Apply Online for FairCent Personal Loan
Apply online for an FairCent and experience quick, hassle-free approval with minimal documentation. FairCent is designed to meet your financial needs, whether for home renovation, medical expenses, travel, or debt consolidation.
- Interest Rate 9.99% onwards
- Maximum Loan ₹ 10 lacs
- Processing Fees 8%
- Maximum Loan Tenure 6 months to 3 years
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 500+
Team Size of Experts
Eligibility Criteria for Faircent Personal Loan
The following requirements for Faircent personal loan eligibility must be met by the borrower:
- They should be an Indian citizen.
- They should make a minimum of ₹ 2 lacs per year in gross income.
To be eligible for a Faircent loan, they must present all the supporting documentation listed on the checklist.
Documents Required for Faircent Personal Loan
The following is a list of the documentation for personal loans needed to apply for Faircent Loans:
Identity Proof (anyone): PAN Card, Adhaar Card, Voter ID, Passport
PAN Card or Passport as Birth Date Identification
PAN Card, bank signature verification, or another type of proof of signature Passport
Passport, bank statement, voter ID, recent electric bill, postpaid phone bill are all acceptable forms of address verification.
Last month's Postpaid Mobile/Landline Bill as Proof of Contact
the most recent six-month bank statement
canceled/scanned checks and copies of the front page of passbooks for the same bank account are accepted as proof of payment.
Income documentation can be provided by recent pay stubs for salaried professionals or by business/ITR records from the previous two years and take-home pay for business professionals.
NACH Mandate (signatures on the borrower's bank account and loan application must be the same)
(Necessary if the lender approves the loan request) E-Mandate
Note: Depending on the applicant's profile, Faircent may request that loan applicants submit extra personal loan documentation.
Fees and Charges of Faircent Personal Loan
| Loan Amount | Up to ₹ 5 lacs for personal use Up to ₹ 10 lacs for business use |
| Interest Rate | 9.99% – 12% |
| Repayment Tenure | 6 – 36 months |
| Platform Registration Fee | ₹ 500 (non-refundable) |
| Loan Processing Fee | 6% – 8% of loan amount |
| EMI Non-Payment Penal Interest | 18% per annum for every instance |
| EMI Overdue Charges | ₹ 500 for every missed payment |
| Pre-closure Charges | ₹ 500 (allowed only after 3 EMI payments) |
Faircent Personal Loan Overview
For loan terms of up to three years, Fairassets Technologies Pvt. Ltd., doing business as Faircent, offers personal loans with interest rates starting at 9.99% per year. A P2P lending platform registered with the RBI as an NBFC-P2P, Faircent provides loans for various purposes, including business ventures, debt consolidation, home improvements, marriage, and household appliance purchases. Loans are processed online and can be disbursed within two days. Multiple lenders may fund a borrower's personal loan through the platform.
Features of Faircent Personal Loan
- The loan size depends on the borrower’s requirement. Personal loans range from ₹ 10,000 to ₹ 5 lacs, while business loans can go up to ₹ 10 lacs.
- Interest rates for Faircent personal loans range between 12% and 28% annually, with higher rates for unrated borrowers.
- Loan repayment terms range from 6 to 36 months.
- The processing fee for personal loans funded by Faircent ranges from 6% to 8% of the loan amount plus GST.
- Prepayment of the loan after three months incurs no foreclosure penalty. However, a non-refundable ₹ 500 prepayment fee applies if paid before the three-month period.
Frequently Asked Questions (FAQ)
- How much money can I borrow in total from Faircent?
Ans: For personal reasons, loan amounts range from ₹ 10,000 to ₹ 50,000. For business purposes, the maximum amount is ₹ 10 lacs.
- Will I receive funding from one lender or several?
Ans: Funding will come from multiple lenders, as no individual lender can cover the entire loan amount.
- Will Faircent perform a physical verification of my information?
Ans: Yes, Faircent will conduct a physical verification at both your residence and office after scheduling an appointment.
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 500+
Team Size of Experts
FairCent Personal Loan EMI Calculator
Amount
Tenure
% Interest
Principal
Interest
Total Payable
