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Why should I take the Faircent Pro loan?
Flexible Tenure Options :
- Choose from a range of flexible tenure periods, extending up to 60 months.
- Customize your loan repayment schedule according to your financial preferences and capabilities.
Tailored Loan Amounts:
- Faircent Pro offers loan amounts tailored to your individual needs, ranging up to 50 lakhs.
- Access the precise amount you require, ensuring that your financial goals are met without unnecessary borrowing.
Multiple Lenders to Fund:
- Benefit from our extensive network of lenders, providing diverse funding options for your loan.
- Explore multiple lender profiles to find the best match for your borrowing needs, ensuring competitive rates and favorable terms.
Prompt Funds Disbursement:
- Experience swift and efficient disbursement of funds upon loan approval.
- Once your loan application is processed and approved, expect prompt transfer of funds to your designated account.
What kind of a loan can I get?
Loan Amount:
upto 50L
as per your eligibilityLoan Tenure:
from 6 to 60 months
for the short and long termDocumentation:
100% online
No physical docs requiredInterest Rates:
from 22% to 36% pa onwards
the best of rates provided by the peopleTurnover Requirement:
more than 12 L turnover required
for loan disbursementProcessing Fees:
from 2% to 5%
with low processing fee and no hidden chargesYou've got questions? We've got the answers.
Frequently Asked Questions by Borrowers
Faircent Pro offers borrowers a lower interest rate and less hassle than traditional financing options. It offers attractive fixed rates,an easy online application, friendly service and no hidden fees.
Simply click on the Sign Up Now icon and register through the simple step by step process as instructed. Once you have filled the basic information required and uploaded the documents required, Faircent PRO risk assessment team will identity-verify, credit-check and risk-assess your profile. If qualified, your registration as a Borrower will be approved and you can apply for loan on the Faircent PRO platform.
The documents are required to identity-verify, credit-check and risk-assess a borrower before registration. Apart from the credit score, we use various other parameters like ability, stability, past performance and intention of the borrowers, which are evaluated basis these documents. The documents provided like salary slips, bank statements, ITR’s, balance sheets etc. help in taking a collective and transparent decision ensuring a fair field for the borrower.
At Faircent PRO, loan disbursal is dependent on loan requirement, but loan amount can vary from Rs. 10,00,000/- to Rs. 50,00,000/-.
Interest rates are suggested to each borrower by an automated credit appraisal system that uses the personal and financial information provided by borrowers across more than 120 criteria using more than 400 data points to risk-asses the borrowers and understand the strength of their credit profile. The interest rate thus assigned ranges from 22% to 36% * (It can vary from lender to lender). However, Unrated Borrowers can be registered at higher interest rate.
We use a highly-developed, technology-driven process of verification across more than 120 criteria using more than 400 data points basis the personal and financial information and documents provided by the borrower. Each borrower is identity-checked, credit-checked and risk-assessed by our experienced team. The intention, stability and ability of borrowers is evaluated and understood.
No, Physical verification doesn't take place at both residential and official address.
All loans are listed on the platform for 15 days which may, under special circumstances, be extended to a maximum of 30 days. This is known as listing period. However, the funding of the loan cannot be predicted or controlled as it is dependent upon attracting sufficient lenders. Credit-worthy borrowers can get funded within minutes and some borrowers assigned high rate of interest can take a few days. You can monitor lenders interest anytime by logging into your account.
Faircent PRO holds the right to decline a listing in certain cases such as:
The Borrower is unable to provide complete documentation or the same cannot be authenticated.These documents are required to evaluate the borrower’s credit-worthiness and intention/stability and ability to take and repay loan. Any deficiency on these parameters or in terms of past loan-performance of the borrower will lead to cancellation of listing of the borrower.Physical verification report is negative. It is established that the Borrower does not reside or work at the address submitted by the borrower.If at any stage of loan application, Faircent PRO finds that misleading information was deliberately provided by the borrower with intentions to cheat and hurt the Faircent PRO system, its Lenders, founders, stake holders, partners or employees or to infringe or steal the intellectual property of Faircent PRO.
Faircent PRO will not approve of a listing if it does not meet with our credit and verification standards. However, we encourage applicants to work on improving their credit history by repaying their debt in a timely manner and then try again after six months.
Faircent PRO does not provide you with your credit score.
Once your listing has been approved by Faircent PRO, your profile can be viewed by all registered Lenders. This includes your full name, profession, purpose of loan, email ID and financial information as this information helps you to get a loan faster. However, this information will not be visible to general visitors to the website. For more information, please view our Privacy Policy.
We do not show anyone’s address or phone number to prevent harassment. For more information, please view our Privacy Policy.
No, to avoid confusions and maintain lender interest, we do not make changes to a listing after it has been made live on the website. To increase the loan amount, you can create a fresh loan request for the difference.
Yes, if at any stage the information furnished by you or the verification(s) initiated by us are found to be incomplete, fraudulent or unverifiable then funding request is terminated and consequently, the invest button on the profile would be de-activated. No fee paid will be refunded.
Please write to [email protected] requesting cancellation of your registration as Borrower. Loan cancellation can only happen prior to disbursal of funds.