If you are considering taking a loan from the Fibe app, you have come to the right place. In this article, you will find the Fibe loan review (details).
Fibe is an instant loan app in India (formerly EarlySalary) and is a one-stop solution for your cash needs. It offers instant cash loans up to ₹5 Lakh in just 5 minutes through a 100% digital process.
Here is a detailed review of the Fibe app loan, eligibility criteria, the minimum salary requirement, interest rates, and whether the Fibe loan is a real and safe option for borrowing money.
Table of Contents
Fibe loan review (Loan details)
| Fibe loan | Loan details |
|---|---|
| Fibe Loan limit | Up to ₹5 lakhs |
| Interest Rate | 16% P.A. (reducing balance basis) |
| Processing fees | 2% plus GST |
| Tenure | 3 – 36 months |
| Bounce charges | ₹500 + GST |
| Late payment charges | ₹500 + GST or 3% of the loan amount |
| Stamp duty | 0.1% of the loan amount |
| Pre-closure charges | Nil |
Fibe loan app, formerly known as EarlySalary, is India’s leading digital lending platform that offers a variety of financial products such as personal loans, instant cash loans, and buy now pay later.
Fibe App provides personal loans up to Rs 5 lakh within just 5 minutes and can be applied online through the Fibe app and website.
Fib loans come with a starting interest rate of 16% per annum and a processing fee of 2% plus GST. The repayment period for this loan ranges from 3 to 36 months.
Additional charges for the Fibe loan include bounce charges of ₹500 plus GST, late payment charges of ₹500 plus GST or 3% of the loan amount, a stamp duty of 0.1% of the loan amount, and foreclosure charges Nil.
The Fibe Loan App is 100% secure as it ensures data security with ISO/IEC 27001 certification and PCI DSS compliance.
Fibe Loan App Address: 404, The Chambers Near Ganpati Mandir Chowk (Samrat, Chowk, Viman Nagar Road, Pune, Maharashtra 411014).
Features and Benefits of Fibe App Loan:
- Availability of maximum loan amount
- No restrictions on loan usage
- No need for any collateral loan
- 100% digital loan application
- Affordable interest rates
- Borrow loan multiple times
- Flexible repayment tenure
- Direct cash in the bank account
- Loan approval in less than 10 minutes
- Fibe app is ISO 27001 certified
Fibe loan eligibility criteria:
The eligibility requirements for a Fibe loan are simple. To be eligible for a loan, you need to fulfill some basic criteria:
- Resident of India
- Age: Between 21 and 55 years
- Minimum in-hand salary:
- ₹18,000 for metro city residents
- ₹15,000 for non-metro city residents
- Good credit score: 700 or above
- Employment: Salaried individual in any sector
Fibe loan interest rate & processing fees:
| Fibe Loan | Interest rate & fees |
|---|---|
| Interest Rate | starting from 16% p.a. on reducing balance basis |
| Processing fees | starting from 2% of the loan amount plus GST |
| APR | starting from 18% |
| Bounce charges | ₹500 + GST |
| Late payment charges | ₹500 + GST or 3% of the loan amount |
| Stamp duty | 0.1% of the loan amount |
| Mandate rejection charges | ₹250 + GST |
| Pre-closure charges | Nil |
Fibe personal loan interest is only charged for the days you use the loan amount. If you decide to pay off your loan early, there are no pre-closure fees. There are also no hidden fees and annual or renewal charges for Fibe loans.
Fibe loan interest rate calculator & EMI
Fibe loan EMI Calculator
Your monthly EMI: –
Total Interest: –
Total Principal: –
Total Payment: –
How to take loan from Fibe app?
Applying for a loan with the Fibe app is simple and quick, you can get an online loan in these easy steps:
- Download the Fibe App or Visit the Fibe Website:
Download the Fibe app from the App Store or Google Play Store, or visit the official Fibe website.
