Open a Free Demat Account in just 15 Minutes#

Simplified Research | Easy to use Trading Platforms | Low Brokerage Rates

CLICK HERE TO OPEN AN ACCOUNT

Faircent

 

Borrower Eligibility Criteria

A Borrower on Faircent must:

1. Be a resident of India.
2. Have a minimum gross income of INR 2 lacs per annum.
3. Provide all the documents mentioned in the checklist.

QUICK CHECK OF DOCUMENTATION REQUIRED

Borrowers will be required to provide Faircent with following documentation at the time of verification.

1	Photographs	2 copies
2	Identity Proof (any one of the following)	PAN Card Adhaar Card Voter ID Passport
3	Date of Birth Proof (any one of the following)	PAN Card Passport
4	Signature Proof (any one of the following)	PAN Card Signature verification from your bank Passport
5	Address Proof (any one of the following)	Passport Bank Statement  Voter ID  Electricity Bill (within last 3 months)  Post paid Telephone Bill
6	Contact Proof (any one of the following)	Post paid Mobile Bill (last month) Post paid Landline Bill (last month)
7(a)	Bank Statements	Last 6 months
7(b)	IFSC code	Scanned/canceled cheque or copy of the front page of pass book of same bank account
8	Proof of Income	Last 3 months of Salary Slip (For Salaried Professional) Last 2 year’s Business/Personal ITR & Take home salary (For Business Professional)
9	NACH Mandate	Please ensure sign matches bank account signatures
10	e-Mandate	Will be required if loan request is approved. Please keep debit card/net banking details of the bank account whose details were entered at the time of registration ready.

NACH is used to electronically transfer funds from lender’s escrow account to Borrower’s bank account and to make repayments from borrower’s account to lender’s escrow account. Thus, it’s important to ensure that the sign on the NACH mandate matches with the borrower’s bank account signature.

Information provided by you will be used strictly for official purposes, and Faircent safeguards client confidentiality. For further information, please read the Faircent Policy and Terms and Conditions mentioned on the website.

link your PAN with Aadhaar

Deadline for linking Aadhaar with PAN card extended till March 31, 2022

 You can link your PAN with Aadhaar by following process:

a) Open the Income Tax e-filing portal - https://incometaxindiaefiling.gov.in/

b) Register on it (if not already done). Your PAN (Permanent Account Number) will be your user id.

c) Log in by entering the User ID, password and date of birth.

d) A pop up window will appear, prompting you to link your PAN with Aadhaar. If not, go to ‘Profile Settings’ on Menu bar and click on ‘Link Aadhaar’.

e) Details such as name date of birth and gender will already be mentioned as per the PAN details.

f) Verify the PAN details on screen with the ones mentioned on your Aadhaar. Pls. note that if there is a mismatch, you need to get the same corrected in either of the documents.

g) If the details match, enter your Aadhaar number and click on the “link now” button.

h) A pop-up message will inform you that your Aadhaar has been successfully linked to your PAN

i) You may also visit https://www.utiitsl.com/ OR https://www.egov-nsdl.co.in/ to link your PAN and Aadhaar.

upstox

 Simple and smart way to start investing in

Download Free Upstox App

One platform. Multiple investment opportunities.

Long term investors, pro traders or part-time traders can choose across various asset classes and create a customised portfolio. All from one platform.

Stocks

Mutual Funds

IPOs

Future & Options

Download Free Upstox App

IQ Option

 

Ultimate Trading. Cryptocurrencies (Version 2)

Conversion rate: Highest. This landing covers Forex, Cryptocurrencies, and Binary Options. You can use the menu at the top of the page to choose a trading instrument, language, or page on the IQ Option website: "IQ Option in Numbers," "In the Press," and "Awards," which opens in a new window. It has a nice interactive chart that shows the price to open a position and the growth rate for different currency pairs with a choice of the time period to show data for. The landing also has two dynamic blocks that update in real time: a set of price movement profiles over 3 months for shares of leading companies, and statistics about IQ Option.

