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Faircent Business Loan

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How To Apply
Product Rating

( 4.6 /5 )

Total - 399 ratings

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Location

PAN India

Loan Amount

Rs. 25,000 to 10 Lakhs

ROI

12% - 30%

Processing Fees

4% to 9%

Tenure

3 to 36 months

EMI date

1,5,10 of every month

Foreclosure Charges

After 3 months ( Rs. 500 charges + principal)

Part Payment Allowance

Yes

Insurance Requirement

Not Required

USP

Covering all cities and type of companies

References

At least four references required

Credit History

Min. 1 year - for salaried individuals

Faircent Business Loan EMI Calculator

Interest Type

Loan Amount

₹

Interest Rate

%

Loan Tenure

Mo
Loan Amount₹100,000
Interest %12 %
Tenure (months)12
Emi (monthly)₹ 8,885
Total Interest₹ 6,619
Loan Amount + Interest₹ 106,619
YearTotal Principal
( A )		Total Interest
( B )		Balance
( A + B)		Total Payment Loan Paid Till Date (%)
₹ 56,878₹ 5,317₹ 62,195₹ 43,12256.88 %
Jun₹ 7,885₹ 1,000₹ 8,885₹ 92,1157.89 %
Jul₹ 7,964₹ 921₹ 8,885₹ 84,15115.85 %
Aug₹ 8,043₹ 842₹ 8,885₹ 76,10823.89 %
Sep₹ 8,124₹ 761₹ 8,885₹ 67,98432.02 %
Oct₹ 8,205₹ 680₹ 8,885₹ 59,77940.22 %
Nov₹ 8,287₹ 598₹ 8,885₹ 51,49248.51 %
Dec₹ 8,370₹ 515₹ 8,885₹ 43,12256.88 %
₹ 43,123₹ 1,302₹ 44,425₹ 0100.00 %
Jan₹ 8,454₹ 431₹ 8,885₹ 34,66865.33 %
Feb₹ 8,538₹ 347₹ 8,885₹ 26,13073.87 %
Mar₹ 8,624₹ 261₹ 8,885₹ 17,50682.49 %
Apr₹ 8,710₹ 175₹ 8,885₹ 8,79691.20 %
May₹ 8,797₹ 88₹ 8,885₹ 0100.00 %
Work Process

Save Your Time with a Simple Loan Process

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Features of Faircent Business loan

Lowest Interest Rates

No Bank Mediation

Get to Choose the Rate that Suits You

Get Funded Faster

Documents and Eligibility Required for Faircent Business Loan

Let’s look into the eligibilities and required Documentation to make your application process even smoother:

Eligibility

  • The age of the borrower should be between 23 to 58 years
  • Minimum ITR of the applicant should be 3 Lacs
  • Business Vintage should be of min 2 years
  • Minimum 6 month of residency on the current property.
  • Credit score should be more than 500
  • Minimum 3 years of credit history is required
  • All types of companies ( PRO, Partner, PVT. LLP) are eligible

Documentation

  • KYC documents
  • Last 2 years of ITR
  • Bank statement of last 6 months
  • Business registration must be at least 2 years old
  • Office address proof
  • Ownership proof required after Rs. 5 Lacs & above
Apply for Loan

About Faircent Business Loan

Are you thinking about getting a business loan? You're not alone. Most entrepreneurs at some point question whether or not it's time to take out a business loan and invest in their company's future. It's one of the best ways to expand your business, provide additional working capital, or fund other important business expenses. If you are a business owner and have been looking for expanded markets and better business growth, then you need easy access to funds. At Faircent we provide an improved platform to meet your business needs. Faircent has launched its business loan scheme, giving you an opportunity to benefit from the lowest interest rate, quick and hassle-free loan process, and flexible repayment options.

