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Faircent Personal Loan
At Faircent, they act as a catalyst between borrowers and lenders and allow both of them to interact directly with each other.
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Faircent Personal Loan
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Faircent Personal LoanHere are a few factors
| Location | PAN INDIA |
| CIBIL Score | 625+ |
| Minimum Salary Per Month | 25001+ |
| Salary Mode | NEFT,RTGS,COMPANY TRANSFER |
| Applicant Age | 22 Year to 57 Year |
| Loan Amount & Tenure | 50000
to 10 Lac (3 Month to 36 Month) |
| Rate of Interest (Type) | 25% to 30% (Reducing) |
| Processing Fees | 6% - 8% |
| Processing Mode & TAT | Processing:
Online TAT: 1 Day to 7 Days |
| Foreclosure Charges | Yes, After 3 month With charge |
| Part Payment Allowed | After 3 month NIL Charge |
| OD Product | No |
| BT+TopUp | No |
| Minimum Job Experience | 3 month |
| Employer Business Vintage | 3 Month Salary credit in ac |
| FOIR | 80% of Foir |
| Whether Co-Applicant Mandatory | No |
| USP | Funding to All Employee if they have CIBIL Score |
| Negative Profile | 1.
NRI Employee 2. Cash Salary, IMPS Salary & UPI Salary 3. Minus 1 CIBIL Score Applicant |
Faircent Personal Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 25 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,504 |
| Total Interest | ₹ 14,053 |
| Loan Amount + Interest | ₹ 114,053 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 22,729 | ₹ 5,783 | ₹ 28,512 | ₹ 77,271 | 22.73 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 77,266 | ₹ 8,270 | ₹ 85,536 | ₹ 5 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Faircent Personal Loan
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KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
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Last 3 month Salary Slip
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Last 6 month Bank Statement in PDF
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Form 16 of last 2 year
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Rent Agreement if rented or Utility Bill if residence is owned
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Sanction Letter of all current running loan if any
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Office ID Card or Official EMAIL ID if any
About Faircent Personal Loan
Faircent is India's first peer-to-peer lending platform to receive a Certificate of Registration (CoR) as an NBFC-P2P from the Reserve Bank of India (RBI). Faircent’s goal is simple -- to provide an easy and transparent way to borrow or lend money without having to deal with banks, who have become such a difficult chain in today’s time that they dictate all terms and conditions for borrowers and lenders. At Faircent, we try to be a catalyst between borrowers and lenders and allow both of them to interact directly with each other. The overall process usually takes only a few days, so that the borrower can get his/her desired loan amount in record time.
Faircent Customer Care
Start with Faircent Personal Loan in few steps
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
Let us take an example, How EMI is being calculated
For instance, if "Shubham" applies for a Personal 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 upto 2-3% 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% |
FREQUENTLY ASKED QUESTIONS
Yes, the faircent organization will charge you a fee of Rs. 500.
Yes, to ensure the borrower's identity, Faircent will carry a physical verification at the resident and office address.
No, there is no way you can change a faircent personal loan amount after applying for the loan. At the same time, you can place a new loan request with an increased loan amount.
No, faircent doesn't have any such policies yet.
No, there won't be any bank mediation at faircent as it is a Peer-to-peer lending platform.
The minimum ROI of Faircent Personal Loan is 12% per annum
The minimum ROI of Faircent Personal Loan is 30 % per annum
The highest loan amount you can avail with Faircent Personal Loan is Rs. 10 Lacs
The minimum loan amount you can avail of with Faircent Personal Loan is Rs. 50,000
The processing fee for Faircent ’s Personal loan is between 6% to 8% of your loan amount.
The minimum repayment tenure of Faircent 's Personal Loan is 3 months.
The maximum repayment tenure of Faircent's Personal loan is 36 months
Yes, you can apply for a Faircent Personal Loan anywhere from India as it holds a PAN India access
The minimum required salary to apply for a Faircent Personal Loan is 25K in Metro Cities and 22K in non-metro cities.
To apply for Faircent Personal Loan your Minimum CIBIL score must be 625
No, to apply for Faircent Personal Loan your Minimum CIBIL score must be 625
Yes, to apply for Faircent Personal Loan your Minimum CIBIL score must be 625
You can go to the official website of Faircent or you can also switch to ReferLoan for an easy and smooth loan application process.
No, Faircent doesn’t accept minus CIBIL scores for Personal loans.
The minimum required age to apply for a Faircent Personal Loan is 23
The maximum required age to apply for a Faircent Personal Loan is 58
No, Faircent doesn’t offer funding to the Proprietorship Firm Employees
No, Faircent doesn’t offer funding to the Partnership Firm Employees too
If you are planning to apply for a Faircent Personal Loan, your minimum employment period must be 3 months.
The minimum vintage of the applicant’s employer must be 3 months to apply for a Faircent Personal Loan
No, it is not mandatory to provide a Co-applicant to apply for a Faircent Personal Loan
No, Faircent doesn’t fund NRIs for Personal Loans.
No, as the defense frontline jobs are considered as a negative profile in Faircent 's Personal Loan.
No, employees of D grade occupation are considered as a negative profile in Faircent ’s Personal Loan.
No, the profile of the Police is considered as a negative profile in Faircent ’s Personal Loan.
No, the profile of Advocate is considered a negative profile in Faircent ’s Personal Loan.
Yes, partial payment of Faircent Personal Loan is allowed after 3 months of multiple part payment.
No, there are no Partial Payment charges on Faircent Personal Loan.
The foreclosure interest on Faircent 's Personal loan is Rs. 500+GST
Yes, MCD employees are applicable to apply for the Faircent Personal Loan
Yes, You can apply for a Faircent Personal Loan if you receive your salary through NEFT
Yes, You can apply for a Faircent Personal Loan if you receive your salary through RTGS
Yes, You can apply for a Faircent Personal Loan if you receive your salary through Company Transfer.
No, you can’t apply for a Faircent Personal Loan if you are receiving our salary in cash.
No, you can’t apply for a Faircent Personal Loan if you are receiving our salary through UPI.
Faircent takes 7 days for the disbursement of a personal loan
Faircent takes 1 day for the confirmation of a personal loan
Yes, you can apply for a Faircent Personal Loan online
The customer care number of Faircent is 8010052020
Yes, you can easily apply for a Faircent Personal Loan online.
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