What is FairMoney?
FairMoney is a fast, secure, reliable and free Android mobile app, available in India. We provide easy loans for both salaried & self-employed individuals. To access instant personal loan in minutes:
👉 Download the app
👉 Sign up using your mobile
👉 Provide Aadhaar and PAN numbers
👉 Answer a few questions
👉 Get instant cash loans approved in under 5 minutes!
How to sign up on FairMoney app
– Download the FairMoney Loan App in Google Play Store
– Sign up with your phone number
– Create your secure PIN
– You can now request a loan in the home page
How to apply for a loan
– Click ‘Apply’ on the home page
– Answer a few simple questions
– Verify your identity so that we can give you a loan offer
– Receive a loan offer
– Select amount and period for your loan
– Accept loan offer
– Enter bank details to receive your loan directly to your bank account
Loan Features
Loan amount from ₹1,000 to ₹60,000
Repayment periods from 61 days to 180 days
APR from 12% to 36% per annum
Processing fees range from 3% to 12% (GST 18% applies)
You may be charged up to 0.2% daily late fees for late payments (capped to 18% of principal amount overdue).
No other hidden fees applicable to your loans!
Loan Interest Rates
– Instant personal loans from ₹1,000 up to ₹60,000
– Repayment periods between 61 days – 180 days
– Annual interest rates range from 12% to 36% per annum
Loan Interest Calculation
Borrow ₹5,000 at an APR of 24% (per annum) with tenure of 61 days
Interest = ₹5,000 x 24%/365 x 60 = ₹200
Processing fee = ₹5,000 x 5% = ₹250 (on which GST apply of ₹45)
Total cost of the loan = ₹450
Total amount disbursed will be ₹4,705 (₹5,000 – ₹295)
Total amount to repay will be ₹5,200 (₹5,000 + ₹200)
Two monthly repayments of ₹2,600
Contacts
Email :[email protected] from 9am-5pm every Mon-Fri.
You can learn more about loan apps in Kenya on this website
