Faircent Personal Loan

Here are a few factors

Product Rating

( 4.4 /5 )

Total - 420 ratings

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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

Mo
Loan Amount100,000
Interest %25 %
Tenure (months)12
Emi (monthly)9,504
Total Interest14,053
Loan Amount + Interest114,053
YearTotal Principal
( A )
Total Interest
( B )
Balance
( A + B)
Total Payment Loan Paid Till Date (%)
22,7295,78328,51277,27122.73 %
Oct7,4212,0839,50492,5797.42 %
Nov7,5751,9299,50485,00415.00 %
Dec7,7331,7719,50477,27122.73 %
77,2668,27085,5365100.00 %
Jan7,8941,6109,50469,37730.62 %
Feb8,0591,4459,50461,31838.68 %
Mar8,2271,2779,50453,09146.91 %
Apr8,3981,1069,50444,69355.31 %
May8,5739319,50436,12063.88 %
Jun8,7517539,50427,36972.63 %
Jul8,9345709,50418,43581.56 %
Aug9,1203849,5049,31590.69 %
Sep9,3101949,5045100.00 %
Right Document : Easy Process

Required Documents to Apply for Faircent Personal Loan

  • KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
  • Last 3 month Salary Slip
  • Last 6 month Bank Statement in PDF
  • Form 16 of last 2 year
  • Rent Agreement if rented or Utility Bill if residence is owned
  • Sanction Letter of all current running loan if any
  • 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.

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, 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%
Leave Your Question

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.