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CrediFiable

If you are looking for a personal loan, you don’t have to go through the hassle of documentation and then waiting for weeks for your loan to be sanctioned. Thanks to CrediFiable, you can now get a personal loan quickly and easily.

Loan details
Interest Rate Starts from 10.99% p.a.
Processing Fee 2% to 3% of the loan amount
Max Tenure Up to 36 months

How Does it Work?

CrediFiable is a P2P credit lending platform. It uses technology to help those looking for a loan get one at an affordable rate of interest. At the same time, it helps lenders earn attractive returns. What it essentially does is cut the middleman from the entire process of lending and borrowing money. This brings in efficiency and a shorter transaction period. Moreover, unlike banks, CrediFiable lets you take a personal loan at an affordable rate of interest even if you have little to no credit history.

Additionally, since these loans are given exclusively to salaried individuals, CrediFiable’s pricing model analyses each individual’s profile. The model then gives each person a risk grade. Based on this grade an interest rate is charged.

How to Apply?

Applying for a personal loan is easy with CrediFiable. Here are the steps you need to follow:

  • Fill in the application form on the CrediFiable website. You will have to provide PAN Card details and upload your bank account statement for the last 3 months.
  • You will then receive a call with the various EMI options available.
  • Once you zero in on an EMI option, you need to complete your KYC by uploading necessary documents online. You will also have to upload your pay slip for the last 3 months.
  • You will receive your loan agreement via email which is collected from your place of residence once it is signed. And that’s it.

Eligibility

The eligibility criteria for loans from CrediFiable are not too many. They are:

  • Work in any organisation (MNC/start-up, etc.) and earn a salary.
  • You can be working in an organisation for any period of time to be eligible for a short-term loan from CrediFiable. You don’t require a year’s worth of work experience.
  • If you have just changed your job, you are still eligible for a loan.
  • Persons with a CIBIL score below 700 are also eligible for loans from CrediFiable.

Features and Benefits

  • Get personal loans from Rs.50,000 to Rs.5 lakh.
  • No paperwork involved. Apply online and upload documents online as well.
  • Get the best interest rate for your credit risk grade even if you don’t have a credit history.
  • Choose from multiple EMI options available.

FAQs

Should I consider a payday loan instead of a short-term personal loan?

Always consider taking a short-term personal loan since the amount doesn’t have to be repaid in one shot.

Do I have to pay a documentation fee?

No, apart from the processing fee you pay upfront, there is no other fee that needs to be paid.

How long will it take for the money to reach my account?

If there is no issue with the application form or any of the documents provided, your loan could be disbursed in 3 business days.

Will I be charged a prepayment penalty if I pay the loan in advance?

If you prepay the entire loan after paying the first 3 EMIs, you can prepay the loan without paying any prepayment charge.

What is the minimum loan tenure?

The shortest tenure is 6 months.

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