Get personal loans at better rates than banks and save money
Why choose 1 Finance P2P for your personal loan?
Get a personal loan when you need it, without unnecessary hidden costs. We offer loans at one of the best rates available.
Lowest rates for loans
Get personal loans online at competitive rates of 10–16%.
Flexible loan amounts
Apply for a loan online ranging from ₹10,000 to ₹3 lakh in just a few clicks.
Flexible repayment
Easily choose a loan repayment tenure that works best for you.
Zero hidden costs
All fees, including processing and onboarding, are clearly displayed upfront.
Lowest rates for loans
Get personal loans online at competitive rates of 10–16%.
Flexible loan amounts
Apply for a loan online ranging from ₹10,000 to ₹3 lakh in just a few clicks.
Flexible repayment
Easily choose a loan repayment tenure that works best for you.
Zero hidden costs
All fees, including processing and onboarding, are clearly displayed upfront.
Fair, transparent borrowing
Taking out a loan isn't as easy as it may seem. When you are in need of a loan, you often find yourself at the mercy of others. Banks and NBFCs often charge high interest rates, add hidden fees, and offer long repayment terms. However, there is now a better option.
At 1 Finance P2P, you get a fair deal. You borrow directly from lenders, eliminating the extra costs that intermediaries typically charge. Plus, you'll have access to some of the lowest interest rates available for personal loans, with all associated charges clearly outlined in a transparent agreement.
Who can borrow through 1 Finance P2P?
To borrow personal loans online from 1 Finance P2P, you must meet the following criteria:
1. Be at least 18 years old and a resident of India
2. Have a valid bank account
From whom are you borrowing?
At 1 Finance P2P, you will be borrowing from multiple lenders, including MNIs, HNIs, and family offices familiar with alternative fixed-income products. Each lender contributes up to 5% of your loan amount. Multiple lenders collaborate to fund your loan, and all of them are genuine and registered with 1 Finance P2P.
Who can benefit from an online personal loan on 1 Finance P2P?
Individuals seeking access to funds for personal needs- such as medical emergencies, home renovation, or debt management- may find an online personal loan on 1 Finance P2P suitable.
A new loan is just a few clicks away
Just fill in some simple details to set up your account.
01
As a borrower, register with 1 Finance P2P using your name and mobile number
02
Select the loan amount you want, the tenure, and the purpose.
03
Provide your bank account number and other required details.
04
Choose your loan offer at the most competitive rate.
05
Complete your verification, e-mandate, and sign the loan agreement.
06
Get your loan amount straight into your bank account, often within 24 hours.
P2P loan interest rate
Depending on your profile, credit score, and payment history, the interest on a 1 Finance P2P online loan will be between 10% and 16% per annum.
When will your loan EMI start?
1st - 20th
If your loan is disbursed between the 1st and the 20th of the month, your EMI payments will start on the 1st of the following month.
21st - 31st
If your loan is disbursed between the 21st and the 31st of the month, your EMI payments will begin on the 1st of the month after next.
P2P loan fees and charges to know
Depending on your profile, credit score, and payment history, the interest on a 1 Finance P2P online loan will be between 10% and 16% per annum.
Total charges = Registration fee + GST + Processing fee
A one-time, non-refundable registration fee of
₹199 is charged.
This amounts to up to 5% of your loan amount plus GST. This is one of the lowest fees in the industry.
Prepayment of the P2P personal loan
Full prepayment
Full prepayment
You can pay off the entire loan early, but there will be a fee of 2% of the Principal Loan Amount plus GST. This fee applies to pre-payments made before the EMI due date for the remaining months, excluding the charge for the current month. For partial prepayment, the same charge will be applicable.
Cooling period without penalty
Cooling period without penalty
You can cancel the loan and exit within 3 days from the date it was disbursed. To do this, you only need to pay the disbursed amount, with no penalty.
Not paying EMI on time? What you have to pay
Borrowers are legally and morally required to pay all dues on time. Failure to do so will result in penal charges. If your EMI is not paid by the scheduled time, you will incur the following charges:
If your EMI payment is late, a 2% charge will be applied to the overdue EMI amount, based on the number of days past the due date.
An EMI overdue charge of ₹500 for each delayed payment.
Frequently Asked Questions
It depends on the specific P2P platform from which you are borrowing. At 1 Finance P2P, the online loan borrowing process is easy and transparent.
To borrow personal loans online from 1 Finance P2P, you must meet the following criteria:
1) Be at least 18 years old and a resident of India.
2) Have a valid bank account.
Loan Amount: You can take an online personal loan starting from ₹10,000 up to a maximum of ₹3 lakh. Loan Tenure: The platform offers a flexible repayment option, allowing you to choose loan tenures of up to 24 months.
Depending on your profile, credit score, and payment history, the interest on a 1 Finance P2P online loan will be between 10% and 16% per annum.
You will be borrowing from multiple lenders, including MNIs, HNIs, and family offices familiar with alternative fixed-income products. These lenders are genuine and registered with 1 Finance P2P. Importantly, each lender contributes up to 5% of your total loan amount.
Yes, you can repay your loan early, either partially or in full. The prepayment charges will vary depending on the platform. When borrowing money from 1 Finance P2P, be sure to read the key fact sheet of your personal loan carefully to understand any applicable charges.
If you fail to make payments on time, you will face penal charges, which may include:
- Late Payment Charge
- EMI Overdue Charge
- Legal Action
- Bounce Charges
All these charges will depend on the P2P platform from which you are borrowing. They may vary from one platform to another. Be sure to read the Key Fact Sheet carefully before taking a personal loan from a P2P lender.
1 Finance P2P offers a fair, transparent borrowing process. You take loans from lenders, eliminating extra intermediary costs. All associated charges are clearly outlined in a transparent agreement before you start borrowing.
To choose the right platform, you should evaluate the following key features:
Competitive Rates: Look for competitive interest rates, typically in the range of 10% to 16% per annum.
Flexibility: Ensure the platform offers flexible loan amounts, ranging from smaller amounts such as ₹10,000 to larger amounts such as ₹3 lakh, and allows you to choose a comfortable repayment tenure.
Transparency: Verify that all fees are clearly displayed upfront with no hidden fees. This includes checking the costs for loan processing, onboarding, and any charges for prepayment.
Yes, there is a cooling-off period during which you can cancel and exit the loan within 3 days from the date it was disbursed. To do this, you must repay the principal amount of the loan and processing fee, but you will not face any penalty. The exact length of the cooling-off period will depend on the platform from which you are borrowing.
Yes, you will have to pay 2% prepayment charges for both full and partial prepayment. Be sure to read the terms and conditions carefully before taking out a loan.