About Freecharge Instant Loans & Products

Freecharge is a digital platform that provides financial services including instant loans such as Personal Loans and Buy Now Pay Later option and various other products like a credit card, mutual funds, digital FD, digital gold, free CIBIL score check and much more.

Pay Later and the credit card options allow for flexible payment options, while the gold loan and term insurance offer financial security. The Digital FD provides a safe and convenient way to invest and save money. All these services aim to make life easier by providing you the ability to manage your finances with ease.

Different Lending Products Offered by Freecharge

Personal Loans

Freecharge offers personal loans through its digital platform. These loans are instant and can be availed without any collateral. Customers can apply for personal loans through the Freecharge app and receive the funds directly in their bank accounts. The loan amount and tenure can be customized according to the customer's requirements. Additionally, Freecharge offers competitive interest rates and flexible repayment options for its personal loans.

Buy Now Pay Later

Freecharge's Buy Now Pay Later option allows customers to purchase products and services on credit and pay for them later. This option is available on the Freecharge app and can be used to make purchases at partner merchants. Customers can choose to pay for their purchases in easy monthly installments with interest. The Buy Now Pay Later option is a convenient way to manage expenses and make big-ticket purchases without straining one's finances.

Credit Card

Freecharge offers a credit card with a range of benefits and features. Customers can apply for the Freecharge credit card through the app and receive instant approval. The credit card comes with rewards and cashback offers on various categories such as dining, shopping, and fuel. Customers can also avail of discounts on partner merchants and enjoy zero annual fees. With the Freecharge credit card, customers can manage their expenses and earn rewards on every transaction.

Digital FD

Freecharge offers a digital fixed deposit (FD) product that allows customers to invest their money and earn attractive interest rates. The digital FD can be opened through the Freecharge app and offers flexible tenures and interest rates. Customers can choose to invest their money for a period ranging from 7 days to 10 years and earn interest rates that are higher than regular savings accounts. The digital FD is a safe and secure investment option for customers looking to grow their wealth.

Digital Gold

Freecharge offers customers the option to invest in digital gold through its platform. Customers can buy and sell 24-karat gold through the Freecharge app at live market rates. The digital gold can be purchased in small denominations, making it a convenient investment option for customers. Additionally, the gold purchased through Freecharge is stored in secure vaults, and customers can choose to receive physical delivery of the gold if they wish.

Features of Instant Loans by Freecharge

• Quick disbursal: Loans are approved and disbursed quickly, often in a matter of minutes.

• Easy eligibility criteria: The eligibility criteria for the loan are more lenient compared to traditional loans, making it easier for individuals to apply.

• Flexible repayment options: Repayment options are flexible, allowing for convenient and manageable payment terms.

• Online application: The loan application process is done entirely online, making it accessible and convenient for customers.

• Competitive interest rates: Freecharge offers competitive interest rates on their loans, making them a cost-effective option for individuals in need of financial assistance.

• No collateral: Instant loans by Freecharge do not require collateral, making them accessible for individuals without assets to secure a loan.

• Digital process: The entire loan process, from application to repayment, is done digitally, eliminating the need for in-person visits to a bank or financial institution.

Lending Partner

How to apply for instant loans online using Freecharge?

Buy now pay later!

• Download the Freecharge app or visit the website.
• Create your Freecharge account or log in to your existing account.
• Select the “Instant Loan” option from the homepage.
• Choose 'pay later' option.
• Fill out the application form with the required personal and financial information like Aadhar, PAN Card, and so on.
• Submit the application and get an approval decision within seconds.

Personal loans

• Download the Freecharge app or visit the website.
• Create your Freecharge account or log in to your existing account.
• Select the “Instant Loan” option from the homepage.
• Choose 'personal loan' option.
• Fill out the application form with the required personal and financial information like Aadhar, PAN Card, and so on.
• Submit the application and get an approval decision within seconds.

Credit card

• Download the Freecharge app or visit the website.
• Create your Freecharge account or log in to your existing account.
• Select the “Instant Loan” option from the homepage.
• Choose 'credit card' option.
• Fill out the application form with the required personal and financial information like Aadhar, PAN Card, and so on.
• Submit the application and get an approval decision within seconds.