Let us take an example, How EMI is being calculated

For instance, if "Shubham" applies for a Faircent Business Loan of INR 1 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 36 Months , in such a case his EMI would be INR 3,467 and complete repayment amount till the end of 36 Months tenure would be INR 1,24,795 (i.e 3,467 EMI * 36 Months), wherein the total interest amount is INR 24,795 along with principal repayment of INR ₹1,24,795 . Few additional charges like those of minimal one-time processing fee 4%-9% of the disbursed amount + GST of loan amount may apply. T&C apply.
Year Principal
(A) 		Interest
(B) 		Total Payment
(A + B) 		Balance Loan Paid To Date
2022 ₹ 11,363 ₹ 5,969 ₹ 17,333 ₹ 88,637 11.36%
Aug ₹ 2,217 ₹ 1,250 ₹ 3,467 ₹ 97,783 2.22%
Sep ₹ 2,244 ₹ 1,222 ₹ 3,467 ₹ 95,539 4.46%
Oct ₹ 2,272 ₹ 1,194 ₹ 3,467 ₹ 93,267 6.73%
Nov ₹ 2,301 ₹ 1,166 ₹ 3,467 ₹ 90,966 9.03%
Dec ₹ 2,329 ₹ 1,137 ₹ 3,467 ₹ 88,637 11.36%
2023 ₹ 30,332 ₹ 11,266 ₹ 41,598 ₹ 58,305 41.70%
Jan ₹ 2,359 ₹ 1,108 ₹ 3,467 ₹ 86,278 13.72%
Feb ₹ 2,388 ₹ 1,078 ₹ 3,467 ₹ 83,890 16.11%
Mar ₹ 2,418 ₹ 1,049 ₹ 3,467 ₹ 81,472 18.53%
Apr ₹ 2,448 ₹ 1,018 ₹ 3,467 ₹ 79,024 20.98%
May ₹ 2,479 ₹ 988 ₹ 3,467 ₹ 76,545 23.45%
Jun ₹ 2,510 ₹ 957 ₹ 3,467 ₹ 74,036 25.96%
Jul ₹ 2,541 ₹ 925 ₹ 3,467 ₹ 71,495 28.51%
Aug ₹ 2,573 ₹ 894 ₹ 3,467 ₹ 68,922 31.08%
Sep ₹ 2,605 ₹ 862 ₹ 3,467 ₹ 66,317 33.68%
Oct ₹ 2,638 ₹ 829 ₹ 3,467 ₹ 63,679 36.32%
Nov ₹ 2,671 ₹ 796 ₹ 3,467 ₹ 61,009 38.99%
Dec ₹ 2,704 ₹ 763 ₹ 3,467 ₹ 58,305 41.70%
2024 ₹ 35,208 ₹ 6,390 ₹ 41,598 ₹ 23,097 76.90%
Jan ₹ 2,738 ₹ 729 ₹ 3,467 ₹ 55,567 44.43%
Feb ₹ 2,772 ₹ 695 ₹ 3,467 ₹ 52,795 47.20%
Mar ₹ 2,807 ₹ 660 ₹ 3,467 ₹ 49,988 50.01%
Apr ₹ 2,842 ₹ 625 ₹ 3,467 ₹ 47,147 52.85%
May ₹ 2,877 ₹ 589 ₹ 3,467 ₹ 44,270 55.73%
Jun ₹ 2,913 ₹ 553 ₹ 3,467 ₹ 41,356 58.64%
Jul ₹ 2,950 ₹ 517 ₹ 3,467 ₹ 38,407 61.59%
Aug ₹ 2,986 ₹ 480 ₹ 3,467 ₹ 35,420 64.58%
Sep ₹ 3,024 ₹ 443 ₹ 3,467 ₹ 32,397 67.60%
Oct ₹ 3,062 ₹ 405 ₹ 3,467 ₹ 29,335 70.67%
Nov ₹ 3,100 ₹ 367 ₹ 3,467 ₹ 26,235 73.76%
Dec ₹ 3,139 ₹ 328 ₹ 3,467 ₹ 23,097 76.90%
2025 ₹ 23,097 ₹ 1,169 ₹ 24,266 ₹ 0 100.00%
Jan ₹ 3,178 ₹ 289 ₹ 3,467 ₹ 19,919 80.08%
Feb ₹ 3,218 ₹ 249 ₹ 3,467 ₹ 16,701 83.30%
Mar ₹ 3,258 ₹ 209 ₹ 3,467 ₹ 13,443 86.56%
Apr ₹ 3,298 ₹ 168 ₹ 3,467 ₹ 10,145 89.86%
May ₹ 3,340 ₹ 127 ₹ 3,467 ₹ 6,805 93.19%
Jun ₹ 3,381 ₹ 85 ₹ 3,467 ₹ 3,424 96.58%
Jul ₹ 3,424 ₹ 43 ₹ 3,467 ₹ 0 100.00%
Leave Your Question

FREQUENTLY ASKED QUESTIONS

No, the minimum business registration period to apply must be 2 years old

You can avail of up to Rs. 10 Lakhs for a business loan.

Yes, to ensure the identity of the borrower, Faircent will carry a physical verification at the resident's as well as the office address.

No, there won’t be any Bank Mediation as it is a Peer-to-peer lending platform. 

After 3 months ( Rs. 500 charges + principal) of foreclosure charge is applicable on the faricent business loan.

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