Finzy

Finzy is India's premier peer to peer lending portal. Finzy digitally connects investors to hand-picked Borrowers who can avail personal loans to provide risk optimised returns. Finzy is not a matchmaking platform but a complete Loan Lifecycle Management Company. Minimum and maximum period for repayment: Finzy offers loans with EMI ranging from 3 EMIs to 36 EMIs, providing borrowers the flexibility to choose a repayment plan that suits their financial situation. Annual Percentage Rate (APR): The interest rates for personal loans start at 10.99% per annum with a maximum of 29%, depending on the borrower's profile, loan amount, and tenure. Representative Example of the Total Cost of the Loan: - Loan Amount: ₹1,00,000 - Tenure: 36 months - Interest Rate: Starting at 10.99% per annum - Processing Fee: 2% of the loan amount for top-rated borrowers (finzy Rating A1), which is ₹2,000 - GST on Processing Fee: 18% of ₹2,000, which is ₹360 - Total Processing Fee (including GST): ₹2,360 - Monthly EMI Calculation - EMI for ₹1,00,000 at 10.99% for 36 months: ₹3,275 per month (approx.) - Total Interest Paid Over 36 Months: ₹17,900 (approx.) - Total Repayment Amount (Principal + Interest): ₹1,17,900 - Total Cost of the Loan (Including All Fees) ₹1,17,900 (Total Repayment) + ₹2,360 (Processing Fee with GST) = ₹1,20,260 What Happens If EMI Is Not Repaid? If an EMI is missed, the borrower will face penal charges and delayed payment fees, which are calculated based on the outstanding loan amount and the delay duration. Finzy adheres to responsible lending & borrowing practices. Our policies and services comply with all applicable laws and regulations. We are committed to providing transparent and ethical financial services to our users.