WeRize Personal Loan Interest Rate @ 1.35% ROI

Getting a loan is easy with a monthly salary of Rs. 12,000 from the WeRize fintech platform. For middle-income households, one of the best choices is the WeRize personal loan. You may experience a 100% online loan approval process.

WeRize personal loan interest rate is 1.35% monthly. Fast forward the application to disburse within 4 days.

WeRize Personal Loan Details

Loan Amount	Up To 5 Lakh
Interest Rate	16% to 22% p.a.
Tenure	12 to 36 months
Customer Age	21 -55 years
Required Salary	Rs. 12,000 Net
Eligible For	Salaried Person

Features of WeRize Personal Loan

• Available WeRize loan at Rs. 12,000 salary. The middle-class group easily obtains loans at lower income.
• Lenders offering personal loans at lower interest rates. The interest rate is 16% to 22% per annum.
• The application journey is paperless. Digitally you can apply for the loan from a smartphone. This is a click procedure.
• A salaried person may be eligible for a top-up loan facility if you complete four EMI with WeRize Finance.
• You may apply for a maximum loan amount. Get maximum loan facility up to Rs. 5 lakh.

WeRize Personal Loan Interest Rate

WeRize provides interest rates based on several factors like salary, creditworthiness, and repayment capacity. The interest rate of WeRize finance is starting from 16% to 22% p.a.

Personal loan interest rates are typically high compared to secured loans such as home loans or car loans, it’s important to note that personal loans are 100% unsecured. This is a collateral-free personal loan.

WeRize Personal Loan Eligibility

Read carefully about the eligibility details of the WeRize personal loan:

• Your monthly in-hand salary of Rs. 12,000 is required.
• The profile of your job must be 12 months old.
• A borrower credit score of 680+ or above must be needed.
• Salary should be credited to the borrower’s account.

Complete Documents List of WeRize Loan

Identity Proof	Pan Card
Address Proof	Aadhaar Card
Income Proof	Latest month’s salary slip & 12-month bank statement
Residential Documents	Electricity bill / Water bill / Property paper

Factors Affecting WeRize Personal Loan Interest Rates

Interest rates depend on various factors. You should know the actual actor. The following factors affect WeRize personal loan interest rates:

1. Borrower Profile: Interest rates vary on borrower profile. Customer monthly income, company, and creditworthiness help to reduce personal loan interest rates.

2. Credit Score: Obtaining a personal loan is one of the most critical factors that WeRize considers. A borrower CIBIL score of 700 or above can provide a lower interest rate. However, lower credit scores typically increase interest rates.

3. Loan Amount: The amount of your loan will depend on changing interest rates. A larger loan amount may reduce the interest rate. Same way lower loan amounts may increase interest rates.

4. Loan Duration: Your repayment term play also vital role. If you choose a shorter tenure, the interest rate may be high. Also, you can get lower interest if you choose a long repayment tenure.

Also Read: Urgent Loan for CIBIL Defaulters in India

Additional Charges for WeRize Loan

Paying extra charges like processing fees, late payment fees, and prepayment penalties are needed for WeRize personal loans. You should be aware of these additional fees:

• Processing Fee: WeRize charges a 1% to 3% processing fee on loan approval amount. Processing charge automatically deducts before credit loan amount to borrower account.

• Late Payment Charges: If the borrower misses the actual EMI date, you have to pay the penalty. This is also called late payment charges. Borrowers should be aware of timely payment to avoid late fees.

Final Thoughts

WeRize provides affordable personal loans for lower to middle-class earners.  The transparent application process makes you happy. Also, your loan will be approved within 72 hours.

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