Credit Card

Mobile Credit Card.

Mobile Credit Line.

 

1st Credit Card for UPI Payment

Limit up to Rs.5,00,000

GET START

Apply Now

Money View Loans

Get an Instant Personal Loan upto Rs. 5 Lakh in 24 Hours

Avail Rs 5K-Rs 5L from anywhere in India

Quick 2 Min. Eligibility Check | Low Monthly Interest From 1.33% (16% Annually)
100% Online & Paperless Process | Long Repayment Plans up to 5 Years

 

Check If You are Eligible for an Personal Loan

• Employment Type

You must be Salaried or Self Employed (own business)

• Monthly Income

Your monthly in-hand income should be Rs 13,500/- or more. To know more, click here.

• Income in Bank

Your salary must be directly credited to your bank account

• Credit Score

You must either have a minimum CIBIL score of 600 or a minimum Experian score of 650. Low Credit Score? You may still get a loan based on our own credit-assessment model.

• Age

Applicants must be between the ages of 21 years to 57 years

Do you fulfill the above criteria? Check your custom loan offer in 2 minutes by clicking here!

Personal Loan Eligibility Criteria Based on the Applicant’s City of Residence

The income and credit score requirement vary based on the applicant’s city of residence as illustrated in the table given below -

Income and Credit Score Eligibility Criteria
Salaried Individuals	Minimum In-Hand Income	Area of Residence	CIBIL Credit Score Requirement
	Rs 13,500	Any	CIBIL Score of 600 /Experian Score of 650 and above
	Rs 20,000	Mumbai/Thane or the NCR region (Delhi, Noida, Gurgaon, Ghaziabad, Faridabad, etc.)	New to Credit or CIBIL Score of 600 /Experian Score of 650 and above
	Rs 15,000	Metro City other than Mumbai and NCR	CIBIL Score of 600 /Experian Score of 650 and above
Self-Employed Individuals	Rs. 15,000	Any	CIBIL Score of 600 /Experian Score of 650 and above

Money View Personal Loan Eligibility

Given below are some of the factors that affects your personal loan eligibility -

• Credit Score

Your credit score is a numerical measure of your credit worthiness. If you have a high credit score (>700) then you are considered to be less risky in terms of defaulting on your repayments and can therefore avail a higher amount of loan at lower interest rates.

• Income Level

Higher the income, higher is the repayment ability as long as there aren’t multiple loans active at the same time. At Money View, we require applicants to have a minimum monthly in-hand income of Rs. 13,500 or above for those who are salaried and Rs. 15,000 or more for those who are self-employed.

• Age

Another factor that determines eligibility is your age. Usually those currently in the earning bracket can avail loans easily. At Money View, you must be between the ages of 21 to 57 in order to avail personal loans.

• Area of Residence

Those in Tier - I cities usually have a higher income and credit score requirement as compared to those living in Tier -II and Tier -III cities as the income as well as expenses may be higher making the repayment a little more riskier.

• Type of Employment

Lower the risk associated with repayment, lower is the interest rate imposed. Salaried applicants are generally considered to pose less risk as compared to self-employed applicants.

Personal Loan Eligibility - Related FAQs

How Is Your Personal Loan Eligibility Calculated?

In order to be eligible to get a personal loan from Money View, you must meet the following criteria -

• You must be salaried or self-employed
• Your monthly in-hand income must be Rs. 13,500 and above for salaried applicants and Rs. 15,000 and above for self-employed applicants
• Your income must be credited directly to your bank account
• You must either have a minimum CIBIL score of 600 or a minimum Experian score of 650
• You must be between the ages of 21 years and 57 years

If you fulfill the above personal loan eligibility criteria, you can apply for a loan from Money View and finish our eligibility check which only takes two minutes. Based on this, we will create a custom loan offer tailored to meet your needs and requirements.

