We often need an Instant loan in difficult times, in such a situation, Fino Payment Bank Loan service can be beneficial for us.
They have tied up with many NBFC (Non-Banking Financial Companies) merchants, through which it provides us with Business, Working Capital, Personal, and Gold loans.
If you need a loan, you can get a personal loan through Fino Payment Bank partner NBFC – you can apply online and use the money to meet almost any expense.
We will tell you about the features, benefits, and charges of this loan and will also tell you what interest rate will have to be paid on Fino Payment Bank Personal Loan.
Fino Payment Bank Loan Apply Online
| Interest Rate | Competitive Interest rate starting from 1.5% per month. |
| Loan Amount | ₹10,000 to ₹50 Lakhs |
| Tenure | Up to 24 months |
| Age | Between 21 to 58 years |
| Fino Bank Customer Care Number | 022 6868 1414 |
About Fino Payment Bank
Fino Payments Bank is a digital bank established on 4 April 2017. This Bank provides many facilities to its customers, of which a savings account is also a facility.
Apart from this, Fino Payment Bank also provides a loan facility to its customers, for which it has tied up with many NBFC merchants. Here, you will avail of Business, Personal, and Gold loans.
If you apply for a loan in Fino Payment Bank, you can get a loan ranging from Rs 10,000 to Rs 50 lakhs at a competitive interest rate starting from 1.5% to 2.5% per month, and you will have 12 to 24 months to repay the loan.
It has many other benefits, which we will talk about further.
Features and Benefits of Fino Payment Bank Loan
Digital Loan: While the entire process of applying for the loan is digital, you do not need to provide any documents manually, and you can easily apply for this loan online.
Unsecured Loan: You do not need to pledge any collateral to get this loan. It is an unsecured loan that you can use according to your needs.
Loan Amount: Under Fino Payment Bank Loan Service, it provides you loans ranging from Rs 10000 to Rs 50 lakh. If you require a loan, you can apply for business, personal, and gold loans from here.
Interest Rates: Fino Payment Bank charges very reasonable interest rates for its loans. If you apply for a loan, you will get the loan at an interest rate of 1.5% to 2.5% per month.
Repayment: You have a flexible repayment period of 12 to 24 months. This means you can clear your loan in just 2 years and improve your credit score.
Multiple Loan Options: Fino Payment Bank offers you a range of loan products such as Business loans, Working Capital loans, Gold, and Personal Loan on a single platform. You can get an instant loan for many purposes you want.
Eligibility Criteria for Fino Payment Bank Loan
Before applying for the loan, you need to understand the eligibility criteria. If you follow the eligibility criteria, then you can get the loan:
- The person must be a citizen of India.
- The age of the borrower should be between 21 to 58 years.
- To take a loan, the CIBIL score of the borrower should be above 700.
- Must have a minimum of 3 years of experience in your current job or business.
- You must have a source of monthly income from which you earn at least Rs 25000 monthly.
Document Required for Fino Payment Bank Loan
Fino Payment Bank requires some essential documents that, you must have while applying for a loan.
- PAN Card
- Aadhar Card
- Identity Proof: Any documents – PAN Card, Aadhar Card, voter’s ID Card, and Driving Licence.
- Address Proof: Any documents – Aadhar Card, Passport, Voter ID Card.
- Income Proof: Last 3-year bank statement, Income Tax Return, and Latest 3-months Salary Slip.
- For Business Loan: Last 3-year Balance sheet, Income Tax Return with Computation Chart, Registration Certificate, etc.
How To Apply for a Fino Payment Bank Loan?
Applying for a Fino Payment Bank Loan is easy, you can apply for this loan by following some easy steps.
- First, you have to install the Fino Mitra app on your mobile.
- Register in the app using your mobile number and email ID.
- You have to choose the personal loan option, and their form will open in front of you.
- Enter your personal information as per your PAN card, like your name, father’s name, and date of birth.
- Now you upload documents like PAN, Aadhar Card, and bank passbook or canceled cheque.
- Click on the Apply Now button, and your loan process will start.
- If you get loan approval, the loan amount will be transferred to your bank account within 24 to 72 hours.
Business Loan Apply Online: If you want a business or working capital loan, you can apply online through the Fino Payments Bank website, fill in your personal and work information, and upload the required documents.
Gold Loan Apply Online: You can apply for a gold loan through an assisted channel application, where Fino Payment Bank acts as the referrer to the partner NBFC.
To avail of the loan, you pledge your gold items or jewelry as collateral. The loan amount is based on the current market price and quality of gold.
These options are available to Fino BC merchants who have partnered with Fino Payment Bank’s partner NBFC.
Fino Payments Bank Customer Care
If you face any problem in taking the loan and want more information related to it, then you can contact the customer care number of Fino Payment Bank on 022 6868 1414.
Email ID: [email protected]
Conclusion
Fino Payments Bank is primarily a digital service provider. It provides services across 90% of India. It includes savings accounts, credit cards, insurance, and other services.
Fino Bank also provides loan services to its customers, but to do this, it has tied up with some NBFC partners through which it provides business, gold, and personal loan services to its customers.
If you want to take a Fino Payment Bank Loan, you can apply for this loan through the Fino Mitra mobile app. While applying for the loan, you read the terms and conditions of the company and apply for the loan only after agreeing to them.
FAQs Related to Fino Payment Bank Loan
Is Fino Bank approved by RBI?
FINO Payments Bank Limited has commenced operations as a Payments Bank from June 30, 2017. The Reserve Bank has issued a license to the bank under Section 22(1) of the Banking Regulation Act, 1949 to carry on the business of payments banks.
How long does it take to get a Fino Payment Bank loan?
The loan processing time depends on the type of loan and the partner NBFC that provides the loan. Generally, it may take a few hours to a few days to get a Fino Payment Bank loan, depending on the verification and approval process. You can track the status of your loan application online or through the FinoPay mobile app.
What are the interest rates and charges for Fino Payment Bank Loan?
The interest rates and charges for Fino Payment Bank loans are determined by the partner NBFC providing the loan. Fino Bank acts as a referrer and does not charge any fees for its loan referral services. You can contact the partner NBFC for more information about loan interest rates and charges.
