• Faircent - P2P Lending Platform

    You can avail a personal loan from Faircent, a Non-Banking Financial Corporation (NBFC) at attractive interest rates ranging between 12% and 28% and flexible repayment tenure from 6 months to 3 years. Faircent is a unique P2P platform where not only one can borrow in order to fulfill their needs but also lend. The lenders registered under Faircent are high net worth individuals who are doing well in their respective professions or NBFCs who can offer you a loan.

    Why you must avail a personal loan from Faircent?

    There are various reasons why you must avail a personal loan from Faircent:

    • To fund the education of your children
    • For family and wedding functions
    • Financing your next vacation
    • To undertake a professional course
    • Clear your credit card dues
    • Make down payments for car, bikes, etc.
    • Purchasing of home, renovating your house, etc.
    • Clear ongoing loans

    How to apply for a personal loan from Faircent?

    Given below is the process you will have to follow if you wish to avail a personal loan from Faircent:

    • Visit the official website of Faircent.
    • If you are a new user, click on ‘Register’. You will have to enter the details required and you will be able to create a profile within minutes. If you already have a profile, click on ‘Log in’ and enter your email ID and password. You can also sign in using the ‘sign in via otp’. A one-time password (OTP) will be sent to your registered mobile number using which you can log in.
    • You can then apply for a personal loan from Faircent. You will have to upload the necessary documents and pay the registration fees.
    • Once you have submitted the documents, the lender will verify the documents submitted by you. If they are satisfied with the fact that the documents submitted by you are correct and they believe that you will be able to repay the amount in time, then the loan amount will be disbursed to your bank account soon.

    Eligibility criteria

    • You must be a resident of India
    • Your minimum gross income must be Rs.2 lakh
    • You must be able to provide all the documents as asked for by Faircent

    Documents required

    • 2 photographs
    • Proof of identity such as PAN Card, Aadhaar Card, etc.
    • Proof of your date of birth such as Aadhaar Card, Passport, etc.
    • Proof of signature such as your PAN Card, signature verification obtained from the bank, etc.
    • Proof of your address such as Passport, Aadhaar Card, utility bills, etc.
    • Proof of contact such as the mobile bill for the previous month, postpaid landline bill for the previous month
    • Bank statements for the last 6 months
    • Scanned or cancelled cheque or the copy of the front page of the passbook which shows the IFSC code of the bank
    • Salary slip for the last 3 months, income tax returns for the last financial year
    • Nach mandate. Your signature must match the one you have provided to the bank where you hold an operative or a salary bank account.

    Fees and charges

    Given below is the list of fees and charges that will be levied on your loan amount:

    Processing fee 2.50% to 8.50% depending on the rate of interest levied on your loan amount
    Prepayment charge None
    Non-payment charges Penal interest at 18% p.a.
    Collection penalty Rs.500 for each delay in payment of EMI. If you do not pay your EMIs for a year, then the penalty can go up to Rs.1,000
    Account swap/EMI date change charges Rs.500
    Account statement charge Rs.100
    One-time listing fee Rs.500
    Complimentary e-book Rs.600


    1. What is the maximum loan amount that I can avail from Faircent?
    2. If you wish to avail a personal loan for personal use, your loan amount may vary between Rs.10,000 and Rs.50,000. However, if you wish to avail a personal loan from Faircent for business purposes, then the maximum loan you can avail is up to Rs.10 lakh.

    3. Will I be funded by an individual lender or multiple lenders?
    4. It won’t be possible for an individual lender to fund your entire loan. Hence, you will be funded by multiple lenders.

    5. Does Faircent undertake physical verification before sanctioning my loan?
    6. Yes, Faircent will conduct a physical verification both at your residence and at their office. A prior appointment will be fixed, and a physical verification will be conducted thereafter in order to verify the identity of the applicant.

    7. Can I be both a lender and a borrower?
    8. No, you can either be a lender or a borrower at a time.

    9. I have some queries related to my personal loan. How can I get in touch with a Faircent representative?
    10. In case you have any query related to your personal loan, you can get in touch with a Faircent representative by calling the number 0120-4659902.


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