 

Online Zero Balance Savings Account

Get your free Kotak 811 account now. Using this link to open account in 5 minutes-

Hey,

we can both earn a scratch card for up to ₹50 when you sign up on NiyoX (2-in-1 Savings & Wealth Account) with my code KRISH637177 and make any transaction of more than ₹999.

NiyoX by Equitas SFB is a 0 balance account with a peak interest rate of 7%* p.a. 

Hurry, download NiyoX today https://niyox.page.link/9Sjjzbkpg7TU1AKp6 *T&C apply

FAIRCENT LOAN

 

Upstox

 Investing

With Upstox, it’s easy!

Open a free Demat + Trading account and get:

• ₹1000 brokerage credit valid for 30 days^#
• 
  
• Up to ₹20/order on Equity, F&O, Commodity and Currency
• ₹0 brokerage* on Mutual Funds and IPOs
• 
  
  
  
• 
  
  
  

ICICI BANK LOANS

 

Open an ICICI Demat & Trading account

 

Introducing ICICI direct NEO – ₹0* Brokerage Plan
Open an ICICI Demat & Trading account with ICICI direct

Get additional benefits worth ₹ 7,099^#

Offers will be credited, post account opening once the account is activated within 1 month by placing a Trade.

Kotak 811 account

Get your free Kotak 811 account now. Using this link to open account in 5 minutes-

Get your free Kotak 811 account now. Using this link to open account in 5 minutes-

 https://www.kotak.com/811-savingsaccount-ZeroBalanceAccount/811/ahome2.action?Source=VKYCICB&banner=ICBVKYClaunch&pubild=VKYClaunchmailer_3417_one@gromo_ITLP8054

 

Groww

Join me and 10 million Indians on Groww to invest in Stocks and Direct Mutual Funds.

Earn your ₹100 reward straight to your Groww Balance to start investing by activating your account using this link. Limited time period offer only:  https://groww.app.link/refe/krishna12249162

Dhani doctor

 Hey - I am using Dhani doctor and you should also try using this service it is simply amazing. Speak to specialised doctors over video calls, anytime of the day and get prescribed medicines at flat 50% discount with doorstep delivery- all for a small monthly fee of only Rs.150, probably that's why 2.5 crore people use Dhani. Download Dhani app from here https://dhani.onelink.me/zcy7/45cede6b`

dhani epharmacy

 

I am using dhani epharmacy and you should also try using this service, it is simply amazing. Get flat 25% discount on any medicines, simply by uploading your prescription. They offer cash on delivery & free doorstep delivery probably that's why more than 2 crore people use dhani. Download dhani app from here https://dhani.onelink.me/zcy7/963f2f5c`

Dhani free cashback card

 

Hey- I am using Dhani free cashback card and you should also try this card it is lifetime free and simply amazing. Get flat 2% cashback on all your spends, every time, every day. There are no conditions and no limits probably that's why more than 2.5 crore people use Dhani. Use my code DOST100 while applying for Dhani free cashback card & get Rs.100 on card activation. Download Dhani app from here https://dhani.onelink.me/zcy7/c4a5d0ce`

Dhani the super saver card

Hey - I am using dhani the super saver card and you should also try this card. It offers Flat 5% cashback on all your spends, every time, every day. You also get dhani health membership where you can save 60% off on your medicines by paying a small monthly fee probably that's why 2.5 crore people use dhani. Download dhani app from here https://dhani.onelink.me/zcy7/2f89f829`

Dhani One Freedom card 0% interest loan

 Hey - I am using Dhani and it is simply amazing. You should also try taking Dhani One Freedom card which gives 0% interest loan and also allows anytime doctor consultation within seconds and one hour delivery of medicines at 50% discount - all for a small monthly fee of only Rs.199, probably that's why 2.5 crore people use Dhani. Download it from here https://dhani.onelink.me/zcy7/47d9108d`

Business Loan

 

Banking and NBFC finance still remain the mainstay of India’s small and medium enterprises. Business loan help your small business grow, allowing you to invest in infrastructure, operations, and plant and machinery. Moreover, business loans can also be a veritable medium of maintaining Business for critical business operations. 

