new Personal Loan Interest Rates
Home Personal Loan Stashfin Personal loan Interest Rate
Stashfin personal loan interest rates start from 11.99% p.a. for loan amounts of up to Rs 5 lakh and tenures of up to 4 years. The NBFC considers various internal factors such as cost of funds, margin, risk premium while setting its personal loan interest rates. Other factors include loan tenure, credit score of the applicant, prevailing interest rate trend in the money market, etc.
Risk profile of the borrowers
Stashfin considers the employer’s profile of its personal loan applicants while assessing the personal loan applications. Although the NBFC has not mentioned the interest rate differentiation based on the employer’s profile, many banks and NBFCs consider the employer’s profile while fixing their personal loan interest rates. Most lenders offer preferential interest rates to salaried individuals as compared to self-employed individuals. Due to higher job security, personal loan for government employees are usually offered at lower interest rates as compared to personal loan for private employees. Due to the ability to withstand adverse economic conditions of top private companies and MNCs, their employees are also offered personal loans at lower interest rates.
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Updated: 28-08-2024 07:23:45 AM
Disclaimer: Stashfin is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Stashfin for personal loans. No offers/services from Stashfin are being provided by Paisabazaar for personal loans. For further information about Stashfin for personal loans, users are required to reach out directly to Stashfin.
Stashfin Personal Loan Interest Rates
Stashfin Personal Loan interest rates start from 11.99% p.a. onwards. The interest rates offered by the NBFC depend on the risk profile of the borrower, loan tenure, credit score, cost of borrowing funds, risk premium, recovery cost, loan documentation and maintenance fee, etc.
Note: Rates as of 28th August 2024
Factors Affecting Stashfin Personal Loan Interest Rates
Some of the factors used for setting Stashfin Personal Loan interest rates as well as various costs charged from the borrowers include:
Stashfin also considers the monthly income of its personal loan applicants while evaluating their personal loan applications. Applicants having a minimum monthly income of Rs 15,000 are eligible for Stashfin Personal Loans. Although Stashfin has not mentioned the interest rate differentiation based on monthly income, many banks and NBFCs offer lower interest rates to applicants having higher monthly income due to their higher repayment capacity and low credit risk involved. Lenders also offer personal loans to applicants having EMI/NMI ratio within 50-60%.
Credit score of the applicants
Stashfin has not mentioned any cut off credit score for its personal loan applicants. But just like many other lenders, it also considers their credit score while setting their personal loan interest rates and costs charged to the borrower. Thus, personal loan applicants having higher credit score have higher chances of getting their personal loan applications approved and probably at lower interest rates.
Other Factors that may Impact the Stashfin Personal Loan Interest Rates
Loan tenure
Prevailing interest rate trend in the money market
Cost of funds
Risk premium
Credit and default risk in related business segment
Historical performance of similar kind of customers
Treasury bill rates and sovereign yield curve
Interest cost of doing business
Recovery cost
Cost of portfolio monitoring
Customer communication cost
Loan documentation and maintenance fee
Interest rate offered by other NBFCs in the industry
Tips to avail Personal Loan at Lower Interest Rates
Maintain a credit score of 750 and above as most lenders prefer personal loan applicants with such credit scores and also offer lower personal loan interests to them.
Check with the lenders you already have a lending or deposit account with
Enquire about the interest rate concessions offered by different lenders during festive season
Visit online financial marketplaces to compare personal loan rate of interest offered by various lenders
Check whether you qualify for pre-approved personal loans from any lender
