Finnable

Can I make a part payment on my personal loan?

Part payments are not allowed. However, you may pre-close the entire loan amount after 6 months. Pre-closure charges and applicable GST will be levied.

How do I apply for a personal loan on the Finnable app?

Download the Finnable app from the Play Store or the App Store Check your eligibility Fill in basic personal and professional details Upload your selfie and required documents Complete your application and await approval

Can I pre-close the personal loan?

Yes, you can pre-close your loan. However, we do not encourage pre-closure within the first 6 months. After 6 months, you may pre-close the loan, for which pre-closure charges with GST will apply.

How can I get my pre-closure amount?

The pre-closure details are available on the Finnable app. You can also request a pre-closure letter by writing to us at makeiteasy@finnable.com.

Can i move my e-mandate to another bank account if my salary account has changed?

Yes, you can! Just write to us at makeiteasy@finnable.com with your: Bank name Account number IFSC code We’ll send you an e-mandate link which you can activate via net banking or debit card through the Finnable app.

What is the minimum salary required to get a personal loan?

To be eligible, you must be a full-time employee earning at least ₹15,000 per month, with your salary credited directly to your bank account.

What is the eligibility criteria for a personal loan?

To quality for a personal loan, you must: Be a resident of India Be between 21 and 55 years old Have a full-time job in the public or private sector Have at least 3 months of total work experience Earn a net monthly salary of ₹15,000 or more, credited to your bank account

What is the interest rate and processing fee for a personal loan?

Interest Rate: The interest rate for personal loans at Finnable ranges from 16% to 30.99% per annum. The exact rate is determined based on factors like your income, credit score, and employment status. Loan Tenure: 6 months to 60 months. Processing Fee: A processing fee up to 5% + GST is applicable to cover administrative costs. The fee is usually deducted from the loan amount at the time of disbursement. It's important to check the loan terms thoroughly before finalising your loan application to understand the full scope of fees and charges associated with the personal loan.