Are you going to take a loan from the Finnable app but confused about the interest rate? because many online lenders offer loans at high interest rates. You are not alone, here is the updated Finnable Loan Interest Rate.
What is the current Finnable Personal Loan interest rate, how much interest will you get on the loan, and what factors affect the specific interest rate?
Here. you will find detailed information with a loan calculator to help you estimate your potential EMI (equated monthly installment).
Table of Contents
What is Finnable loan interest rate?
Finnable is a prominent lending company in India that partners with RBI-regulated NBFCs to provide personal loans. As of 2024, the Finnable Personal Loan Interest Rate is typically competitive ranging from 16% to 26% annually (1.3% to 2.3%.per month).
Although Finable charges a processing fee of 3% to 4% on the sanctioned loan amount, this fee is deducted directly from the loan disbursement.
Borrowers can apply for a Finnable Personal Loan without collateral (you do not need to pledge any assets). The Finnable loan application process is risk-free and streamlined with minimal documentation.
Also read: Finnable Partner App List
Finnable Loan EMI Calculator
Finnable Loan EMI Calculator
Your monthly EMI: –
Total Interest: –
Total Principal: –
Total Payment: –
Using this EMI calculator, you can estimate EMI, total payable interest, and total amount payable.
For example, if you apply for a Finable personal loan of Rs 2 lakh at an interest rate of 16% per annum for a tenure of 12 months, you will have to pay Rs 18,146 as EMI every month. If you complete your loan in 12 months, you will be paid a total of Rs 2,17,754, which includes Rs 17,754 interest and Rs 200000 principal amount.
Also read: is Finnable RBI approved or not?
What affects the Finnable loan interest rate?
Several factors can affect the interest rate of a Finnable personal loan. Understanding these factors can help you get the best possible rates.
- Credit Score: A credit score of 750 or above is excellent.
- Loan Amount: A higher loan amount can affect
- Loan Tenure: Long tenure can affect
- Repayment Schedule: Repayment frequency can affect
Conclusion – Finnable personal loan interest rate
Finnable personal loan interest rates are competitive at 16% to 26% annually (1.3% to 2.3%.per month) compared to many online lenders. Maintain a high credit score, choose the optimal loan amount and tenure, and set a consistent repayment schedule to get a loan from Finnable at a competitive and affordable interest rate.
Finnable is the best instant personal loan app in India with no hidden charges and 100% transparency. Apply for a personal loan up to Rs.10 lakh at a competitive interest rate.
Finnable website: click here
Finnable app: click here