Flocred

Flocred is the go-to personal loan app for salaried professionals. Our online loan app offers personal loans from ₹1,000 to ₹4,00,000 with instant disbursal to your bank account.


You can now apply for a personal loan within minutes with Flocred’s intelligent, intuitive, hassle-free, and easy loan. So, download the Flocred personal loan app today and enjoy a better borrowing experience.


Features of Flocred – Personal Loan App:


• Personal loans ranging from ₹1,000 - ₹10,00,000 without any guarantors or collaterals

• Quick and hassle-free loan application process

• 100% paperless loan application

• Repayment period > 3 months

• Zero foreclosure charges

• Enjoy online shopping at no cost EMI*

• Instant disbursal of the loan amount to your bank account

• Loan repayment through various payment methods


Flocred Products

• Instant Personal Loan

Flocred offers instant personal loans for all your needs! Choose from a range of online personal loans like car loans, home renovation loans, emergency loans, education loans, mobile loans, marriage loans, etc., with a tenure ranging from 3 months to 18 months.

• Flocred Credit Line

One approval, multiple loans. Use the Flocred app to apply for a credit line for a tenure of 1 year with minimal documentation and avail of short-term loans for emergency and shopping needs.


Personal Loan Eligibility:


• Salaried professional above 21 years of age
• Minimum net take-home monthly salary of ₹12,000

• Salary must be credited through direct bank transfer only


How to Apply For a Personal Loan Online on Flocred?


• Download the Flocred app.

• Log in and register using your Mobile number.

• Enter all the necessary personal details to check your personal loan eligibility.

• Submit the KYC documents and apply for an instant personal loan.

• Once your loan application is approved, your loan amount will be transferred directly to your bank account.


Documents required to apply for a loan:


• PAN Card

• Identity proof (Driving License/Voter ID/Passport/Aadhaar Card)

• Address proof (Driving License/Voter ID/Passport/Aadhaar Card/Utility Bills)

• 3-month bank statements showing salary credit

• Aadhaar card (Optional)

• Selfie


Interest, tenures, and other specifications


• Annual Percentage Rate (APR) – 30.42%

• Maximum Annual Percentage Rate (APR) – 35.8%

• Repayment Tenure: 3 months to 18 months

• Processing fee: 1.5% to 3%


Sample Loan Calculation


Loan amount: ₹30,000 at a fixed interest rate of 30.42% p.a

The APR of the Loan is 34.70%

Loan duration: 1 Year

Total personal loan interest = ₹ 9,126

Processing fees (PF) + GST = ₹750 + ₹135 (GST) = ₹ 885

Other deductibles = ₹ 200 (Gateway fees)+ ₹ 200 (Documents Charges) = ₹ 400

Total deductibles (PF + GST): ₹ 1285

In-hand amount (Loan amount - Total deductibles) = ₹ 30,000 - ₹ 1285 = ₹ 28,715

Total repayable amount (Loan amount + interest): ₹ 39,126

Monthly EMI repayable (Loan amount + interest / No of EMI’s): ₹ 3,260.5

(Note: PF, Other deductibles and GST are deducted upfront during the loan disbursal.)


NBFCs/Banks we have partnered with:


• SATSAI FINLEASE PVT LTD
(https://satsaifinlease.com/our_partners.html)



Data Security via Secure Loan Application

At Flocred, we adhere to RBI’s Fair Practice Code. We are committed to promoting best practices in digital lending. Your data is safe with us. All Flocred transactions are secured via 128-bit SSL encryption.

Contact Us:

Email us at info@flocred.com for help or other details about our loans.