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    Rate of Interest: 15% - can vary based on the profile of the customer

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    Processing Fee: 2% to 3%

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    Tenure: Starting from 6 months to a maximum of 3 years

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We Rize is a digital lender that provides easy access to customized unsecured personal loans to salaried employees, without pledging any collateral. Our personalized approach enables us to serve your needs better and at much lower interest rates than traditional banks and NBFCs. We Rize is the fintech company that makes the unsecured personal loan process easy and affordable while giving you complete control over how you spend your money. With We Rize, we tailor a financing solution that meets your needs — whether you need to pay off credit card debt or make home improvements, we’re here to help.


Despite several government initiatives and favorable tax benefits, a salaried person in the lower tax bracket is unlikely to get a loan without pledging gold or securities with a bank or a non-banking financial company (NBFC).

Before you run to apply for a personal loan at We Rize, here are some things you need to know about our process:

Security We request no collateral for our loan.
Loan Amount Starting from INR 50,000 to INR 5,00,000
Tenure Starting from 6 months to a maximum of 3 years
Interest Rates 15% - can vary based on the profile of the customer
Required Salary INR 12,000 per month - in hand
Purpose of Loan Marriage, Medical Treatment, Education for self or family, Rental Deposit, Pilgrimage, Home improvement, etc.

ELIGIBILITY CRITERIA



There are some key aspects and filters of the customer which is a necessity for us before sanctioning our personal loan. We understand the needs of each customer and try to portray the same by customizing our Loan terms and conditions with an objective to match his or her requirement.

Customer Profile
  • ►The applicant should be a salaried individual, not self-employed, working in his own company, or working as a part-time employee.
  • ►The applicant should work for a private company or public company or educational institution/trust or government organization.
  • ►The age should be more than 21 years
  • ►No restriction on age
Work Experience
  • ►Minimum work experience of a year is mandatory
Salary
  • ►Minimum salary should be INR 12,000 per month
  • ►To be eligible for a loan, the applicant's salary must be credited directly to the bank account by direct deposit, salary paid in cash or cheque will not be considered.
Current EMI
  • ►To qualify for this loan, the total EMI that applicants pay every month should be less than 50% of their net in-hand salary.
No Overdue History
  • ►Customers with a current overdue loan will not be eligible for new loans.

Required Documents

  • ►Aadhar Card
  • ►PAN Card
  • ►Salary slips of 1 month (out of past 6 months for current employment)
  • ►Bank statement for last 12 months of the Salary Bank Account, in original Bank PDF format
  • ►To be accepted, your PDF statement must either have been downloaded from net banking or sent by email. A scanned bank statement will not be accepted.

Required Document for the Loan Disbursement

  • ►As part of the loan process, we may ask for a Guarantor within your family to help us confirm your financial status.
  • ►Four cheques of the salary bank account of the customer
  • ►Passport size photograph
  • ►Loan Statement / Loan Closure letter
  • ►Proof of Own House will be asked based on the profile of the customer

Internal Checks

Generally, before sanctioning any loan we do a detailed analysis and internal checks of the customer's financial condition. We look at his or her salary slip or income certificate to check his/her monthly income and expenditure. We do the same with assets owned by the customers such as houses, cars, jewelry, etc.

Here are some internal checks that may be carried out by us to verify your financial profile in order to ascertain your eligibility. These checks have no bearing on the interest rates or fees charged by us.

Credit Bureau
  • ►Before sanctioning the loan, we will be doing a mandatory CIBIL(credit bureau) check of the customer and guarantor (if asked). The purpose is to ensure that either the applicant has a good credit history or it supports our lending terms and conditions.
Bank Statement Authenticity
  • ►The bank statement will be checked and scrutinized by the financial advisors under the supervision of the concerned authority. In case of any discrepancy or irregularity in the bank statement, the request will be rejected and no leniency would be spared during the entire assessment process.
Address Verification
  • ►Our team will be making an onsite visit to verify your present and permanent address and office location. Once verified, we will initiate the sanctioning process and inform you of your approval status.

