MyFlot Personal Loan
Zomint Verdict: Fast digital loan for salaried with good CIBIL.
Flot (MyFlot) offers quick digital personal loans up to ₹1 Lakh with app-based process and fast disbursal. Loans facilitated by RBI-licensed NBFC DSG Investments. APR ranges from 28.8% to 55%.
Highlights
Key Benefits
Fully digital app-based application.
Quick approval and disbursal in 2-24 hours.
No need for bank statements or payslips.
Direct bank account disbursal.
Secure and encrypted platform.
Why Apply?
- Quick and paperless application.
- Competitive rates starting 24%.
- Suitable for urgent needs.
- No collateral required.
Considerations
- −High interest rates up to 55% APR.
- −Salaried only, no self-employed.
- −Strict eligibility criteria.
Eligibility & Requirements
Who Can Apply
- Salaried only, age 21-59.Employment: Salaried individuals only; Age criteria: 21 to 59 years.
- Income ₹35K+ monthly.Minimum monthly income requirement of ₹35,000.
- CIBIL 700+.Minimum CIBIL score of 700 required.
Required Documents
Quick Checklist: Minimal KYC: PAN, Aadhaar (masked), face match., No bank statements or salary slips needed., App-based verification using SMS and device data..
- IdentityPAN Card
- AddressAadhaar (masked)
Fees & Charges
Transparency First| Charge | Rate | Details |
|---|---|---|
| Processing Fee | From 5% + GST | From 5% + GST |
Application Process
Fully Digital
App-based process, no branch visits.
Fast TAT
Approval in few hours, disbursal 2-24 hrs.
Minimal Docs
PAN, Aadhaar, face KYC only.
Disclaimer: While we do our best to ensure the information displayed is accurate and up-to-date, the latest information about this loan, including interest rates, fees, tenure, and terms, is available on the respective lender's official website. We recommend verifying all details directly with MyFlot before making any decisions.