Fibe loan app review in 2023

Fibe is a personal loan provider in India previously known as Earysalary. Fibe is India’s one of the largest loan providers online.

The personal loan industry is booming in India since the pandemic broke out. The industry is experiencing exponential growth, especially in the digital lending segment.

Please read our review on Money View personal loan app review

Overview of Fibe (Early salary)

This a platform that offers various types of loans such as

  1. Personal loans
  2. Instant loans
  3. Salary advance loans

Fibe is a funded company that was founded in 2015. The company has changed its name from Early Salary to Fibe

Fibe offerings

Fibe offers various financial services to its customers. Some of them are

  1. Personal loans
  2. Easy EMI
  3. Buy now pay later
  4. Free credit score
  5. Salary advance

Loan limits on Fibe

You can get a minimum loan of 5000 and a maximum loan of 5 lacks.

Pros and cons of Fibe

Advantages

  1. You can get the loan in just 2 to 3 days after applying.
  2. The approval rate is higher
  3. You can get a loan when you turn 21 years
  4. Best customer support
  5. Specialized EMI calculator

Disadvantages

  1. The interest rate starts at 12%
  2. The loan tenure is just 24 months
  3. High-interest rates
  4. Criticism of recovering agents’ harassment
  5. New to Market

How to apply for a personal loan in Fibe

  1. Step1 – Install the Fibe app through the play store
  2. Step 2 – Open the app and allow all the permissions
  3. Step 3 – Give your mobile number and after entering the mobile number enter the OTP
  4. Step 4 – Complete your KYC
  5. Step 5 – Enter the name as per your Aadhar number. After entering the Aadhar number now enter the amount you want for the loan.

Fibe will reach out to you once you complete the required documentation.

Eligibility criteria for Instant loan in Fibe

  • Your age must be 21 or above
  • You must be a salaried person
  • You need to get at least 18k if you reside in metropolitan cities or 15k other than metro cities.
  • You must be a citizen of India

Eligibility criteria for Personal loan in Fibe

  • Your age must be 21 or above
  • You must be a salaried person
  • You need to get at least 18k if you reside in metropolitan cities or 15k other than metro cities.
  • You must be a citizen of India

Eligibility criteria for salary advance in Fibe

  • Your age must be 21 or above
  • You must be a salaried person
  • You need to get at least 18k if you reside in metropolitan cities or 15k other than metro cities.
  • You must be a citizen of India

Conclusion

Fibe is a good platform to avail of personal or instant loans. But however, the interest rates are higher than the commercial or public sector banks. It’s your responsibility to check the interest rates before applying for any loan. Kindly read all the team and conditions before applying for any loan.

Disclaimer – This article is only for education purposes. Views are expressed strictly for educational purposes.

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