In this article, we are going to look How you can get a Personal loan from Fairmoney App. FairMoney is one of the best apps that will help you get a loan instantly and manage your financial situation. You can borrow from Rs750 to Rs 50,000 Instantly.
Fairmoney loan app is perfect for small financial situations. You can use this borrowed amount for any kind of purpose. Let’s dig deep and understand how this app works and how you can get a loan from Fairmoneyapp.
In a Nutshell
FairMoney is a fast, secure, reliable, and free Android mobile banking app, available in India. They make getting a personal cash loan easy and fast: download the app, sign up using your mobile, Aadhaar, and PAN numbers, answer a few questions, and get instant cash loans approved in under 5 minutes!
What you need to know about the FairMoney App.
This app is only available for Android users. It was started in January 2018. Till now there is more than 1 million downloads on the PlayStore.
The Fairmoney loan app is Fast and Secure. They work with Apollo Finvest, It is a financial institution in India, regulated by RBI & with an NBFC licence.
Using this Fairmoney app you can get a personal loan of as little as Rs 750 Only. With a very low-Interest rate. The app provides instant approval in under 5 minutes. No Collateral or Paperwork is required for the loan. And the amount will be deposited directly into your bank account.
This is a perfect solution to manage your very small expenses in financial situations.
Instant Personal Loan by Fairmoney app
We often need some cash in our pocket at the month-end, Before our next salary gets credited. Either it is to pay some bills, or rent, or any kind of expenses. We’re glad that now apps like Fairmoney are there to help us in these kinds of financial situations.
How much Personal loan you can get from Fairmoney?
Among the other personal loan apps available in the market, Fairmoney offers the best deal. You can get a personal loan from as little as Rs 750 to Rs 50,000.
What is the Repayment Period for Fairmoney Loan?
For the personal loan you get from fairmoney application. The repayment period will be vary from 61 days to 180 days.
How much interest will be applicable Instant Personal Loan?
If you get a loan from fairmoney app. The interest rate will be between 12% to 36% per annum.
You may be charged up to 0.2% daily late fees for late payments (capped to 18% of the principal amount overdue).
How much processing fees will be applicable?
To get a personal loan from this app you will be charged with processing fees ranging from 3% to 12% (GST 18% applies)
Why you should choose Fairmoney Personal Loan app?
Nowadays there is a number of apps available in the market using you can get a personal loan. But, Why you should choose a fair money app for your personal loan needs. Let’s discuss.
Flexible Loan Amount
Using this app you can borrow from ₹750 to ₹50000 For all your Instant Cash needs. Build your credit score and get access to higher loans, discounts or flexible interest rates when loan repayments are made on time.
Small Online Application process
To apply for an Instant Personal Loan on FairMoney you don’t need to do long and lengthy paperwork nor any collateral. Just fill in some details on the app and get instant cash right in your bank account.
Be sure of what you will pay before you take a loan: no playing with money, no hidden fees with FairMoney.
The app offers 24×7 service. That means you can apply for Personal loans at any time. And get the borrowed loan amount transferred to your bank account at any time.
Quick & Secure
They will approve your loan in less than 5 minutes, and fully online process. So, you don’t have to wait for your loan approval.
They work with Apollo Finvest, a financial institution in India, regulated by RBI & with an NBFC license. They are legally compliant. Als They encrypt the data you share through the app. So that your personal details will be safe and secure.
Affordable Interest Rates
The Interest rates for the personal loan you’ll get from Fairmoney will be ranging from 12% to 36% annually.
How to get Fairmoney Personal Loan?
Having a personal loan in just 5 minutes is really a relief. You can easily apply for the amount you need and with the approval, within minutes you get the amount directly into your bank account. And all you need is to follow these simple steps in order to get a personal loan.
1. Download the Fairmoney App
The fairmoney app is currently only availabe for android users. You can download the app from google play store by simply using the button below.
2. Signup with your phone number
Once you download the application from the play store. Simply register your account using your phone number. And create your personal Secure PIN.
3. Apply for the personal loan
Once the signup process is complete. and your secure PIN is set. You can apply for a personal loan from the “Apply” button on the homepage.
4. Verify Identity
After clicking on Apply button, You will be asked some simple questions about yourself. Answer those questions and verify your identity through KYC process.
5. Receive Loan offer
Once the above process is complete, You will now receive a loan offer. After the offer is received you can select the amount and the period for the loan you required and apply for the Personal loan.
6. Get the amount transferred
Once the application process is done. And you accept the loan offer. Enter your bank details in order to receive you loan amount directly into your bank account.
What are the Eligibility Criteria for FairMoney Personal Loan?
Eligibility criteria Includes:
- Your age must be above 18 years
- You must be an Indian resident.
- Pan Card
- Aadhar Card
- Bank Account
Who the FairMoney app is good for?
This app is a good option if you need instant cash in your account before your next Salary gets credited. You can borrow multiple times and with low-interest rates possible.
Need a bigger amount of Personal Loan? Check our review on the Early Salary Instant cash Personal Loan App. Which offers Personal loans up to Rs.5 lakh.