FatakPay : Get Instant Loan

About FatakPay : Get Instant Loan

A. About Fatakpay
•FatakPay, a fintech, offers credit & other financial products to individuals through its award-winning platform–FatakPay
FatakPay ties up with corporate employers and offers a slew of products to the employees through its customised platform. It is available only to the employees of the partnering companies and offered on the basis of pre agreed terms of services with corporates
FatakPay, in partnership with NBFCs, offers credit up to ₹ 50,000/- based on employees’ credit profile (क्रेडिट प्रोफाइल) and repayment history. The offerings are entirely digital with focus on easy access & availability
Every user of FatakPay goes through the guidelines stipulated by RBI in terms of KYC & residential proof verification. The approval is based on criterias which are designed jointly between Fatakpay and Fatakpay’s partner NBFC (एन बी एफ सि)
The FatakPay app is owned by entity FatakPay Digital Private Limited (CIN NO. U72900MH2021PTC369484)

B. Features:
Convenient Transfer – It can be used to send money using IMPS (आई एम पि एस) & NEFT (एन इ एफ टि)
Cashbacks and Rewards for monthly saving on purchases – through our merchant tie ups

C. Why FatakPay?
At FatakPay (फ़टाकपे), we’re building a new way to access credit faster and easier. We believe that credit should be conveniently available to everyone during emergencies and needs. We aim to help our customer avoid issues that become problems just because they could not get their credit needs met on time.

D. Who Can Use FatakPay?
Download the FatakPay app after your Employer is partnered with FatakPay.
Sign up using the phone number, Employer name and Employee code.
Complete your KYC (के वाई सि)
Accept the offer availed and start transacting.

E. Fees and Charges
Annual Percentage Rate (APR): Ranges from 15 - 36%. APR is communicated on the FatakPay App upfront before accepting the offer. The APR depends on the loan tenure & credit profile of the customer. FatakPay charges a convenience fee which is included in the aforesaid APR.
Repayment can be done using debit card, net banking or UPI (यू पि आई)

F. Transaction Breakup - An Example:
Loan amount: ₹ 10000
Minimum repayment period: 2 months
Maximum repayment period: 12 months
Interest rate: 15% per annum (For repayment at the end of 12 months)
Convenience fee: ₹ 300
Interest: ₹ 1500 (calculated on a yearly basis and on a reducing balance basis)
Convenience fee + Interest: 1800
APR: 18%
Total loan repayment : ₹ 11800

G. Permissions that we seek:
One time permissions like SMS, location and contacts to have data points to enable our NBFC partners to underwrite better.
For a faster process, we typically require the following permissions:
SMS - We read only transactional SMSs to ascertain creditworthiness
Location - To check and expedite the KYC process
Camera & Media Access - Helps uploading selfie for the application process
Read Device Info - To securely link the loan application to the user's phone
To read our Policy for dues, visit: https://fatakpay.com/privacy-policy

H. RBI Compliance
FatakPay has partnered with a RBI (आर बी आई) regulated NBFC - Atmos Finance (P) Ltd (N-13.02297). Our policies and services are as per the regulations and are fully compliant as per RBI.
View FatakPay facilitator listing: https://www.procredit.co.in/our_partner.php
(P.S: Procredit is the brand name used by Atmos Finance (P) Limited)

I. Safety & Security (Data Protection)
Data Security Features
FatakPay is ISO 27001:2013 certified
Data at rest and in transit is 100% encrypted
Customer data is stored & processed only in India
FatakPay employees do not have access to any customer information whatsoever

J. Infrastructure & Network Security
Users can delete their personal information from the FatakPay databases, at any time
Privacy Policy: https://fatakpay.com/privacy-policy
Terms & Conditions: https://fatakpay.com/terms-condition

K. Contact us:
Email: [email protected]
Phone Number: +91- 8976226669