Customized business loans are a new category of business loans which are tailored to meet the specific needs of a new age business or startup. These loans offer your enterprise the opportunity to scale and give it the competitive edge necessary for success in today’s world.

What is a business loan?

A business loan is basically a borrowed amount of capital that is used for an investment in a new or existing business set up. Whether small or medium-sized enterprises (SMEs) or large businesses, it is absolutely important to understand how these loans work.

From the people involved, the formalities, benefits, to the risks, terms and conditions – all the aspects require your utmost attention before you proceed to take a loan. Proceed and learn about them below with us!

Features of Lendingkart Business Loan

Lendingkart offers customized business loans for small and medium businesses in India. Our loans are free from the bureaucratic red tape that often accompanies bank loans and have a very straightforward application, approval and disbursal process. We have designed a fast and efficient digital interface that minimizes human interaction and thus helps in speeding up the whole ‘taking a business loan’ process.

1. Get Business Loans up to ₹ 2 Crore

   We offer business loans of ₹ 50,000 up to ₹ 2 Crore to eligible SMEs. Our wider loan window increases the chances of business loan approval and provides you the funds needed for growth and expansion of your venture.

2. Superfast Business Loan Processing

   We have taken loan processing times to the next level through our Online Only loan application process. It allows us to by-pass a lot of manual work and provide same-day loan approvals.

3. Fast Turnaround Time and Disbursals

   Lendingkart’s offers business loans faster than the 59 Minute Business Loan scheme. With our online business loan processing, you can get a business loan within 3 days as opposed to 8-10 days taken by banks.

4. No collateral required

   A business loan from Lendingkart does not put your valuable assets on risk. We offer unsecured business loans that do not require any collateral or security. So, you don’t have to worry about developing your capital assets anymore.

5. Fair interest rates

   Lendingkart uses proprietary big data and machine learning tools to determine the lowest interest rates on business loans, on a case to case basis. This means, the interest rates you get from Lendingkart are the best ones available for your business.

6. Extended Loan Tenure

   Our loan tenure of minimum 1 month and maximum 36 months, vastly extends the credit relief for your business. If you are facing temporary Business problems, a business loan tenure of 6 months or more can give you the necessary buffer for resolving operational issues.

7. No Hidden Costs

   Lendingkart business loans promise zero hidden costs and charges. We only levy a one-time processing fee of 2-3% based on your loan ask and that’s all. This allows you to retain more of the principal amount for business growth.

8. Flexible Repayments

   Last but not the least, Lendingkart business loans can be repaid in monthly or bi-weekly EMIs. Our EMI options allow you to pace your repayments as per your invoicing and sales cycle, for example, if your sales are going great, you can repay your business loan two times faster with the bi-weekly EMI option.

Benefits of Business Loan by Lendingkart

Business loans from Lendingkart are enable you to redraw your business strategies for matching today’s agile work environments. Here are the benefits of taking a business loan from an NBFC like Lendingkart.

– Faster processing:

Faster processing means faster credit for your business, allowing you to explore new horizons and exploit opportunities as they come your way. A timely business loan can expand your marketing potential, speed up your operations, and eventually increase your profit margins.

– Preserving your ownership:

Since it is an unsecured business loan, you are at no risk of losing valuable assets or giving up precious company stock in lieu of investment. So, a Lendingkart business loan allows you to preserve your ownership while also providing you with the funds to grow your enterprise.

– Streamlines your cash flow:

Lendingkart business loans increase your window of opportunity by providing both capital and time for you to streamline your cash flow and get into profitable territory. These loans allow you to strike a balance between your Business fund and company capital fund by providing investment that can be repaid in instalments.

– Improve your credit score:

An NBFC loan from Lendingkart is the best way to improve your business credit score as we report loan accounts to all credit bureaus. Moreover, a business loan with Lendingkart is especially beneficial for companies witnessing a recent dip in credit score due to unforeseen market conditions.

