Launches lowest-ever interest rate for unsecured loans in the country

Faircent.com has announced a reduction in interest rate to 9.99% per annum on unsecured loans for credit-worthy borrowers. This latest development underscores Faircent.com’s, India’s largest peer-to-peer lending platform and NBFC-P2P, commitment to making credit affordable and accessible for Indians. The new loan product has been launched at the lowest interest rate so far, not only in the P2P lending sector, but also for unsecured loans offered by the private banking sector. The announcement further highlights Faircent.com’s leadership position in the alternative lending segment of online P2P lending along with its highly consumer-centric approach.

Commenting on the announcement, Vinay Mathews, Founder & COO – Faircent.com said, “As a pioneer in the P2P lending industry, Faircent.com has been committed to the goal of financial inclusion since its inception. To this end, it has been connecting borrowers from various segments with affordable credit in a quick and hassle-free manner through the use of cutting-edge technologies. We are confident that this new loan product at the lowest interest rate ever will have a significant impact on the overall lending sector by putting downward pressure on personal loan rates and will help consumers and MSMEs access funds at a much lower cost to meet their credit requirements.”  

Source: Hindustan 

In May 2018, Faircent.com became India’s first P2P lending platform to receive the Certificate of Registration (CoR) as an NBFC-P2P from the RBI. Early this year, it became the first NBFC-P2P to open its API platform to developers and recently, integrated UPI with its payment gateway on the Lender dashboard, providing yet another layer of convenience to investors when transacting on the platform

Catch full coverage:

https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/faircent-com-drops-prime-lending-rates-by-200bps-to-9-99-p-a-for-unsecured-loans/articleshow/65960695.cms

https://www.thehindubusinessline.com/news/p2p-lending-firm-faircent-slashes-interest-rates-to-99/article25041426.ece

https://www.patrika.com/latest-corporate-news/faircent-reduced-interest-rate-9-99-pc-will-get-the-personal-loan-3469750/

https://money.bhaskar.com/news/MON-ECN-BANK-UTLT-faircent-offers-personal-loan-on-the-interest-rate-of-9-5961990-NOR.html