For many young Indians, taking a personal loan can feel intimidating—especially if you’ve never had a credit card or any formal credit history. Fortunately, fintech lenders like Prefr are changing that. They’re making personal loans accessible, simple, and tailored to first-time borrowers.
Whether you’re just starting your career or need a small-ticket loan to cover an urgent need, Prefr could be the ideal place to kickstart your credit journey. Let’s dive into what makes this lender a smart pick for your first loan—and how RupeeQ can help you get started.
What Is Prefr? A Digital-First Lender For First-Time Borrowers
Prefr is a tech-driven lending platform that partners with NBFCs to provide short-term personal loans to new-to-credit individuals. Their main focus is on:
- Young salaried individuals with no or thin credit history
- Making borrowing easier with a 100% digital journey
- Offering quick, low-risk loans that help you build your credit score
This makes Prefr ideal for first-time borrowers looking for a small, manageable loan with minimal friction.
Top Reasons Why Prefr Is Perfect For Your First Personal Loan
Prefr has designed its platform keeping new borrowers in mind. Here are the standout benefits:
1. Available with salary as low as ₹18,000/month
Not every lender caters to entry-level professionals. But with Prefr, even if you earn ₹18,000/month, you can get a loan — making it inclusive for interns, freshers, and gig economy workers.
RupeeQ Tip: Use RupeeQ ACE to check your free credit score—even if you’re just starting. It helps you build awareness of your financial profile and increases your chances of better loan offers over time.
2. Quick disbursal within 10 minutes
Need funds in a hurry? Prefr offers instant personal loan disbursal in less than 10 minutes after approval. Whether it’s for rent, travel, or a medical emergency, you don’t have to wait days.
3. Minimal documentation with selfie-based verification
No piles of paperwork. No trips to the bank. Here’s all you need:
| Document | Purpose | Requirement |
| Selfie | Photo verification | Mandatory |
| PAN Card | Identity check | Mandatory |
| Aadhaar Card | KYC compliance | Mandatory |
| >Bank Statement | Income check | Optional |
This selfie-based verification and optional income proof make Prefr one of the most accessible lenders in the market.
4. Complete digital journey—no branch visits needed
From application to approval to disbursal, everything happens on your phone or laptop. The app-based experience is designed to be frictionless and intuitive.
Steps to apply:
- Fill in basic personal details
- Upload documents (Aadhaar, PAN, Selfie)
- Link bank account digitally
- Set up eMandate
- Get instant approval and funds in 10 minutes
RupeeQ Tip: Once you’ve repaid your first Prefr loan successfully, use RupeeQ ACE to track your credit score increase—it’s a great motivator to build long-term credit health.
5. Multiple repayment options that match your salary cycle
Prefr offers customizable repayment tenures so you can select what fits best:
- Tenures: Usually between 3–6 months
- Monthly auto-debit from bank account or UPI-linked wallet
- No prepayment penalty, so you can close early if you wish
This flexibility ensures that even first-timers can manage repayments smoothly.
How Prefr Helps A First-Time Borrower
Soham, a 23-year-old digital marketing executive in Pune, had never borrowed before. When his laptop broke down just before a project deadline, he turned to Prefr via RupeeQ. He applied for ₹12,000, submitted a selfie, PAN, and Aadhaar, and received the money within 30 minutes. He chose a 4-month tenure and repaid on time—now, he has a credit score of 715 and access to bigger offers.
Who Is Eligible To Apply For A Prefr Personal Loan?
| Criteria | Requirement |
| Age | 21–35 years |
| Nationality | Indian |
| Income | ₹18,000/month or more |
| Credit History | Not required |
| Documents | Aadhaar, PAN, Selfie (bank statement optional) |
This makes Prefr an attractive option for salaried employees, freshers, and even freelancers with bank records.
Why Prefr + RupeeQ = A smart financial start
When you apply for a personal loan via RupeeQ, you’re not just getting a loan—you’re getting insights, comparisons, and tools to grow your credit journey responsibly.
What RupeeQ adds:
- Smart lender-match based on your profile
- Free credit score checks with RupeeQ ACE
- Post-loan tracking to monitor and grow your creditworthiness
- Easy visibility into better loan offers as your score improves
Start Your Credit Journey With Prefr, via RupeeQ
Getting your first personal loan doesn’t have to be overwhelming. Prefr removes the complexity and offers a safe, fast, and inclusive path to build credit from scratch. With no credit history required, instant disbursal, and low salary eligibility, it’s the perfect launchpad.
And with RupeeQ in your corner, you not only get matched to the right lenders—you also track, compare, and grow your financial confidence from day one.
So if you’re ready to take the first step in your credit journey, let Prefr and RupeeQ help you get started—the smart way.