Apply Now

Business Loan Fees & Interest Rates

Customized Interest Rates	1.5 to 2% per month
Processing Fees	2-3%
Loan Tenure	up to 36 months
Pre-closure Charges	Nil**
Eligibility Criteria	> ₹ 90,000 turn over for 3 Months
Loan Amount	₹ 50,000 – ₹ 2 crore
Installments	Flexible Monthly / Bi-weekly

*Based on the health of your business, revenues and annual turnover
**Pre-closures are only allowed after the first EMI is paid in full

Eligibility Criteria for Business Loan

Lendingkart has kept the eligibility requirements to the bare essentials in order to process business loans faster. We do not require too many documents or unnecessary paperwork that can hold-up the loan approval process.

1. An established business that has been in operations for more than 6 months.
2. A minimum turnover of ₹ 90,000 or more in the 3 months preceding your loan application.
3. The business should not fall under blacklisted / excluded list for SBA finance.
4. The physical location of your enterprises should not be in the negative location list.
5. Trusts, NGOs and charitable institutions are not eligible for small business loans.

If you are not sure if your business falls under a restricted category or location, you can contact us to confirm your eligibility

Apply Now

Documents Required for a Business loan

	Proprietorship	Partnership	Pvt. Ltd. / LLP / One Person Company
Bank statement (12 months)
Business registration proof
Proprietor(s) PAN Card Copy
Proprietor(s) Aadhar Card Copy
Partnership Deed Copy
Company PAN Card Copy

We accept any of the following as a Business registration proof
1) Business Registration Certificate 2) GST filing 3) Gumastadhara 4) Trade License 5) Drug License 6) TIN  7) VAT registration

3 simple steps to your Business loan

1. Submit Application

   Simply enter your personal, business and financial info to receive a business loan offer.

2. Upload Documents

   Upload digital copies of your documents in a single step process for verification.

3. Get Sanctioned

   Receive your business loan approval and disbursal within 3 working days.

Apply Now

Types of Business Loans

Most people have the misconception that only banks and government institutions can sanction business loans. The truth is, there are several type of business investments available in the market that can be considered as a business loan. It is important that a small or medium enterprise owner knows about these business loan types in order to get funding through proper channels for his/her company.

Here’s a list of six most common types of Business Loan for SMEs

1. Bank Overdraft / Credit Line:

   This facility is available from both banks and online lenders. It allows a revolving credit facility, in which a businessman can withdraw money up to a sanctioned limit from their business account, even if the actual account balance is lower. The excess amount is considered as a business loan, which can be repaid by depositing the same, plus interest, in the account.

2. Equity Funding

   Business owners can also raise funds by divesting their share in the company in lieu of capital investment. While a popular choice in more advanced markets like the United States, equity funding is a less preferred option in Indian investment market by SMEs, as it accompanies the risk of ownership dilution. In case of equity funding, a business owner can retain the option for buy back of shares in order to get back to preferred ownership levels, once the investment objectives have been met.

3. Short-term Loans

   These loans have a smaller-ticket size owing to the shorter repayment window. Generally, a short-term loan is given for a period ranging between 3 to 18 months as these loans are meant for working capital finance and limited capital investment. However, Lendingkart offers short-term business loans for a period of 1 to 24 months, increasing the convenience of credit for small and medium enterprises in India.

4. Equipment Finance

   Equipment finance is a popular means of improving cash flow and working capital. Equipment financing is the use of a loan or lease for purchasing or borrowing hard assets. It is a type of secured business loan because the lender has rights over the equipment in case of a default.

5. Loan on Accounts Receivables

   Also known as invoice financing, these are very short-term credits, given in lieu of accounts receivables. The shortcoming of this kind of business loans is that they can only be availed by SMEs with commercial customers. The loans tenure generally ends on the invoice due date and require full payment along with interest and processing charges.

