Fincare Small Finance Bank Personal Loan @ 9.99% | Eligibility, Interest Rates, Benefits, Features and Documents Required

Fincare Small Finance Bank Personal Loan: Fincare Small Finance Bank was established as a small finance bank pursuant to the 2014-2015 Union Budget laws. Fincare Small Finance Bank’s personal loan is supervised by the Reserve Bank of India in compliance with the Small Finance Bank’s operation.

Fincare Small Bank Ltd. is an Indian private bank with its headquarters in Bangalore, Karnataka. The bank provides a range of smart banking products, including savings accounts, current accounts, fixed deposits, non-resident equivalent fixed deposits, recurring deposits, personal loans, loans against gold, loan against property, two-wheeler loans, microloans, and cash overdrafts, along with Fincare Small Finance Bank contact number.

The article deals with various aspects of Fincare Small Finance Bank, especially the features about Fincare Small Finance Bank Personal loan eligibility, a guide to Fincare Small Finance Bank personal loan apply online and much more.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Fincare Small Finance Bank

About Fincare Small Finance Bank Personal Loan

Fincare Small Finance Bank also offers low-interest personal loans to self-employed persons and salaried employees. You can use the loan to cover a range of personal financial obligations, including medical expenditures, shopping, credit card bill payment, vacation, and home maintenance. Fincare, Small Finance Bank, provides personal loans up to Rs. 50 lakh for a maximum period of 120 months. Borrowers of personal loans can obtain immediate approval for Fincare personal loans. Customer service at the bank is among the best in the business. The customer support person will take you through the whole procedure, from application to disbursement.

Features and Benefits of Fincare Small Finance Bank Personal Loan

By obtaining a personal loan from Fincare Small Finance Bank, you may take advantage of the following benefits:

  • Interest rates are reduced beginning at 9.99 percent per annum.
  • The loan amount increased to Rs. 50 lakh
  • Flexible payback period of 12 to 120 months
  • Approval of personal loans online with minimum documents
  • Personal loan without collateral

Fincare Small Finance Bank Personal Loan Interest Rates & other charges

The following table summarises the interest rates and other fees associated with a personal loan from Fincare Small Finance Bank:

Rate of interest 9.99 percent per annum
Processing costs 2% of the loan amount
Charges for payment 3% plus relevant charges
Tax on stamps NA
Charges for cheque bounces NA
Interest on fines. NA
Interest rate that fluctuates NA

Fincare Small Finance Bank Personal Loan Eligibility

The following are the fundamental qualifying requirements for obtaining a personal loan from Fincare Small Finance Bank:

  • Individuals seeking a personal loan should be between the ages of 21 and 58.
  • Minimum monthly income: A personal loan requires a minimum monthly income of Rs. 20,000.
  • CIBIL score: To qualify for a personal loan, you must have a credit score of at least 750.
  • Occupation: Fincare Small Finance Bank offers personal loans to salaried professionals as well as self-employed persons.

Documents Required for Fincare Small Finance Bank Personal Loan

To apply for a personal loan with Fincare Small Finance Bank, you must present the following documents:

  1. Application for a loan: Completed personal loan application form, accompanied by two passport-sized pictures.
  2. A legal copy of one of the following: Passport/license/Aadhaar driver’s card/ID Voter’s card
  3. Address verification: A copy of one of the following documents: rent agreement/utility bill (electricity bill/ water bill/ telephone bill)/ration card/passport – with the same address as on the loan application form.
  4. Salary slips for the previous six months/ITRs for the last two assessment years as evidence of income.
  5. Bank statement of the past three months that includes salary credit

Fincare Small Finance Bank Personal Loan EMI Calculator

When applying for a personal loan with Fincare Small Finance Bank, you must use an EMI calculator to determine your monthly instalments. One can choose the tenure and loan amount based on your monthly payback ability. If your monthly EMI exceeds your monthly budget, you can choose a longer duration that matches your monthly EMI. However, one should keep in their mind that a longer tenure equates to a higher interest rate.

Your EMI may be calculated by putting the following information into an EMI calculator:

  • Amount of loan
  • Rate of interest
  • The total duration of the loan

MSME Loans from Fincare Small Finance Bank

Fincare Small Finance Bank, one of the most popular small finance banks in India, offers a variety of loans and other financial products to different sectors of its customer base. Currently, the bank offers a single loan product via which its MSME customers can borrow capital for a variety of purposes.

Fincare Small Finance Bank offers the following MSME loans: Loan Against Real Estate.

Fincare Small Finance Bank Loan Against Property

This loan is intended to assist small businesses in obtaining financing to meet working capital or company growth needs through the use of a mortgaged property. This loan has a maximum sanctioned amount of Rs 50 lakh.

Featured of Loan Against Property

  • The Fincare Small Finance Bank Financing Against Property is the ideal MSME loan for small firms looking to leverage their property to satisfy working cash or capital expenditure needs.
  • The bank will accept both residential and commercial real estate as collateral for this loan.
  • The interest rate on this loan is between 14.99 per cent and 24 per cent.

Important Note: While the bank’s website now only contains information on one loan scheme, the bank may provide more MSME loan choices that are not yet included on the internet.

We recommend that you contact the local branch to inquire about the lending programmes available. This will also assist you in obtaining a customised quotation since many loan programmes are need-based, and some fees, such as application fees, service fees, and so on, maybe determined on a case-by-case basis.

Fincare Small Finance Bank Business Loans Interest Rate:

For the time being, the bank specifies the interest rate range for Fincare Small Finance Bank MSME loans. Please verify the precise interest rate on loan with the bank.

Premature withdrawal fund

FD or Fixed Deposit schemes by the bank comes with the system of premature withdrawal option to fill in for any kind of emergency situations. Important points highlighting this specific facility are:

  • There are several FD interest’s rates for options of Priority Plus Fixed Deposit scheme, i.e. with and also without premature withdrawal.
  • The bank charges a penalty of 0.5% on the applicable rates.
  • The bank may additionally allow partial withdrawal in many cases.

Online Assistance for Queries, Feedback, or Complaints

Fincare Small Finance Bank’s customer support is available by mobile phone, phone, and mail, as well as in-store. Customers should absolutely submit an email to customer service directly from the Fincare Small Finance Bank website.

Clients can also contact the bank via their mobile banking account with any issues or inquiries. Contacting the customer service department is possible.

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