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Q.

Is Finnable Loan Safe?

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Finnable is a digital lending platform in India offering instant personal loans up to Rs. 10 Lakhs for salaried professionals. So, is Finnable loan safe? One of its major safety positives is that it claims to be an RBI-registered NBFC (Non-Banking Financial Company) or at least works via partnerships with RBI-regulated NBFCs and banks. Because of this regulatory backing, Finnable is more likely to be operating within legal norms for credit regulation, disclosure, data privacy, and grievance redressal.

  1. Finnable publishes interest rates ranging from 16% to 35.99% depending on credit risk and processing fee details 4% to 5% +GST on its site.

  2. They require documents such as PAN, Aadhaar, bank statements, etc., and verify CIBIL score for risk assessment.

Finnable has published grievance redressal policy, privacy policy, terms & conditions and contact information. However, it is best to do your due diligence. As some users reported lack of clarity in final interest rate, delays or problems in customer service, and sometimes feel misinformed about charges.

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