

Faircent personal loan is designed to meet your financial needs and allows you to conveniently and quickly access the funds. A lower interest rate, reduces the payable loan amount, enabling borrowers to manage their finances more effectively, meet their financial goals, and achieve greater financial stability while minimizing the burden of debt.

Faircent Personal Loan Interest rate 12% - 28% per annum

Faircent Personal Loan Fees & Charges

Understanding Faircent personal loan fees is crucial for informed financial planning. These fees directly influence the total cost of your loan and can significantly impact your repayment strategy. Being aware of these charges empowers you to make sound financial decisions.

The table below lists the applicable fees and charges associated with a Faircent personal loan:

Processing fee Ranges from 6% to 8%
Prepayment Charges Non-refundable prepayment fees of Rs. 500

Faircent Personal Loan Eligibility Criteria

Faircent personal loan eligibility criteria have been meticulously crafted to guarantee that you can access a loan that perfectly matches your financial capacity. Benefit from a borrowing solution that is not only affordable but also well-suited to your specific financial circumstances and needs.

Refer to the table below to know the eligibility requirements for a Faircent personal loan:

Age 18- 65 Years old
Income Minimum ₹2 lakhs per annum
Citizenship Indian

Documents Required For Faircent Personal Loan

Below are some of the necessary documents a borrower should have when applying for a Faircent personal loan:

Identity Proof PAN Card, Adhaar Card, Voter ID, Passport
Address Proof Bank Statement, Voter ID, Electricity Bill (within last 3 months)
Income Proof Salary slips of last 3 months, ITR of last 2 years, take home salary
Contact Proof Last month’s Postpaid Mobile/Landline Bill
Other Documents Canceled/scanned cheque, copy of the passbook’s front page

Faircent Personal Loan EMI Calculation

Plan your loan repayments effortlessly with Buddy Loan's user-friendly personal loan EMI calculator. To get prompt and precise results, calculate your Equated Monthly Installment (EMI) for a Faircent personal loan by entering the loan amount, interest rate, and tenure.

Opt for a Faircent personal loan, your EMI remains constant throughout the entire loan period, regardless of any fluctuations in interest rates. This offers you stability and control over your finances, providing clear visibility and helping you efficiently manage your budget.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Comparison of Faircent Personal Loan Vs Other NBFCs

When considering personal loans, choosing the right loan option can have a substantial impact on your financial stability. We will evaluate Faircent Personal Loan alongside other prominent Non-Banking Financial Companies (NBFCs), providing you with valuable insights to make a well-informed choice that aligns with your financial goals and needs.

The table below highlights the comparative study of interest rates among Faircent loans and other NBFCs:

NBFCs INTEREST RATE (p.a.)
Faircent 12% to 28% per annum
Dhani 13.99% per annum
Nira 24% to 36% p.a
mPokket 2% - 4% per month
Paysense 16.8% - 27.6%

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Features & Benefits of Faircent Personal Loan

Faircent Personal Loan is a flexible loan option for individuals looking for quick and convenient access to funds. Here are some of the features and benefits of Faircent Personal Loan:

Fast and Easy Application
Process

You can apply online and
get approval within 24 hours.

Flexible Loan Amount

You can borrow a loan
amount of Rs. 30,000 to
Rs. 7lakhs.

Flexible Loan Tenure

The tenure can be
anywhere between
6 and 36 months.

Competitive Interest Rates

Faircent offers low
interest rates of 12% to 28%
per annum.

No Hidden
Charges

There are no hidden
charges or fees.

Zero Colleteral

You don't need to pledge
any colleteral to avail
this loan.

Types of Faircent Personal Loans

Here are the types of Faircent personal loan options for you to consider:

9.99% Personal Loan

Purpose: A 9.99% p.a. Personal Loan from Faircent is a good option for borrowers looking for a low-interest personal loan.

  • The interest rate starts at 9.99% p.a.
  • You can borrow a loan amount up to ₹2 lakhs.
  • You can choose to repay the loan for 12 to 60 months.

Faircent Personal Loan for Marriage

Faircent offers Personal Loans for Marriage specifically designed to help borrowers finance their weddings.

  • The interest rate starts at 12% p.a.
  • You can borrow a loan amount up to ₹10 lakhs.
  • You can choose to repay the loan for 3 years.

Faircent Personal Loan for Debt Consolidation

The Faircent Personal Loan for Debt Consolidation is a loan that can be used to repay existing debts, such as credit card debt, personal loans, and medical bills.

  • The interest rate starts at 12% p.a.
  • You can borrow a loan amount up to ₹10 lakhs.
  • You can choose to repay the loan for 3 years.

Faircent Personal Loan for Home Improvement

Faircent offers Personal Loans for Home Improvement to finance home improvement projects, such as kitchen renovations, bathroom renovations, and home extensions.

  • The interest rate starts at 12% p.a.
  • You can borrow a loan amount up to ₹10 lakhs.
  • You can choose to repay the loan for 3 years.

Faircent Personal Loan for Home Appliances

The Faircent Personal Loan for Home Appliances is a loan that can be used to finance the purchase of new home appliances, such as refrigerators, washing machines, and air conditioners.

  • The interest rate starts at 12% p.a.
  • You can borrow a loan amount up to ₹10 lakhs.
  • You can choose to repay the loan for 3 years.

How Do You Apply for Faircent Loans with Buddy Loan?

Steps To Apply For a Personal Loan with Buddy Loan

  • Step 1: Visit buddyloan.com or Download the Buddy Loan app (Android or iOS).
  • Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option.
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Ready to take the next step? Apply for a Business loan now!

Frequently Asked Question

Register on Faircent and provide your details. Create a loan listing and share information about your loan amount, interest rate, repayment period, and other details.

Faircent does not have a minimum salary requirement for borrowers. However, borrowers must have a minimum gross income of INR 3 lakhs annually. The borrower's total income must be at least INR 3 lacs per year.

The maximum loan amount in Faircent depends on the purpose of the loan. For personal loans, the maximum loan amount is from Rs. 7.5 lakhs. For business loans, the maximum loan amount is INR 10 lakh.

Faircent is a P2P lending platform that connects borrowers with lenders. Borrowers can list their loan requirements on Faircent, and lenders can invest in these loans. Faircent charges a fee to both borrowers and lenders.

The locking period protects borrowers from lenders who might withdraw their investment early, which could disrupt the borrower's repayment schedule. After the 12-month locking period, lenders can withdraw their investment at any time.

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Please read the Terms & Conditions carefully as deemed & proceed at your own discretion.

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