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Why prefer Prefr?
100% Digital
No site/bank visits, and no physical documents needed.
Safe & Secure
We value your privacy!
We will never share your
data externally.
We will never share your
data externally.
Quick Support
Need assistance?
We are just a call away.
We are just a call away.
Get money in 5 mins
1
Check Eligibility
Provide basic information to generate the offer
2
Complete KYC
Click a Selfie and upload your Aadhaar details
3
Cash Loan Disbursed
Your money will be disbursed instantly
Thank you for adding a
The loan process was easy, with no extra paperwork and excellent service.
Sajid Raza
Frequently asked questions
What is Prefr? What kind of loans can I avail from Prefr?
Prefr is an instant loan-providing platform for salaried employees and business individuals. You can apply for a quick loan of up to ₹3 Lakh. Prefr acts as a technology intermediary that facilitates your Loans from regulated and credible lenders.
Trusted by over 1 crore users, we have successfully disbursed over ₹2000 crore.
Trusted by over 1 crore users, we have successfully disbursed over ₹2000 crore.
How can I calculate my repayment?
Let’s say you are a salaried employee and have borrowed ₹1,00,000 @ 18% per annum for 12 months (interest rate on reducing balance method) with a processing fee of 3%.
You would pay:
| Loan Amount | ₹1,00,000 |
| Processing Fee (incl. GST) | ₹3,540 |
| Stamp Duty Charges | ₹275 |
| Actual disbursal amount | ₹96,185 |
| Monthly EMI | ₹9,168 |
| Total Amount Repaid in 12 months | ₹1,10,016 |
Are there any other charges, interests and fees?
Yes, there are certain additional charges, late fees, and bounce charges which are applied as and when applicable.
| Fee and Charges | |
| Bounce charges (inclusive of GST) | ₹350 |
| Penal charges | 3% per month on overdue amount (accrued on a daily basis) |
| Prepayment/Foreclosure charges | 5% of POS + GST (or) If loan is closed within 6 months from the date of disbursement, then interest on loan amount for 6 months plus foreclosure charges will be applicable. |
| Pre-EMI | As applicable |
Can I reach out to you for assistance while applying?
Yes, you certainly can.
Monday to Saturday (10 AM - 6PM)
How do I delete my data from the Prefr app?
You can request for deletion of your data in the following ways:
Prefr App:- Sign in to Prefr app
- Click on Profile section in navigation (bottom right)
- You should see your profile details such as mobile no., address, and DOB
- Below that, you will see two options, one for Data Privacy and for Request Data Deletion
- Click on Request Data Deletion and you will be redirected to the Google form
Webform:
You can directly fill the Google form here.
Email ID:
You can directly contact us on wecare@prefr.com.
Few things to note:
- This data deletion process is only applicable for users who have applied for a loan or created account in Prefr ecosystem through Prefr application hosted on Google Playstore
- The data deletion request will be against the mobile number you provide to us. In case you have applied through multiple mobile numbers, request you to request us to delete data associated with all of those mobile numbers. We use mobile numbers as unique key to delete all data from our database associated with that mobile number
- We will not be able to delete certain data in case your loan is approved/have an outstanding loan/had a loan earlier with us. To read more about this, you can refer to our privacy policy here
- The request for data deletion will delete all your loan application data including consents given for loan application
- The request for data deletion will also delete any data hosted on Prefr app including consents. This will also sign you out from Prefr app
- Once your data is deleted, we will not be able to recover your data. You will be required to create a new account for this
- We inform our third parties including lenders of any data deletion requests logged by you on Prefr. But whether they delete the data or not is subject to the third parties' policies. Please contact these third parties directly through their customer support section
- Once you fill the form, it will take at least 30 days for us to process the request
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Contact us
For enquiries and quick support, reach us at
Monday to Saturday (10 AM - 6PM)
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