FintechLow CIBIL OK
Prefr Personal Loan 2026
Interest rate, eligibility, documents & fees
- Interest Rate
- 15%–36%
- Loan Amount
- Up to ₹5 lakh
- Tenure
- 6–36 mo
Prefr Personal Loan — Key Details
Last reviewed August 2026
- Interest rate
- 15% – 36% p.a.
- Loan amount
- ₹25,000 – ₹5 lakh
- Tenure
- 6 – 36 months
- Processing fee
- 2–4%
- Minimum CIBIL score
- 600+
- Minimum monthly income
- ₹18,000
- Age
- 22 – 55 years
- Employment type
- Salaried, Self-Employed, New-to-Credit
Prefr Personal Loan EMI
Monthly EMI at the starting rate of 15% p.a. Your rate may be higher.
| Loan amount | 12 months | 24 months | 36 months |
|---|---|---|---|
| ₹1,00,000 | ₹9,026 | ₹4,849 | ₹3,467 |
| ₹3,00,000 | ₹27,077 | ₹14,546 | ₹10,400 |
| ₹5,00,000 | ₹45,129 | ₹24,243 | ₹17,333 |
Prefr Personal Loan Eligibility
- Age: 22–55 years
- Minimum monthly income: ₹18,000
- CIBIL score ≥ 600 (new-to-credit also considered)
- Valid mobile number linked to Aadhaar
- Active savings/salary bank account
Documents Required for Prefr Personal Loan
Salaried
- PAN Card
- Aadhaar Card
- Last 3 months salary slips or bank statements
- Selfie for video KYC verification
Self-Employed
- PAN Card
- Aadhaar Card
- Last 6 months bank statements
- Business proof (if available)
Pros & Cons
Advantages
- Accepts CIBIL 600+ — among lowest thresholds
- Only 4 documents needed — minimal paperwork
- Video KYC — 100% online, no branch visit
- New-to-credit applicants considered via alternate scoring
- Loan offer in 30 minutes
Watch out for
- High interest rates (15–36%) reflect higher risk
- Small maximum (₹5 lakhs)
- Short tenure — max 36 months
- Processing fee 2–4% is on the higher side
How to Apply for a Prefr Personal Loan
Prefr's own application process
- 1Download the Prefr app or visit their website
- 2Register with your mobile number + OTP
- 3Complete video KYC using Aadhaar OTP
- 4Upload one salary slip or latest bank statement
- 5Receive personalised loan offer in under 30 minutes
- 6Accept offer — disbursement within 24 hours
Not sure Prefr is right for you? Compare offers from RateCut's lending partners first.
Compare OffersPrefr Personal Loan — FAQs
What is the Prefr personal loan interest rate?
Prefr personal loan interest rates range from 15% to 36% p.a. (last reviewed August 2026). The rate you get depends on your credit score, income, employer and loan amount.
What is the minimum salary for a Prefr personal loan?
Prefr requires a minimum monthly income of about ₹18,000. It lends to: Salaried, Self-Employed, New-to-Credit.
What is the processing fee for a Prefr personal loan?
Prefr charges a processing fee of 2–4%, plus 18% GST. It is usually deducted from the loan amount at disbursal.
What CIBIL score is needed for a Prefr personal loan?
Prefr generally looks for a CIBIL score of 600 or more. A score of 750+ improves your chances of getting a lower rate.
How long does Prefr take to disburse a personal loan?
As per Prefr's stated process: Accept offer — disbursement within 24 hours. Existing customers with pre-approved offers are usually faster.
Is Prefr regulated by the RBI?
Prefr is a digital lending platform that lends through RBI-regulated entities and must follow RBI's fair practices and digital lending guidelines.
Compare Prefr with other lenders
Get matched with RBI-registered lenders. Checking offers doesn't affect your CIBIL score.
Figures last reviewed August 2026 and shown for information only. Interest rates, fees and eligibility are set by each lender and depend on your credit profile — confirm the final terms in the lender's Key Fact Statement before you sign. RateCut is a loan marketplace, not a lender.