Gold Loan

• Download the Freecharge app or visit the website.
• Create your Freecharge account or log in to your existing account.
• Select the “Instant Loan” option from the homepage.
• Choose 'gold loan' option.
• Fill out the application form with the required personal and financial information like Aadhar, PAN Card, and so on.
• Submit the application and get an approval decision within seconds.

CIBIL Score check

The CIBIL score is a credit score that reflects an individual's creditworthiness. A high CIBIL score can help individuals secure loans and credit cards with favorable terms and interest rates. Through the Freecharge app, customers can check their CIBIL score for free and receive tips on how to improve their score. This service helps customers stay informed about their creditworthiness and make informed financial decisions.

What is a good credit score to get an online personal loan instantly?

A good credit score for obtaining an online personal loan instantly can vary depending on the loan provider's policies. However, a score of 720 or above is generally considered a good credit score by most lenders in India.

A high credit score indicates a good track record of managing debt and repaying loans, making an individual a more attractive candidate for a loan. It's important to note that other factors, such as income, employment status, and the loan amount requested, also impact loan approval, regardless of credit score.

A high credit score may increase the chances of approval and better loan terms, but it is not guaranteed. It's always a good idea to check the specific loan provider's criteria and requirements before online loans apply.

Documentation Required for Instant Personal Loan

Identity Proof

A government issued ID proof such as PAN card, and Aadhaar card.

Charge & Fees on online Instant Loans on Freecharge

Charges Description	Fees / Charges
Processing fees (Non-Refundable)	Upto 3.5% of Loan Amount
Stamp Duty	At Actuals
EMI Return	Upto INR 400/- per EMI bounce
Cheque/ECS Swap	Upto INR 500/- per transaction [Mandate swap from another bank to IDFC FIRST Bank - Nil]
EMI Pickup/Collection Charge	Upto INR 500/-
Duplicate NOC	Upto INR 500/- per instance
Physical Statement of Account/Repayment Schedule	Upto INR 500/- per statement
Foreclosure	Upto 5% of Principal loan outstanding after payment of 6 or more EMIs
Document retrieval charges (per retrieval)	Upto INR 500/- per instance
Part Payment Charges (only for Smart PL)	2% fee for partial payments with borrower's funds. Not available for Simple or Pre-approved Personal Loans.
Loan Cancellation	Loan cancellation fee within 30 days of booking or 1st EMI date: 1% of loan amount + interest. For pre-approved loans, it's free within 15 days. After 15 days, it's a 5% foreclosure fee.
Late payment/Penal charges/ Default interest/Overdue (per month)	Upto 2% of the unpaid EMI or Upto INR 300, whichever is higher

What are the types of Personal Loans?

1. Unsecured personal loans - these don't require collateral and are based on the borrower's creditworthiness and income.
2. Buy now pay later- with buy now pay later option customers can do shopping and purchasing instantly while paying later with minimum interest rates.
3. Secured personal loans require collateral, such as a car or a house, to secure the loan.
4. Debt consolidation loans - these are used to pay off multiple debts, such as credit card balances, into one single loan.
5. Emergency loans - these are designed for unexpected expenses, such as medical bills or home repairs.
6. Personal line of credit - this loan allows the borrower to access funds up to a certain limit as needed.
7. Payday loans are short-term loans with high-interest rates, designed for those who need quick cash between paychecks.
8. Installment loans - these are loans that are repaid over time with fixed monthly payments.
9. Wedding loans are personal loans specifically designed to finance wedding expenses.

Freecharge Instant Loans And Credit Line Products For Your Every Need

Freecharge is a digital payment platform in India that offers customers instant loans and credit line products. The exact type of loans and credit products available through Freecharge may vary, but they typically include personal loans, short-term loans, and Buy now Pay later (BNPL). These financial products can be used for various purposes, such as emergencies, and everyday expenses upto a limit of ₹60,000.