- Sign up for a Fibe loan account:
Enter your mobile number, and create an account.
- Fill out the loan application:
Fill in your personal information, including your name, contact details, monthly income, and other necessary information.
- Upload Required Documents for verification:
Upload the required documents to verify your loan application.
- Get Instant Approval within 2 minutes:
Once your documents are uploaded and verified, you will receive five loan approvals within 2 minutes.
- Choose Required Loan Amount:
Choose the loan amount and tenure you wish to borrow.
- Receive loan amount in bank account:
After selecting the desired loan amount, the money will be disbursed to your bank account.
Quick links;
Fibe loan customer care number
- Customer care number: 020-67639797
- Customer care email: [email protected].
Fibe app loan (FAQs)
Is Fibe loan app RBI registered
Fibe app loan RBI approved: Yes, the Fibe loan app is registered with the Reserve Bank of India (RBI) and follows its ethical lending guidelines. Also, the Fibe app has ISO 27001 certification and PCI DSS app-based journey, making it a secure digital lending platform.
Fibe app loan is real or fake
Yes, the Fibe loan app is a trusted lender for instant personal loans, as the Fibe app is PCI-DSS compliant and ISO/IEC 27001 certified.
Is the Fibe loan app safe?
Fibe app loan is safe or not – Fibe is a genuine and secure loan app registered with the Reserve Bank of India. Also, the Fibe has a PCI DSS app-based journey and ISO/IEC 27001 certification to make it a safer loan option.
What is the minimum salary for a FIBE loan?
The minimum monthly salary requirement to be eligible for a Fibe Instant Personal Loan is ₹15,000 for non-metro cities and ₹18,000 for metro cities.
Does Fibe give loans to students?
Yes, Fibe offers loans up to Rs.5 lakh to students for online professional courses at easy EMIs ranging from 3 months to 2 years.
What is the Fibe limit?
Fibe offers personal loans of up to ₹5 lakh.
What is the interest rate of a Fibe loan?
Fibe App Personal Loan interest rates start from 16% per annum (on a reducing balance basis), depending on the borrower’s eligibility and credit score.
What is the tenure of a Fibe loan?
The tenure of Fibe Instant Personal Loan is 3 to 36 months.
What is the age limit for Fibe?
Five offer easy loans to individuals aged between 21 and 55 years. Other eligibility criteria for a Fibe loan include the individual must be:
Resident of India, minimum monthly income ₹15,000 in non-metro cities and ₹18,000 in metro cities, and good credit score.
How much time does Fibe take to approve a loan?
The Fibe app claims to approve the personal loan within 2 minutes and instantly disburse the amount to your bank account.
Can I close a Fibe loan?
Yes, you can close your Fibe loan. There is no need to submit any documents to close the Fibe personal loan, just log in to the Fibe app or website and pay the outstanding principal and interest.
Is Fibe a NBFC?
Yes, the Fibe App is a Non-Banking Financial Company (NBFC) registered by the Reserve Bank of India (RBI).
How to pay Fibe loan EMI online?
To pay Fibe loan EMI online, you can use two simple methods;
Login to the Fibe app or website, select the loan account, enter your EMI amount, choose the payment method, and complete the payment.
OR
Open the third-party payment app (Paytm, PhonePe, or Google Pay), go to the ‘Bills and Payments’ section, select the ‘EMI Payment’ option, select the lender (Fibe), and enter the loan account number, enter the EMI amount, and complete the payment.
In conclusion
In conclusion, the Fibe app is a reliable platform for quick personal loans in India. With a loan limit of up to ₹5 lakh, competitive interest rates starting at 16% per annum, and flexible repayment tenures ranging from 3 to 36 months, Fibe caters to people’s diverse financial needs.
100% digital loan application process, quick approval time, and strong security measures make the Fibe app a safe option for borrowers.
What do you think about the Fibe loan review, Fibe app review, or Fibe app Loan, please tell us in the comment box below.
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