Finzy

Features Finzy

Bridge fintech solutions private limited (Finzy) is Indias premier peer to peer lending platform.
Finzy digitally connects investors to hand-picked Borrowers (who can avail personal loans starting at interest rates as low as 7.99% p.a) to provide risk optimised returns that are as high as 2 times of bank Fixed Deposit on an average.Finzy is not a matchmaking platform but a complete Loan Lifecycle Management CompanyWhat is Finzy trying to do?We want to give people the power to follow their dreams NOW.
Whether it is for that hobby you’ve been putting off, or that travel you meant to go on, or a birthday gift for a loved one.
We understand that you might not have the money at this point, but you’ll get it soon.Our goal is to help people get easy & hassle-free loans.
And we do this by connecting people looking for loans and people looking to invest.* Minimum and maximum period for repayment:On finzy, a borrower can avail a loan for 6/12/24/36 monthsBorrower can prepay the loan anytime after the first EMI (no pre closure penalties or no lock-in period)Finzy: Our loans start from interests as low as 7.99% p.a and go upto 21.99% p.a (no loans in finzy ever has been in C category.
These categories are explained in the pricing section)Finzy charges a nominal fee of 2% - 4% depending on the grade borrowers loan falls under.Both the above aspects are clearly articulated on our website https://finzy.com/faq under pricing section.₹1,00,000 Loan disbursed at 10.99% p.a.Processing Fee @ 1%: 1000GST @ 18% of Processing Fee: 180Amount Disbursed: ₹98,820Loan Tenure: 36 MonthsMentioned below is the EMI schedule of this Loan:1st EMI: Date: 5th Feb 2020 | EMI: ₹3292.3 | Principal: ₹1759.65 | Interest: ₹1532.63 | Balance: ₹98240.352nd EMI: Date: 5th Mar 2020 | EMI: ₹3292.3 | Principal: ₹2436.81 | Interest: ₹855.47 | Balance: ₹95803.55 3rd EMI: Date: 5th Apr 2020 | EMI: ₹3292.3 | Principal: ₹2400.49 | Interest: ₹891.78 | Balance: ₹93403.054th EMI: Date: 5th May 2020 | EMI: ₹3292.3 | Principal: ₹2450.88 | Interest: ₹841.39 | Balance: ₹90952.17 5th EMI: Date: 5th Jun 2020 | EMI: ₹3292.3 | Principal: ₹2445.65 | Interest: ₹846.63 | Balance: ₹88506.52Similarly, the EMIs will continue for a period of 36 months36th EMI: Date: 5th Jan 2023 | EMI: ₹3292.3 | Principal: ₹3261.83 | Interest: ₹30.45 | Balance: ₹0 Total Amount Paid(After 36 months without any delay): ₹1,18,522.8 Total Principal: ₹99,999.98Total Interest Amount: ₹18,521Above illustration is an example as the processing fees will differ along with the Rate of Interest for different borrower ratings.
Also if borrower fully prepays or partially pays more than the EMI amount, the tenure and the amounts will vary.