Freecharge uses advanced technology to quickly assess a customer's creditworthiness and provide loan approval within minutes. The platform also provides customers with convenient repayment options and flexible loan terms.

What Can You Do with Personal Loan Money?

1. Home Improvements - Renovate your home, add an addition, or make other updates.
2. Major Purchases - Buy a car, pay for a wedding, or finance a family vacation.
3. Medical Expenses - Cover the cost of medical procedures, treatments, or surgeries.
4. Business Expenses - Fund a small business, purchase inventory, or make equipment upgrades.
5. Education Expenses - Pay for college tuition, student loans, or other expenses.
6. Emergency Expenses - Cover unexpected expenses, such as home or car repairs, legal fees, or funeral costs.
7. Debt Consolidation - Pay off high-interest credit card balances, medical bills, or other debt.
8. Something on everyday expenses- Get your everyday life sorted with personal loans including BNPL facilities.

Benefits Of Taking Instant Personal Loans and Credit Products From Freecharge

1. Convenience: Freecharge allows customers to apply for instant loans and credit products through its platform, which makes the process quick and easy.
2. Speed: Freecharge's technology allows for loan approvals to be processed within minutes, which provides customers with fast access to funds.
3. Flexibility: Freecharge offers a range of loan and credit products, allowing customers to choose the best option for their financial needs.
4. Competitive Interest Rates: Freecharge's loans and credit products may have competitive interest rates, which can save customers money in the long run.
5. No Collateral Required: Many of Freecharge's loan products are unsecured, which means customers do not have to put up collateral to get a loan.
6. Repayment Options: Freecharge offers flexible repayment options, which allows customers to choose a plan that works best for their financial situation.
7. Improved Credit Score: Repaying a loan on time and in full can improve a customer's credit score, making it easier to get loans in the future.

Things to Consider before getting Instant personal loan online.

1. Eligibility: Ensure you meet the lender's eligibility criteria, such as minimum income, credit score, and employment history.
2. Interest rate: Compare interest rates and fees from different lenders to find the best deal.
3. Repayment terms: Consider the repayment terms and ensure you can afford the monthly payments before taking out a loan.
4. Loan amount: Only borrow what you need and can afford to repay.
5. Collateral: If the loan requires collateral, consider the risks of putting up your assets.
6. Purpose of loan: Consider why you need the loan and whether it is a financially responsible decision.
7. Prepayment penalties: Find out if there are any prepayment penalties for paying off the loan early.
8. Credit report: Check your credit report to make sure there are no errors and dispute any errors if necessary.

Things to avoid before applying for loans online

1. Applying for multiple loans at once: Multiple loan applications can lower your credit score and make it easier to get approved.
2. Falsifying information: Lying on your loan application is illegal and can result in serious consequences, such as imprisonment or fines.
3. Not comparing loan offers: It's important to compare loan offers from multiple lenders to find the best interest rate and terms.
4. Ignoring fees: Make sure to factor in any fees, such as origination fees or prepayment penalties, when comparing loan offers.
5. Not checking your credit score: Your credit score is a key factor in determining whether you will be approved for a loan and what interest rate you will be offered.
6. Not reading the fine print: Ensure thoroughly read and understand the loan agreement before signing it so you know what you agree to.
7. Not having a repayment plan: Make sure you plan how to repay the loan, including a budget and timeline.

Discover Freecharge Lending Products & Instant Loan Options

Pay later

Credit card

Digital gold

Gold loan

Fixed Deposit

Apply for Instant Loans by installing Freecharge App!

Freecharge is your go-to solution for quick and easy personal loans. Whether you're facing unexpected expenses or need extra cash to pursue your goals, Freecharge has you covered.

Applying for instant loans from FreeCharge, you can access the funds you need in the quickest time possible without having to put up any collateral. At Freecharge, we understand that life can be unpredictable, so we're here to help you stay on track with fast, hassle-free finance solutions.

So, when you're running low on cash, just relax and let Freecharge take care of everything. Download our app now and experience the power of instant loans.

Frequently Asked Questions (FAQs) for Personal Loan