Faircent, India's pioneering peer-to-peer (P2P) lending platform, offers personal loans with low interest rates. The Faircent personal loan interest rate Starting from 10% per annum for creditworthy borrowers. However, it can vary based on the borrower's credit profile, income, and repayment history.
What is the Interest Rate of Faircent Personal Loan?
It typically starts from 10% onwards per annum. Here are a few more details you must know about the Faircent personal loan.
Loan Amount: Up to Rs10 lakhs, depending on eligibility.
Tenure: Flexible repayment periods ranging from 6 to 36 months.
Prepayment Charges: A nominal fee of Rs500 is applicable if the loan is closed before three months; post that, loans can be prepaid without penalties.
Faircent evaluates several parameters to determine the applicable interest rate for a borrower:
Credit Score: A higher score can lead to lower interest rates.
Income Stability: Consistent and verifiable income sources are favorable.
Employment Type: Salaried individuals in reputed organizations may receive better rates.
Loan Purpose: Specific purposes like home improvement or debt consolidation might influence the rate.
I hope you found this helpful.
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What is Faircent Personal Loan Interest Rate?
ruchi
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8 months
2025-05-01T10:44:14+00:00 2025-05-01T10:44:15+00:00Comment
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