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Faircent Personal Loan Pre-closure Charges

Faircent is India’s first peer-to-peer (P2P) lending platform to receive a Certificate of Registration (CoR) as an NBFC-P2P from the Reserve Bank of India (RBI). It provides a virtual market platform where borrowers and lenders can directly interact with each other and intermediaries. It enables borrowers to borrow at low cost and lenders to lend directly to their peers earning higher returns. One can borrow loan from Faircent for any of the personal use such as vacations, education and so on.
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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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Fees charged

Faircent charges a one-time fee of Rs 500 from borrowers, which is due at the time of registration and the fee, is non-refundable. The fee gets adjusted towards the final processing if borrower is funded by the platform.

Rate of interest 10-14% 14%-18% 18%-22% 22%-26% 26%-30%
Max processing fees 3% 3.50% 4% 4.50% 5.50%

*Taxes charged additionally

Registration Process

Faircent offers easy and quick process, where borrower clicks on the sign up now icon, enters some basic information, pays the registration fees and uploads the documents required. Based on the document provided, borrowers are verified providing their efficiency to repay the loan. The loan tenure ranges from 6 months to 36 months. Borrowers are classified into rated and unrated segments in accordance to their credit history. The unrated borrowers are charged with high rate of interest.

After the borrower is verified his loan requirement is listed, various lenders can view their listed application and send proposals to fund their requirements at a specific rate of interest. This platform in order to secure lenders money enables each lender to fund up to 20% of the loan amount and each loan can be funded by at least 5 lenders.

Payment process

The first EMI is payable by cheque and thereafter payment are made by online automated procedure. It enables money transfer without the need to issue numerous cheques. The process uses NACH mandate for collection along with other documents at the time of listing the loan. Auto-debit enables direct collection of EMI from borrower’s salary account into Escrow account from where it disburses to respective lenders.

Pre-closure

By pre-payment, borrower can pre-close the loan agreement without any penalty after three months from the date of disbursal. In order to safeguard the rights of lenders, before three months borrowers need pay balance interest due to lender for a three months period from the date of disbursal. Pre-closing your personal loan can help reduce the stress of monthly EMIs. Further getting the estimated value you need to repay to the bank helps you in deciding whether pre-paying a personal loan is a good option or not.

For any further query you can contact: 0120-4659902

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Why Faircent?

Faircent is an open online platform that provides borrower and lender equal weightage. It brings both the parties in direct contact with each other with the intervention from intermediaries and their ensuing cost. Faircent provides a P2P platform that brings buyers and lenders together to facilitate transaction. Borrowers with worthy credit history may expect various lenders interested to lend them fund.

The lenders listed on Faircent.com are trusted and verified individuals, as the organisation ensures only genuine lenders come in contact with the borrowers.

It will help to have all your documents in place along with a clean credit card payment history which directly affects your credit rating. P2P platform can help you negotiate on the basis of a good credit rating and the interest determined for you is dependent on a number of factors.

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
All Your Needs

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Shamik Ghosh

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