A loan to meet all your personal financing needs – be it for funding your next vacation, purchasing a consumer durable / furniture for your house or meeting an immediate medical expense. A personal loan has no restrictions on end-use and comes with easy eligibility criteria and special offers.
Contact your nearest RAR Fincare branch or reach out to us via the website to get your loan in a hassle-free manner and get the competitive edge you need to succeed.
RAR Fincare provides loans to all salaried individuals, and the processes are completely transparent and simple. We rely on your income details for approving loans. Therefore it helps if you share the list of documents detailed in the documentation section.
We request you to visit the nearby RAR Fincare branch or fill out the form so that our representative will reach out to you.
A Personal Loan EMI calculator is a simple tool that calculates the EMI that you are required to pay every month for the repayment of your loan. All you need to do is enter the Loan Amount, Rate of Interest, and the desired Loan Tenure, and the calculator will instantly calculate the EMI Amount and the Interest Payable.
The mandatory set of documents includes identity proof, address proof, signature verification, and photographs.
Past 3 years’ ITR returns are to be submitted
Salary slip for the past 3 months
A certificate from the employer stating your designation and period of employment
Past 12 months’ bank statements as well as Repayment Track Record (RTR) details of existing loans
Our personal loan interest rates are competitive amongst the other players in the industry. Depending on loan eligibility, income and other criteria, we determine the best interest rate for your loan requirement.
When you apply for a Personal Loan with RAR Fincare, you do not have to worry about any hidden charges. Whether it is related to processing fees, foreclosure charges or delayed EMI payments, all information is transparently provided for smooth processing of your loan application.
|Fee & Charges*||Amount|
|Loan processing fee||1% to 3% + Applicable tax|
|Due diligence charges||INR 1000 to INR 2000|
|Initial Money Deposit||INR 3000/- (Non-refundable)|
|Cancellation Charges||INR 5000 or 0.50% of the loan amount, whichever is higher|
|Prepayment Charges Term Loan||Term Loan - 4% of the principal outstanding|
|Foreclosure Charges||4% of the principal outstanding at the time of foreclosure|
|Cheque Bounce Charges||INR 400|
|ECS Failure Charges||INR 400 (To be charged for every instance)|
|Repayment Mode Swap Charges / Swapping Charges (PDC to ECS)||INR 400 (Based on customer request only)|
|Legal verification||At actuals ()|
|Valuation charges||At actuals|
|Stamp Duty/Stamping Charges||At actuals (To be charged as per state stamping law)|
|Mortgage fees||At actuals|
|Franking Charges||At actuals (To be charged on the day of disbursement)|
|Credit Shield||At actuals|
|Fire Insurance premium charges||At actuals (Will vary from application to application. Needs to be user defined.)|
|Loan Reschedulement charges||INR 2500|
|Loan Restructuring charges||INR 3500|
|Duplicate NOC or No Due Certificate||INR 250 per request (Original NOC to be provided to the customer free of cost at the time of loan closure subject to all conditions being met)|
|Charges towards legal expenses in case of overdue/ default/ recovery / Legal action under Section 138 of Negotiable Instruments Act, 1881, and/or Section 25 of Payments and Settlements Systems Act, 2007||At actuals|
|Cash collection charges||1% of the collection amount for Rs. 50000 and above in cash (Free below the amount of INR 50,000)|
|Duplicate Repayment Schedule||INR 300|
|Loan Statement / Statement of Account charges||INR 200|
|Prepayment Statement charge||INR 200|
|Duplicate foreclosure statement charges||INR 200 (Original foreclosure statement to be provided at the time of case closure - free of cost)|
|Copy of property documents||INR 500|
|Copy of loan agreement||INR 500|
|Commitment charges||To be decided|
|CERSAI Charges Only in case of secured - property||INR 250 to 500 /-|
|Other Charges - Miscellaneous||At actuals|
*Charges may be updated from time to time. Please refer to the loan agreement for applicable charges.
RAR Fincare has established high-quality relationships with customers and provides excellent services in its focus market areas. Our priorities are customer satisfaction & prudent growth, and we have designed tailor-made products to meet the requirements of our customers.
Get ample amount sanctioned meeting your requirements
Streamlined loan journey and we’re available to help you throughout
Flexible repayment options (EMI and bullet) and longer tenure
Interest rates of 14% p.a. and onwards
Enter your personal and bank details to get a fair loan offer
Our team assists you throughout to complete the application
Accept loan offer and execute loan documents
Choose from flexible repayment options and start receiving funds
You can visit the nearby RAR Fincare branch office to apply for the loan. Or else, you may simply fill out and submit the online form provided on this website, and our representative will get in touch with you to help you with the loan application.
We have developed a smooth and simple loan application journey with the help of a robust technology solution. From the start of the loan application till the disbursement of the fund, our representative will help throughout the loan journey.
Keeping in mind the myriad requirements of our customers, we have allowed flexible repayment options, longer tenure, and higher loan amounts at attractive interest rates.
We do not enforce stringent security requirements for eligible customers and offer loans without any collaterals. For others, we accept a wide range of securities – be it your property or investments.
The formula which is used to calculate the equated monthly instalments that you are required to pay RAR Fincare for availing the loan is
P x R x (1+R)^N/[(1+R) ^ (N-1)]
where P stands for the principal amount, R is the rate of interest, and N is the loan tenure.
RAR Fincare will charge a penalty fee if a borrower misses an EMI payment. A missed or delayed instalment payment will reflect on your credit report. Not making loan due amount payments on time can have a negative effect on your credit score.
Once the application is duly submitted, it’ll take approximately 2 business days to disburse funds to your bank account.
We allow up to 3 years for personal loans.
If your CIBIL score is above 650, then you will be eligible to obtain a loan from us. Customers with CIBIL scores below 650 would undergo additional checks from our side before sanctioning the loan.
We accept the following list of collaterals as part of personal loan application: -
If repayment has not defaulted at any point, then your EMI amount will remain the same throughout the tenure of the loan.