Let us take an example, How EMI is being calculated


For instance, if "Shubham" applies for a Personal loan of INR 3 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 2 years or 24 Months , in such a case his EMI would be INR 14,546 and complete repayment amount till the end of 2 years tenure would be INR 3,49,104 (i.e 14,546 EMI * 24 months), wherein the total interest amount is INR 49,104 along with principal repayment of INR 3,00,000. Few additional charges like those of minimal one-time processing fee ranging from 2% to 3% of loan amount, pre-payment penalty on an earlier foreclosure of loan ranging from 1% to 5% may also apply. T& C apply.

Month Principal Outstanding Interest Total Payment Payment towards Principal Loan Paid Till Date Balance Principal
1 3,00,000.00 3,750.00 10,400.00 ₹ 6,650.00 ₹ 6,650.00 ₹ 2,93,350.00
2 2,93,350.00 3,667.00 10,400.00 ₹6,733.00 ₹13,383.00 ₹ 2,86,617.00
3 2,86,617.00 3,583.00 10,400.00 ₹ 6,817.00 ₹ 20,200.00 ₹ 2,79,800.00
4 2,79,800.00 3,498.00 10,400.00 ₹ 6,902.00 ₹ 27,102.00 ₹ 2,72,898.00
5 2,72,898.00 3,411.00 10,400.00 ₹ 6,989.00 ₹ 34,091.00 ₹ 2,65,909.00
6 2,65,909.00 3,324.00 10,400.00 ₹ 7,076.00 ₹ 41,167.00 ₹ 2,58,833.00
7 2,58,833.00 3,235.00 10,400.00 ₹ 7,165.00 ₹ 48,332.00 ₹ 2,51,668.00
8 2,51,668.00 3,146.00 10,400.00 ₹ 7,254.00 ₹ 55,586.00 ₹2,44,414.00
9 2,44,414.00 3,055.00 10,400.00 ₹7,345.00 ₹ 62,931.00 ₹ 2,37,069.00
10 2,37,069.00 2,963.00 10,400.00 ₹ 7,437.00 ₹ 70,368.00 ₹ 2,29,632.00
11 2,29,632.00 2,870.00 10,400.00 ₹ 7,530.00 ₹ 77,898.00 ₹ 2,22,102.00
12 2,22,102.00 2,776.00 10,400.00 ₹ 7,624.00 ₹85,522.00 ₹ 2,14,478.00
13 2,14,478.00 2,681.00 10,400.00 ₹7,719.00 ₹93,241.00 ₹ 2,06,759.00
14 2,06,759.00 2,584.00 10,400.00 ₹7,816.00 ₹ 1,01,057.00 ₹ 1,98,943.00
15 1,98,943.00 2,487.00 10,400.00 ₹ 7,913.00 ₹ 1,08,970.00 ₹ 1,91,030.00
16 1,91,030.00 2,388.00 10,400.00 ₹ 8,012.00 ₹ 1,16,982.00 ₹ 1,83,018.00
17 1,83,018.00 2,288.00 10,400.00 ₹ 8,112.00 ₹ 1,25,094.00 ₹ 1,74,906.00
18 1,74,906.00 2,186.00 10,400.00 ₹ 8,214.00 ₹ 1,33,308.00 ₹ 1,66,692.00
19 1,66,692.00 2,084.00 10,400.00 ₹ 8,316.00 ₹ 1,41,624.00 ₹ 1,58,376.00
20 1,58,376.00 1,980.00 10,400.00 ₹ 8,420.00 ₹1,50,044.00 ₹ 1,49,956.00
21 1,49,956.00 1,874.00 10,400.00 ₹ 8,526.00 ₹ 1,58,570.00 ₹1,41,430.00
22 1,41,430.00 1,768.00 10,400.00 ₹ 8,632.00 ₹ 1,67,202.00 ₹ 1,32,798.00
23 1,32,798.00 1,660.00 10,400.00 ₹ 8,740.00 ₹ 1,75,942.00 ₹ 1,24,058.00
24 1,24,058.00 1,551.00 10,400.00 ₹8,849.00 ₹ 1,84,791.00 ₹ 1,15,209.00
25 1,15,209.00 1,440.00 10,400.00 ₹ 8,960.00 ₹ 1,93,751.00 ₹1,06,249.00
26 1,06,249.00 1,328.00 10,400.00 ₹9,072.00 ₹ 2,02,823.00 ₹ 97,177.00
27 97,177.00 1,215.00 10,400.00 ₹ 9,185.00 ₹ 2,12,008.00 ₹ 87,992.00
28 87,992.00 1,100.00 10,400.00 ₹ 9,300.00 ₹ 2,21,308.00 ₹78,692.00
29 78,692.00 984.00 10,400.00 ₹ 9,416.00 ₹ 2,30,724.00 ₹ 69,276.00
30 69,276.00 866.00 10,400.00 ₹ 9,534.00 ₹2,40,258.00 ₹59,742.00
31 59,742.00 747.00 10,400.00 ₹ 9,653.00 ₹ 2,49,911.00 ₹ 50,089.00
32 50,089.00 626.00 10,400.00 ₹ 9,774.00 ₹ 2,59,685.00 ₹ 40,315.00
33 40,315.00 504.00 10,400.00 ₹ 9,896.00 ₹ 2,69,581.00 ₹ 30,419.00
34 30,419.00 380.00 10,400.00 ₹ 10,020.00 ₹ 2,79,601.00 ₹ 20,399.00
35 20,399.00 255.00 10,400.00 ₹ 10,145.00 ₹ 2,89,746.00 ₹ 10,254.00
36 10,254.00 146.00 10,400.00 ₹ 10,254.00 ₹ 3,00,000.00 -