6. Factoring / Advances

   Under this arrangement the money is paid in advance by the factor company to the business for an accounts receivable. However, instead of paying the full amount, a percentage of amount, usually 70% to 90% of the invoice value, is paid. The rest is retained to cover unforeseen charges, breakage, delivery and quality errors. For this kind of business loans, both the buying and selling companies have to come onboard and work with a factoring company.

7. Trade Creditor

   A supplier who has provided goods or services to your business, but is yet to be paid, is considered a trade creditor. It is a very common arrangement for conducting day-to-day business activities between buyers, suppliers and service providers with long working relationships. The amount due to a trade creditor can also be considered as a very short-term business loan.

Business Loan EMI and How to Calculate It

Business Loan EMI

Different types of business loans can be repaid in different ways. One of the easiest ways to repay a business loan is through Equated Monthly Instalments (EMIs). Your loan is divided into equal fixed sums that are paid on a monthly basis till the full repayment of the loan. 

An EMI consists of two parts, the principal loan amount and the accrued interest. Small and medium businesses find it easier to repay business loans with EMIs, as the method allows them to fund expensive assets and expansions without straining their smaller operating budgets. 

NBFC loan providers like Lendingkart offer flexible business loan EMIs that can help you repay a business loan two-times faster by opting for bi-weekly repayments. With auto-renewal also on offer by Lendingkart, faster repayments mean quicker access to refinance for the same amount or a larger business loan.

How to Calculate Business Loan EMI?

The Business Loan EMI calculation is done on the basis of a simple formula i.e.
E = P x r x (1+r)n/(1+r)n-1
Here,
‘E’ is the EMI
‘P’ represents the loan amount
‘r’ stands for the interest rate offered on a monthly basis
‘n’ is the duration of the loan

A business loan EMI calculator is a digital version of this formula, that allows you to calculate EMI amount through a web interface. The business loan EMI calculator can help you understand the breakdown of interest and principal loan amount, thus, allowing you to decide the layout of your cash resource planning.

Do’s and don’t’s of Business loans

A business loan can be a great source of capital for the growth of your venture, but, it can also be a path to ruin if you do not plan certain aspects with care. SME loans tend to have a shorter repayment cycle, which means applying for too high a loan amount will inadvertently increase your EMI amount. 

If your business runs into a period of low sales or your invoices get delayed, servicing the loan can become difficult and cause a debt pileup. Therefore, there are some things you should consider before applying for a business loan.

Have you explored all other options for managing your Business?

When you go for a business loan, it is because you need capital to fund a critical task. However, a business loan is not the only way to fund your working capital needs, asset acquisition or new business unit. You can also get the necessary investment by adopting cost reduction mechanisms, increasing production and sales to a limited extent, or by using the money in your contingency fund. 

So, consider all your financial options carefully before applying for a business loan. Sometimes it may turn out that you did not need a business loan at all and have ended up with a commercial debt for no reason.

How do you intend to use the loan money?

Deciding how you are going to use the loan amount beforehand can put your business on the front foot, immediately after you receive the loan funds. The money can go directly into funding critical tasks. You can even pre-empt the operationalisation of your growth plans if you have previous working relationship with the lender.

For example, Lendingkart business loans can be renewed upon full repayment, so, you can start a new project immediately after finishing the current one, as your working relationship with Lendingkart will ensure a renewal. On the other hand, not planning ahead can sometimes lead to wastage of loan funds, as they get used for non-critical tasks. For example, you may end up using your working capital loan money for paying an existing debt or for purchasing plant and machinery, which will then create a void in your working capital funds.

Does it benefit your business?

Lastly, any form of capital investment should benefit your business. If you have a plan for repaying the loan and also have an intended use-case for the loan money, but it is not providing meaningful growth to your operations, you should probably think again about taking a business loan. So, sit with your financial planners, operational heads and other business advisors to chart a strategy for growth before you apply for your first business loan.