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Prefr is a leading fintech startup in the microlending space. You can easily avail a personal loan of up to ₹5 Lakhs from Prefr Partners at Bajaj MARKETS to fulfil your lifestyle needs or in case you are in urgent need of funds. Apart from attractive interest rates, there are other benefits such as a flexible repayment tenures and a hassle-free application process requiring minimal documentation. Apply for a personal loan from Prefr through Bajaj MARKETS.

Features and Benefits of Prefr Personal Loans

  • Flexible Loans: You can avail personal loans of amounts ranging from ₹1 Lakh to ₹5 Lakhs from Prefr partners. Thanks to such flexibility, meeting your needs and requirements is now easier than ever.

  • Customisable Repayment Options: Personal loans by Prefr partners also allow you to choose the tenure according to your repayment capacity. You can opt for a tenure ranging from 12 months to 72 months (6 years).

  • Lightning-Fast Approvals: You don’t have to wait for days for approval anymore. With the Prefr personal loan, you can get approvals within minutes! The turnaround time for disbursal is also the best in class.

  • No Collateral Needed: Prefr online personal loan is unsecured. This effectively means that you do not have to pledge any of your assets to secure the loan.

  • Attractive Interest Rates: The interest rates on Prefr personal loans are some of the lowest in the industry. In fact, Prefr personal loan interest rates start from as low as 10% per annum.

  • Easy Application Process: At Bajaj MARKETS, you can apply for a Prefr personal loan within just a few minutes with minimal documentation.

Prefr Personal Loan Interest Rates and Charges

The table below summarises the interest rate and various other charges applicable on Prefr personal loans:

 

Interest rate

10% to 16% per annum

Processing fees

3% to 5% of the loan amount, subject to a minimum of ₹1,500 (plus GST)

Charges for foreclosure of loan

4% of the outstanding amount (plus GST). Foreclosure is allowed only after payment of at least 3 instalments.

 

Disclaimer: Interest rate and other changes may change. Please confirm with the lender before applying.

Prefr Personal Loans Eligibility Criteria

  • The age of the applicant must be between 22 and 60 years.

  • The applicant must be a salaried individual working either in the public sector or at a private limited company.

  • The applicant must be earning a minimum net monthly income of ₹20,000 if residing in a tier-1 city and ₹15,000 if living in tier-2 or tier-3 city.

Documents Required for Prefr Personal Loans

You will need to furnish the following documents while applying for a Prefr personal loan:

  • Identity Proof: Voter’s ID, Aadhaar card, PAN card, passport etc.

  • Address Proof: Aadhaar card, driving licence, Voter’s ID, passport, utility bills, rent agreement, etc.

  • Proof of Income: Latest salary slips (usually last three months’ salary slips are required) or income tax return certificate or latest Form 16

Prefr Personal Loans EMI Calculation

The EMI that you will be paying to Prefr for your personal loan depends upon the principal amount borrowed, the rate of interest applicable and the tenure of the loan. The following formula might come in handy for calculating your Prefr personal loan EMIs:

E = P x R x (1+R)^N/ ((1+R)^N-1),

where:

  • E stands for monthly instalment

  • P is the amount that you want to borrow

  • R is the rate of interest

  • N is the loan tenure in months

If this is too much of a hassle for you, you can simply use the free EMI calculator on Bajaj MARKETS to get an estimate of how much you will end up paying every month.

How to Apply for Personal Loan from Prefr Partners

Applying for a Prefr personal loan at Bajaj MARKETS is simple and easy and the entire application process can be completed in minutes. All you must do is follow the steps mentioned below:

  • Fill out the Details: Visit the personal loan page on the Bajaj MARKETS website. Click on “Apply Now” and enter your personal and professional details.

  • Select Your Lending Partner: From the list of personal loan partners, select Prefr.

  • Specify Personal Loan Details: Select the loan amount and repayment tenure as per your requirement.

  • Approval & Disbursal: Depending upon your eligibility, your loan will be approved instantly and the loan amount will also be credited to your bank account within 24 hours.

Prefr Customer Care Details

Prefr offers customer support over telephone and email. You may refer to the table below for details:

Toll-Free Number

70618 79075

Email Address

wecare@prefr.com

Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

FAQs on Prefr Personal Loan

✔️How much time will it take to get my personal loan approved?

If you fulfil the eligibility criteria, your personal loan application is approved almost instantly.

✔️How much time will it take to get the funds in my account?

Once your personal loan application is approved, the amount is disbursed to your bank account within 24 hours.

✔️ Do I need to pledge a collateral in order to get a personal loan from Prefr partners?

Since personal loans are unsecured in nature, you need not pledge any collateral in order to avail one from Prefr partners.