LoanFront - Quick Personal Loan EMIs

LoanFront - Personal Loan EMIs is a single point App (Powered by our RBI Registered NBFC Vaibhav Vyapaar Private Ltd) that helps customers get quick, easy personal loan in EMIs, starting from amounts as small as ₹2000 and going right up to ₹2 lakhs.

Loan Types:

Flexi Personal Loan - A flexible loan option where you can avail loans within 10 minutes as direct bank transfer. All you need is your PAN Card & Address Proof to avail ₹2,000 to ₹25,000 for a tenure ranging from 62 days to 3 months.

Personal Loan for Salaried - A personal loan option where you can avail amounts from ₹5,000 to ₹2 Lakhs as direct bank transfer for tenure ranging from 3 to 6 months. All you need is your PAN Card, Address Proof and Salary Proof.


Product(s) Introduction:
Loan Amount range: ₹2,000 to ₹200,000
Interest rates: From 12% to 35% per annum
Loan Tenure: 62 days to 6 months
Technology and other related fees: from ₹100 to ₹2500 max.


Loan Eligibility Criteria:
Indian Citizens, over 21 years of age and having a stable monthly source of income of above ₹15000 per month.

Amount, Tenure, Fees & Charges:
Loan Amount range: ₹2,000 to ₹200,000
Interest rates: From 12% to 35% per annum
Loan Tenure: 62 days to 6 months
Technology and other related fees: from ₹100 to ₹2500 max.

Interest rates range from 12%-35% with equivalent monthly interest rate of 1%-2.9% only.
A small processing fee is charged for loans e.g. for low risk customers 2% - 5% of the principal, for very high-risk customers 6% - 8%*.
LoanFront charges one-time registration fee while onboarding the customers which is ₹100-₹500 depending on the product and the risk profile.

Personal Loan amount (₹2,000 - ₹200,000), interest rate (12% to 35% per annum), fee (₹100 to ₹2500) and tenure (62 days to 180 days) will vary depending on the Risk, Credit underwriting, repayment ability and behaviour of the user on the platform.

*Penalty is charged only when someone delays their scheduled payment.

The APR for different products,loantypes are separate as per the risk profile of the customers. The APR for different personal loan products: low risk customers is 20%-32%, medium risk customers is 30%-40%, high risk customers is 36%-45% and very high-risk customers is 42%-70%.


Representative Example: Flexi Personal Loan

Loan amount: ₹12,000
Tenure: 3 months
Interest Rate: 27% per annum
Processing Fee: ₹690 (5.75%)
New customer onboarding Fee: ₹100
GST on Processing and Onboarding Fees: ₹142
Total Interest: ₹544
EMI: ₹4,181
APR: 45%
Loan amount is ₹12,000. Disbursed amount is ₹11,068. Total loan repayment amount is ₹12,544
Cost of the Loan is ₹1476 including the applicable Govt taxes


Representative Example : Personal loan for salaried

Loan amount: ₹20,000
Tenure: 6 months
Interest Rate: 25% per annum
Processing Fee: ₹1000 ( 5% )
New customer onboarding Fee: ₹200
GST on Processing Fees: ₹216
Total Interest: ₹1,483
EMI: ₹3,581
APR: 27 %
Loan amount is ₹20,000. Disbursed amount is ₹18,584. Total loan repayment amount is ₹21,483
Cost of the Loan is ₹2899 including the applicable Govt taxes


Why Loanfront
Our App is for an easy & quick personal loan & is digitally driven from end to end for maximum efficiency. This gives us the potential to offer an unbelievable speed of delivery. We also ensure customers peace of mind with transparency at every step through various communications.

Security:
All the transactions are secured via a 256-bit SSL encryption. Your data is totally safe with us.


All we need from you are:
- A selfie
- PAN card
- One government ID for Address Proof
- Salary/Income proof

How does it work?
1.Update your details
2.Check your eligibility
3.Choose your loan

For queries, contact our customer support for assistance.
Working Hours: 9 am - 7 pm (Monday to Saturday)
Mail: support@loanfront.in
Call: 080 4812 6351

Recent changes:
• All New Products for Salaried customers with higher Credit and longer tenure
• Revise Eligibility Criteria for better financial inclusion
• Advanced Coupons And Referral system
• Bug Fixes and Improvements