Frequently asked questions
Questions, answered
Common questions about FriendLoan, the application process, EMIs and repayment.
Tell me more about FriendLoan
FriendLoan are business loans. Our loan amounts start from Rs.50,000 and go up to Rs.7,00,000. Interest rates will be disclosed based on your credit assessment.
What is the Interest Rate?
18% to 30% per annum on a reducing balance*
Is FriendLoan Under RBI Guidelines?
Yes, FriendLoan adheres to all RBI Guidelines with Sampathi Credits Private Limited is a subsidiary of FriendLoan Technologies Pvt Ltd through which the loans are processed. We report every transaction with CIBIL and other bureau agencies of India.
How should I Make Payment?
On the EMI Date your EMI will be auto Debited from your Bank Account.
Can I make a Payment Manually?
Yes, You Can Make Payment from FriendLoan App. By clicking on Pay EMI.
How Can I Know my EMI Dates?
You Can Check in FriendLoan App under Repayment.
How Can I Get an NOC?
Once you have Cleared all the Dues NOC will be E-Mailed to your Registered E-Mail Address.
How to Preclose my Loan?
You can Preclose the Loan by making payment to Outstanding Amount.
Can I Reapply for Loan?
Yes you can reapply for Loan after closing all your previous dues if any.
Is Net Banking Mandatory for Application process?
Yes, Due to digital process of loan Net Banking is Mandatory for bank statement verification and mandate verification.
Can I Change the Bank Account after getting Loan?
Need to request a mail to support@friendloan.in with reason for Bank Account Change. Based on Verification the Bank Account can be changed.
Documents Required for Applying?
Phone Number Validation, Photo KYC, AADHAAR Card, PAN Card, Online Bank Statement Upload, Video KYC, Agreement e-sign, Mandate signing.