Prefr Loan App Review | Real or Fake

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.

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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 AppPrefr Loan App
AvailabilityGoogle Play Store
Loan Amount RangeFrom 10,000 to 3 lakh rupees
Tenure6 months to 3 years
Required Documents– PAN card
– Aadhar card
– 3 months’ bank details
Landing PartnersAll landing partners are registered with the Reserve Bank of India (RBI)
Interest RatesMonthly: 1.5% to 3%, Annual: 18% to 36%
Processing FeeBetween 3% to 5% with GST
EMI Overdue Charges350 rupees plus GST plus 3% of overdue EMI
Foreclosure Charges5,000 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%
ReviewPrefr 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

  • You must be a resident of India.
  • Your age must be above 18 years and there is no maximum age limit.
  • It provides personal loans to salaried persons with a minimum income of 15 to 20 thousand rupees.
  • It provides term loans to self-employed persons with a minimum income of 15 to 20 thousand rupees.
  • You must have a PAN card, aadhar card, 3 months’ salary slip, and 3 months bank details.

Features of Prefr Loan App

  • Tenure between 6 months to 3 years.
  • Easy to apply.
  • Suitable interest rate.
  • No paperwork.
  • Instant Loan Application.

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:

  • Download the Prefr Loan App from the Google Play Store.
  • Go for registration with your mobile number.
  • Add your details and verify them.
  • Select the amount and repayment time.
  • Submit your documents like a PAN card, Adhar card, 3 months’ salary slip, and 3 months’ bank details.
  • After adding information, wait for approval.
  • After that, you will get a loan agreement.
  • Now, the loan will be transferred to your account.

Pros and Cons of Prefr Loan App

PROSCONS
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.

1 thought on “Prefr Loan App Review | Real or Fake”

  1. 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

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