Freo
Freo Personal Loan
A credit line (formerly MoneyTap) of ₹3,000 to ₹5 lakh from several NBFC partners, where interest is charged only on what you draw, at 12% to 36% a year, with a minimum income of ₹25,000 a month.
- 12% to 36% a year
- ₹3,000 to ₹5 lakh
Rates and charges
- Interest rate
- 12% to 36% a year
- Annual percentage rate (APR)
- Up to 70%
- Processing fee
- From 2% of the amount + GST, charged at disbursal. Freo's example loan also charges a ₹999 + GST line setup fee, paid upfront
- Foreclosure
- Up to 3–4% of the outstanding amount in certain cases; no lock-in, can be closed any time
- Part-prepayment
- Not published
What ₹1,00,000 for 12 months would cost
| At | EMI | Interest | Fee + GST | Total cost |
|---|---|---|---|---|
| Lowest rate (12%) | ₹8,885 | ₹6,619 | ₹0 | ₹6,619 |
| Highest rate (36%) | ₹10,046 | ₹20,555 | ₹0 | ₹20,555 |
Uses the published rates with no processing fee plus 18% GST. Try your own numbers in the EMI calculator.
Loan terms and eligibility
- Loan amount
- ₹3,000 to ₹5 lakh
- Tenure
- 3 months to 4 years
- Who can apply
- Salaried and Self-employed
- Minimum income
- ₹25,000 a month
- Age
- 22–55 years
- Disbursal (lender's claim)
- Approval in under 5 minutes
- Who lends
- Kisetsu Saison Finance (India) Private Limited, SMFG India Credit Company Limited, InCred Capital Financial Services Private Limited, TapStart Capital Private Limited, Cholamandalam Investment and Finance Company Limited, Transactree Technologies Private Limited
- RBI digital lending apps directory
- Listed (as reported by the lender)
Apply with Freo
Apply nowVia our referral partner. We may earn a commission.CreditParakh is not a bank or lender and doesn't guarantee approval. Approval is at the bank's or lender's discretion. The lender decides your rate, amount and approval.
Work out your EMI with Freo's rates
Prefilled with Freo's lowest published rate. Change any number to match your offer.
Your loan
- Monthly EMI
- ₹8,885
- Total interest
- ₹6,619
- Processing fee + 18% GST
- ₹2,360
- Total cost of the loan
- ₹8,979
- Effective annual cost
- 16.56%
- Money in hand
- ₹97,640
- You pay back in 1 yr
- ₹1,08,979
Total cost = interest + processing fee + GST. Effective annual cost is the yearly rate you really pay on the money in hand, the way lenders work out the APR in a Key Fact Statement.
Same loan, different tenures
| Tenure | EMI | Total interest | Total cost (incl. fee + GST) | Effective annual cost |
|---|---|---|---|---|
| 12 months (yours) | ₹8,885 | ₹6,619 | ₹8,979 | 16.56% |
| 24 months | ₹4,707 | ₹12,976 | ₹15,336 | 14.42% |
| 36 months | ₹3,321 | ₹19,572 | ₹21,932 | 13.67% |
| 48 months | ₹2,633 | ₹26,402 | ₹28,762 | 13.29% |
| 60 months | ₹2,224 | ₹33,467 | ₹35,827 | 13.06% |
A longer tenure lowers the EMI but raises the total interest. A fixed fee costs more per year on a short loan.
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Questions people ask
What interest rate does Freo Personal Loan charge?
Freo publishes 12% to 36% a year. The rate you're offered depends on your credit score, income and the lender's own checks, and is usually above the starting rate.
What is Freo's processing fee?
From 2% of the amount + GST, charged at disbursal. Freo's example loan also charges a ₹999 + GST line setup fee, paid upfront. GST at 18% is added to the fee.
Who actually gives the loan?
Freo is a lending app. The loan is given by Kisetsu Saison Finance (India) Private Limited, SMFG India Credit Company Limited, InCred Capital Financial Services Private Limited and 3 others, which are regulated by the RBI. Your Key Fact Statement names the exact lender.
Is Freo registered with RBI?
The Freo app is listed in RBI's directory of digital lending apps, as reported by Kisetsu Saison Finance (India) Private Limited and SMFG India Credit Company Limited. The directory shows what lenders report; RBI doesn't vouch for the app. The app itself isn't a lender; the bank or NBFC behind it is regulated by RBI.
Can I close or prepay a Freo loan early?
Closing early: Up to 3–4% of the outstanding amount in certain cases; no lock-in, can be closed any time.
Who can apply for a Freo personal loan?
Salaried and self-employed applicants. Minimum income ₹25,000 a month. Age: 22–55 years. Approval is at the lender's discretion.
How much does a ₹1,00,000 loan from Freo cost?
Over 12 months at the lowest published rate, about ₹6,619 in interest and fees; at the highest published rate, about ₹20,555. Your EMI depends on the rate you're offered.
Related guides
- True Cost of a Personal Loan: Fees and APRWhat a personal loan really costs: flat vs reducing rate, processing fee and GST, APR in the Key Fact Statement, foreclosure and penal charges.
- CIBIL Score: Check Free, Improve in 90 DaysCheck your CIBIL score free with one full report a year from each bureau, dispute errors yourself, and build a better score with a 90-day checklist.
- True cost of a ₹1 lakh loan at every lenderInterest, processing fee and GST, side by side
Last verified 18 Oct 2026 on Freo's official page. Rates and fees change; check the lender's terms before you apply.