Instant ₹1 Lakh Personal Loan Online
Whether you have planned purchases that cannot fit your budget or unexpected expenses like medical emergencies or car repairs, getting out of it can be tricky, especially when facing a financial crisis. If you need an instant loan of ₹1 Lakh, Freo can help you! Our unsecured personal loan allows you to take out a loan of up to ₹5 Lakh from your approved credit limit, and spend it however and whenever you want!
There are plenty of things you can do and buy with the help of a ₹1 Lakh personal loan in India. Here is a list of some of them:
Electronic Items
You can get your hands on the best electronic items like mobile phones, laptops, washing machines, television, dishwasher and more from brands within ₹1 Lakh.
Splurge on Your Big Wedding Day
Everyone has dreamt about a lavish wedding at some point in their lives. But don't let lack of funds be a roadblock to living your dream. If you have fallen short on funds to buy that expensive bridal outfit, a ₹1 Lakh personal loan can help you get it.
Down Payment for a Home Purchase
Buying a new home is one of the most exciting experiences. While buying your dream home under ₹1 Lakh might not be possible, a personal loan of the same amount can help you make its down payment!
Down Payment for a Car Purchase
If you are thinking of getting a brand-new car that you can call your own, getting a ₹1 Lakh personal loan can assist you in making its down payment.
Business Expenses
Home Upgradation
Features and Benefits of Freo ₹1 Lakh Instant Loan
Get Instant Approval
Getting a ₹1 Lakh personal loan from Freo is easy and gets approved within 4 minutes! The approval process takes place online and requires minimal documentation.
Borrow Amount in Parts
Once you are approved to get a loan, you can borrow from ₹3,000 to ₹5 Lakh any time and pay interest only on the amount you used rather than the entire credit.
Save on interests
Enjoy low-interest rates starting at 1.08% per month charged only on the amount you borrow.
Dual Up as a Credit Card
You can double it up as a credit card by using our complimentary Freo-RBL Credit Card* (valid only for RBL-approved customers) for making online and offline purchases.
Make Flexible Repayments
Typically, our flexible repayment option starts from 2 months up to 36 months. So, choose a repayment window you are comfortable with.
Manage Your Transactions Easily
Downloading the Freo app makes it easier to manage your personal loan without hassles and within the comfort of your home.
How to Apply for Freo ₹1 Lakh Personal Loan?
Eligibility Criteria
Profession – Salaried or Self-Employed
Age – Above 21 years and below 60 years
Minimum Monthly Income – ₹ 20,000
Work Experience – 3 years and above
Credit Score – 650 and above
Must be a resident of one of the following cities:
Required Documents
Pan Card Number
Professional Selfie
To be taken on the Freo App
Address Proof
Valid Driving License / Valid Passport / Aadhar Card
ID Proof
Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card
Interest Rates for a ₹1 Lakh Personal Loan
The interest rate you’ll pay on your loan from Freo will be based on your creditworthiness and repayment capacity. Our rates currently range from 13% to 18% per annum. Once your loan of ₹1 Lakh has been approved, you’ll be able to see the interest rate offered to you and the monthly EMI amount you need to make towards repayment of the borrowed amount.