What Makes Us the Best Choice for Personal Loan?

Why are we the best choice for your next Personal Loan?

  • verified Faster and Accurate Delivery
  • verified No-Geographical Limitations
  • verified Complete Online Process
  • verified Customized Repayment Options
  • verified No Collateral Required
  • verified No Hidden Charges

FAQ's


In order to calculate the loan amount, we first adjust your current in-hand salary with your existing EMI payments.

The maximum loan period will be 3 years (36 months)

EMI is the amount you pay every month to repay a loan. It is calculated by dividing the total of disbursed principal and total interest by the number of installments in which the loan has to be paid back.

Within 3 working days of receiving the required documents, we'll send you an approval and sanction letter. After this, we'll initiate the agreement creation, verification, and disbursal process.

The loan amount will be directly deposited into your salary bank account, which you provided. No disbursement of funds will be made in cash or by cheque.

Basic eligibility criteria are as below –

  • Minimum total work experience of One year.
  • Net in hand salary per month should be at least INR 12,000 transfer.
  • Current total EMI of the customershould be less than 50% of their net in hand salary.
  • Customers should not have a current overdue in any loan.

The maximum loan amount that we offer is INR 5,00,000 (5 lacs). The loan amount is calculated based on the current in-hand salary and adjusting it with existing loan EMIs.

The maximum loan period will be 3 years (36 months)

Emi will be deducted from customer bank account directly on the EMI date of every month by registering NACH (National Auto Clearing House). Customer will have to submit duly signed (signature should match with bank database) NACH mandate form. This mandate form will be shared along with the loan agreement. In case the NACH mandate is not registered/rejected customer can make the payment via online transfer (NEFT / IMPS / UPI / Paytm / Google Pay / Phone Pe) from their bank account

The following basic documents are required for evaluation of the customer –

  • Aadhar Card.
  • PAN Card.
  • Current total EMI of the customershould be less than 50% of their net in hand salary.
  • 1 salary slip (out of past 6 months of current employment) or Salary Certificate from the company HR.
  • Bank statement for last 12 months of the Salary Bank Account, in original Bank PDF format.

The following basic documents are required for evaluation of the customer –

  • Aadhar Card.
  • PAN Card.
  • Current total EMI of the customershould be less than 50% of their net in hand salary.
  • 1 salary slip (out of past 6 months of current employment) or Salary Certificate from the company HR.
  • Bank statement for last 12 months of the Salary Bank Account, in original Bank PDF format.

  • Electricity Bill.
  • Property Tax.
  • Municipal Tax Receipt.
  • Water Tax Receipt
  • Property Purchase Deed.

Bureau report available – CIBIL, Equifax, Experian and CRIF. These reports provide the credit history of the customer, regarding the loans and credit card taken by them. It also provides the repayment history along with any prior or current delay in payments. We will be taking out any one of the 4 available report of the customer to check their previous history for our loan evaluation.