Prefr Loan - Policy April 23 for salaried and SelfEmployed


Prefr_Unsecured Loan Product Note

Target Segment:- Salaried and Self-employed individuals

Geography:-10,0000+ serviceable pin codes

Min Loan Amount :- Rs. 25,000

Max Loan Amount :-Rs. 3 lakhs

Tenure :-6 – 48 months

ROI :-15% - 36%

Installment Cycle :-Monthly EMI- 5th of Every Month

Collateral:-No Collateral

Processing Fees to Applicant :-~4%

Loan Payment Beneficiary:-Customer

Loan Repayment Beneficiary:-Lender collections account

Repayment:-Through NACH and any other digital modes of collection

Minimum Monthly Income:-

INR 18K for Salaried (Metro- Tier1 cities), INR 15K for Tier2+ cities INR 20k for Self Employeed

Age Group:-22 – 55 years

Identity Reach :-Valid PAN or Aadhaar


 CV_Prefr Derog Rules

• Income > 18,000 on Salaried & 20,000 on Self-employed

• Age: 22 to 55

• CV Serviceable pin codes only

• Bureau score >= 675 - CIBIL (Only Existing to Credit)

• No Suit filed and WD accounts (both active & closed)

• Reject/Filter Out if:-

• maxDpdLast36Month>=90

• maxDpdLast24Month>=60

• maxDpdLast12Month>=30

• max inquiries in Last7Days>=2

• atleast one PL availed in the last 3Months (account type-5, PL)

• Total overdue max> 5000 (including loans & CC- both active & closed)

• Reject if only PL in the credit history with amount < 20000 (Any customer with only PL(s) with less than 20K should be rejected. For example, a customer who has taken 2 PLs for 10K and 18K respectively should be rejected whereas a customer with a CD of 10K and PL of 18K can be approved).




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