Flipkart Personal Loan – General Information
Flipkart offers easy-to-access personal loans through its lending partners, with interest rates starting from 10.99% per annum. These loans are designed for a wide variety of purposes—be it marriage, education, medical expenses, travel, or even day-to-day needs. The entire process is digital, making it convenient for users to apply and receive funds directly into their savings account.
There are two types of loans available:
- Instant Personal Loans: These are disbursed within minutes of application with zero paperwork.
- Regular Personal Loans: These may take longer to process but are suitable for larger amounts or more customized repayment plans.
Key Benefits:
- No restrictions on usage (except speculative purposes)
- No collateral required
- Minimal documentation
- Instant approval and disbursal for eligible users
Things to Consider:
- Interest rates are higher compared to secured loans like gold loans or loans against property.
- Shorter repayment terms (usually up to 5 years) can result in higher EMIs.
Lending Partners:
Flipkart provides loans via multiple trusted lending partners through super.money. You can view the full list of lending institutions here:
super.money/lending-partners
What Is a Flipkart Loan Calculator?
The Flipkart Loan Calculator is a simple tool that helps you:
- Estimate your monthly EMI
- Calculate the total interest payable
- Understand the total repayment amount
- Choose the best tenure (loan duration)
Whether you’re looking at a Flipkart personal loan or financing a specific purchase, this calculator helps you plan your finances with clarity.
Flipkart Personal Loan Eligibility Criteria
If you’re planning to apply for a personal loan via Flipkart’s lending partners, here’s what you need to know about the eligibility requirements:
1. CIBIL Score Requirement
Applicants with a credit score of 750 and above have higher chances of loan approval. However, even individuals with a lower CIBIL score (below 700) may get approval but at higher interest rates due to the increased credit risk.
2. Minimum Salary Criteria
The minimum income requirement varies by lender. However, most private and public sector banks expect a monthly salary of ₹20,000 or above. Some NBFCs may consider applications starting from ₹15,000 monthly income.
3. Can I Get a Loan Without Salary Slip?
Yes, some lenders allow you to apply without salary slips, but you may be asked to provide bank statements or alternate income proofs.
4. Already Have a Home Loan?
You can still apply for a personal loan even if you’re repaying a home loan. However, the decision depends on whether you have sufficient repayment capacity for the new loan.
5. Why Was My Loan Application Rejected?
Loan applications are assessed based on:
- Credit bureau profile
- Income and employment details
- Lending partner’s internal policies
If your application is rejected, consider:
- Improving your credit score
- Reducing existing debt
- Applying with a different lender
6. General Eligibility Summary
- Nationality: Indian citizen
- Age: Between 21 to 60 years
- Minimum Monthly Income: ₹15,000 to ₹20,000
- Credit Score: Preferably 700+
- Employment: Salaried or self-employed with stable income
Flipkart Personal Loan – Fees and Charges Explained
When availing a personal loan through Flipkart’s lending partners, it’s important to be aware of the applicable fees and charges. While the exact amounts may vary from one lender to another, the following are common charges borrowers should keep in mind:
Key Charges to Consider:
- Processing Fee: Typically ranges from 0.5% to 2.5% of the total loan amount. This is deducted upfront during disbursal.
- Prepayment or Foreclosure Charges: If you decide to repay your loan early, lenders may levy prepayment charges as per their policies. These charges vary, so always check your loan agreement.
- Late Payment Fees: If an EMI is paid after the due date, a penalty or late payment fee may apply.
- Other Possible Charges:
- Loan cancellation fees
- Document handling charges
- EMI bounce charges (for failed auto-debit/cheque payments)
Important Note:
All applicable fees will be clearly outlined in your loan agreement. Make sure to review the terms thoroughly before proceeding with the loan to avoid unexpected charges.
For precise fee details related to your loan, refer to your loan documents or contact the lender directly.
Example Calculation
Let’s say you’re approved for a ₹50,000 Flipkart personal loan at an interest rate of 14% for 12 months:
- Monthly EMI = ₹4,501
- Total Interest Payable = ₹4,012
- Total Payment = ₹54,012
With tools like this, you can easily compare different tenures (6, 12, 18, 24 months) and pick what’s right for you.
Why Use a Loan Calculator Before You Borrow?
Using a Flipkart loan calculator helps you:
- Avoid over-borrowing
- Choose an affordable EMI that suits your monthly income
- Get transparent insight into interest charges
- Compare Flipkart loan EMIs with other options like credit cards or BNPL services