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| EarlySalary (Fibe) Personal Loan Highlights | |
| Interest rate | 16% p.a. onwards on reduced balance basis |
| Loan amount | Up to Rs 5 lakh |
| Repayment tenure | 3 months to 3 years |
| Processing Fees | Starting from 2% of the loan amount + GST |
| Foreclosure Charges | Nil |
Note: Rates as of 20 Dec 2024
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Table of Contents
EarlySalary (Fibe) Personal Loan Interest Rate
EarlySalary offers interest rates on personal loans based on customer profile and eligibility score. The interest rates for EarlySalary personal loans start from 16% p.a.
Fees and Charges of EarlySalary (Fibe) Personal Loan
- Prepayment charges: NIL
- Bounce Charges: Rs. 500+GST
- Late payment charges: Rs. 500+GST or 3% of the total loan amount, whichever is higher as per the overdue amount
- Stamp Duty: 0.1% of the loan amount
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Types of Fibe Personal Loan
Fibe Instant Cash Loan
- Purpose: Instant cash loan is an unsecured loan, which borrowers can avail to meet their emergency expenses such as home repair, unplanned travel or sudden medical expenses.
- Loan amount: Rs 5,000 to Rs 5 lakh
Fibe Auto Loan
It is a type of personal loan, which borrowers can avail to purchase a two-wheeler or used car.
Types of Fibe Auto Loan
Fibe Two Wheeler Loan
- Purpose: Borrowers can avail Fibe two-wheeler loan to purchase a two-wheeler vehicle
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Used Car Loan
- Purpose: Fibe offers used car loans to help borrowers purchase a used car.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Education Loan
- Purpose: Borrowers can avail Fibe education loan to meet expenses related to their child’s higher education.
- Loan amount: Up to Rs 5 lakh
Fibe Wedding Loan
- Purpose: Fibe offers wedding loans to help borrowers meet their wedding-related expenses.
- Loan amount: Up to Rs 5 lakh
Fibe Home Renovation Loan
- Purpose: Borrowers can avail home renovation loans for meeting expenses related to their home repair or improvement such as painting, tiling and flooring.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Medical Loan
- Purpose: Fibe medical loan is an unsecured personal loan, which borrowers can avail to meet their expenses related to sudden medical emergencies.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Personal Loan for Salaried Professional
- Purpose: Fibe offers an instant personal loan to salaried professionals to meet their emergency expenses related to education, wedding, home renovation, etc.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Personal Loan for Government Employees
- Purpose: Fibe offers an instant personal loan to government employees to meet their urgent cash requirements related to higher education, vacations, debt consolidation, etc.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Consumer Durable Loan
Borrowers can avail Fibe personal loan and its variants to purchase household appliances or tech-gadgets.
Types of Fibe Consumer Durable Loan
Fibe Smart TV Loan
- Purpose: Fibe smart TV loan is an instant personal loan variant, which borrowers can avail to purchase smart TV
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Refrigerator Loan
- Purpose: Borrowers can avail Fibe refrigerator loan to purchase refrigerators.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Washing Machine Loan
- Purpose: Fibe washing machine loan is an instant personal loan variant, which borrowers can avail to purchase washing machines.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe AC Loan
- Purpose: Borrowers can avail Fibe AC loan to purchase air conditioners.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Kitchen Appliances Loan
- Purpose: Fibe kitchen appliances loan is an instant personal loan facility, which borrowers can avail to purchase kitchen appliances such as gas, stove, induction cookers, grinders, etc.
- Loan amount: Rs 8,000 to Rs 5 lakh
Fibe Laptop Loan
- Purpose: Fibe offers laptop loans to help borrowers purchase laptops.
- Loan amount: Rs 8,000 to Rs 5 lakh
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Fibe Personal Loan facilities offered under Employer Tie-up
Fibe offers three credit solutions under the employer tie-up facility wherein the employees can avail credit facility to meet their short-term financial requirements.
- Earned Wage Access: It is a form of salary advance under which employees can withdraw a portion of the accrued income at any time of the month at a nominal fee. Employees can apply via payroll system and get approval within 5 minutes.
- Fibe Shakti: It is a short-term advance to meet the financial needs of blue-collared workers. Under this facility, borrowers can get up to 1.5 times of their salary and repay the amount over a tenure of 3 months.
- Fibe Salary Advance: It is a salary advance loan where borrowers can get amounts of up to Rs 5 lakh and repay the loan between 3 to 24 months. Borrowers can also get a 0.5% reduction benefit on interest rates.
EarlySalary Personal Loan Eligibility Criteria
- Indian resident
- Age: Between 21 and 55 years old
- Salary:
- Minimum salary should be Rs 18,000 (for metro cities)
- Minimum salary should be Rs 15,000 (for non-metro cities)
Documents Required for EarlySalary Personal Loan
- A selfie/passport size photograph
- Identity proof: Passport/Aadhaar card/PAN Card/Driving License
- Address proof: Passport/Rental agreement/Utility bills/Voter ID
- Income proof: Bank statements and salary stubs for the last 3 to 6 months
Note: All the documents required for personal loans should be submitted in PDF format.
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