Getting a loan approved from a bank is an ordeal that can seem to last forever. Meetings, queries, and
endless paperwork are just some of the things you have to go through to get sanctioned for a loan.
That's why Upward has brought in technology to change the way you borrow money. By using our app, you
can now get your loan at your fingertips. Our finances are designed for personal use such as home
renovation, holiday expenses, home furnishing, wedding, etc. Notably, Upward offer all individual
applicants flexible repayment terms at zero collateral. No need to visit hundreds of personal loan
websites when Upward can get the job done for you.
Upward Fintech is an RBI registered Non-Banking Financial Company that offers loans to individuals at
attractive interest rates. Their application process is simple and convenient. Upward Fintech, offer a
hassle-free loan application process. They have a low documentation process, this means Upward doesn't
ask for any physical documents from our applicants except the KYC documents. Your loan will be
processed within minutes. Before moving ahead let’s discuss some of the general details which you
should certainly know about before starting.
Along with the Cibil score and other financial histories Upward also depends on the methods of FOIR to
calculate the amount of loan you are eligible to get along with the EMI slots that you will be given
to repay. Now you must be wondering what is this FOIR thing. Let’s explain it to you better.
With so many microfinance institutions (MFIs) and non-banking finance companies (NBFCs) offering
loans to the general public in India, it has become more important than ever before for a lender
to determine whether an individual can repay a loan.
FOIR stands for Fixed Obligations to Income Ratio, which is a derivation of the ratio of a
consumer's yearly fixed obligations and his/her income. It is generally used as a parameter by
banks to find out the eligibility of an individual for a loan and also indicates how much money
that particular individual can borrow.