Are you looking for an online loan application from where you can get a loan amount at a very suitable interest rate? Prefr Loan is an online loan application that claims that you can get a loan amount at very low-interest rates.
Review Padho is a genuine platform where you can read trusted reviews about websites and applications. Today I am here to review another loan application that offers you the loan at a very low rate of interest. Before taking a loan from any online application we should learn about all the aspects of that application first. Let’s check whether it is safe or not to take a loan from this application –
Prefr Loan App Details
| Name of the Loan App | Prefr Loan App |
| Availability | Google Play Store |
| Loan Amount Range | From 10,000 to 3 lakh rupees |
| Tenure | 6 months to 3 years |
| Required Documents | – PAN card – Aadhar card – 3 months’ bank details |
| Landing Partners | All landing partners are registered with the Reserve Bank of India (RBI) |
| Interest Rates | Monthly: 1.5% to 3%, Annual: 18% to 36% |
| Processing Fee | Between 3% to 5% with GST |
| EMI Overdue Charges | 350 rupees plus GST plus 3% of overdue EMI |
| Foreclosure Charges | 5,000 for every 50,000 borrowed |
| Pros | – Easy online loan application – All landing partners are RBI registered – Available on Google Play Store |
| Cons | – Interest rates range from 18% to 36% annually – High EMI overdue charges – Processing fee is between 3% to 5% |
| Review | Prefr Loan is a legitimate online loan application providing users with an opportunity to secure loans conveniently. Users should be aware of the relatively high annual interest rates and EMI overdue charges. It is recommended to thoroughly review the terms and conditions before proceeding. |
Prefr Loan is an online loan application that offers you loans from a minimum of 10,000 rupees to a maximum of 3 lakh rupees. It is available on the Google Play Store. Its tenure time is between 6 months to 3 years. If you want to take a loan from this application then you must be above 18 years and you should be an Indian resident. There is no maximum age limit mentioned in this application.
To take a loan from this application, it will ask you for many documents which are a pan card, aadhar card, 3 months’ salary slip, 3 months’ bank details, etc. All the landing partners of this application are RBI registered so it is safer to take a loan from this application.
Its interest rate is 1.5 % to 3% per month of the loan amount, which means its yearly rate of interest is between 18% to 36 %. It processing fee is between 3% to 5% with GST. EMI overdue charges are 350 rupees plus GST plus 3% of overdue EMI. Foreclosure charges for every 50,000 you have to pay 5,000.
Prefr Loan App Eligibility
Features of Prefr Loan App
How to Apply for a Loan in Prefr Loan App?
I will recommend you to get complete details about this application before applying for any loan. Here are some steps to apply for a loan in this application:
Pros and Cons of Prefr Loan App
| PROS | CONS |
|---|---|
| Easy to take a loan online. | The interest rate is between 18 to 36% yearly. |
| All landing partners are RBI registered. | High EMI overdue charges. |
| Available on Google Play Store. | The processing fee is between 3 to 5%. |
Prefr Loan App Review
Prefr is an online loan application that is real and you can take a loan from this application. As we all know are good and bad sides to all loan applications so there can be some problems in this also. After learning all the aspects of this application you can take a loan from this. Also, there are some bad reviews about it online. If there is any user of this application then you can write your experience about it in the review section.
WORST COMPANY SEEN UPTILL NOW,THEY ARE JUST HARASHHING TO TAKE LOANS,CALLING 50 TIMES IN A DAY…TO GIVE LOAN,EVEN THOUGH I TOLD NOT NEEDED…BUT THEY ARE FORCING EACH AND EVERYTIME AND NOT STOPPING….3RD GRADE MANAGEMENT,STAFFS ARE SO POLITE TO TALK BUT SYSTEM IS FULL FAKE.. THEY ARE RUNNING SCAM COMPANY I THINK