FriendLoan – India’s Fastest FinTech lending company.

FriendLoan is an instant personal loan app. It is a cutting edge fintech product for short term loans to salaried and self-employed individuals. It is easy to use and the credit scoring is based on FriendLoan’s revolutionary machine learning algorithm, Socrates. It evaluates the credit worthiness of the applicant in real time and helps with a credit decision in seconds.


  • No paper work for supported banks
  • Loan approval in 1 minute after providing required details.
  • Money credited directly to your bank account in few minutes


  • PAN card
  • Net banking access to your bank account to which loan will be disbursed and EMI collected from.
  • Address proof

First time borrowers get loans from Rs.3,500 – Rs. 50,000 for a tenure of 1, 3 or 6 months. Repeat customers get loans up to Rs.1,00,000 for up to 12 months based on previous payment record.

All loans will be provided through RBI registered NBFC Sampathi Credits Pvt. Ltd. FriendLoan Technologies Pvt. Ltd. is the sourcing and customer interfacing partner for Sampathi Credits Private Limited.

Borrowing Process

Step Who Action
1 Borrower Install App

Upload bank statement

Take photo of PAN image, selfie

2 FriendLoan Do verification and generate credit score.
3 FriendLoan If approved, Provide user with various options for loan amount and tenure
4 Borrower Choose the suitable loan

Create mandate for EMI repayment

5 FriendLoan Call customer for tele verification and disburse money instantly

Repayment Process (every month)

Step Who Action
1 FriendLoan Automatically debit EMI from customer’s given bank account
 2 Borrower If EMI deduction fails due to insufficient balance or other reason,

Customer can pay from the APP itself to avoid penal charges.


Processing Fee

2% of loan amount or Rs.500 – Whichever is higher

This amount is INCLUSIVE of GST. So customer doesn’t have to pay extra tax

Foreclosure charges Will be defined in the loan agreement
Cheque / Mandate dishonour charge Rs.250 INCLUSIVE of GST; unless a different value is specified in your loan agreement.