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Everything you need to know about Swara Fincare

  • What is Swara Fincare?
    Swara Fincare Limited is a registered Non-Banking Financial Company – Non-Deposit (NBFC) which was incorporated as a Public Limited Company in 2020. Swara has received its RBI certificate of registration in September 2021.
  • Are you a bank or an NBFC?
    We are an RBI registered NBFC (Non-banking Financial Institution).
  • Who can avail loan from Swara Fincare?
    Any Indian individual above the age of 21 years, who is salaried or has a monthly source of income can apply for a Loan.
  • What type of loans does Swara offers?
    We offer various loan products like Business loan, Personal Loan, Consumer Durable loan, Business Loan for women enterpreneur, and Livestock loan in our retail segment.
  • Where is the loan disbursed?
    The loan amount is transferred directly to your bank account, which is provided by you during the loan application process.
  • How can I check the status of my loan application?
    To check your loan status, you can call our Relationship Manager or our customer care on +91 – 7810970292 or email us at from Monday to Saturday 9:30 AM to 6:30 PM, and give your application number provided to you through SMS, upon authentication of details, you will be informed of the status of your account.
  • How long does it take for the loan application to be processed?
    It usually takes 3-5 working days for the loan application to be processed, once all relevant documents are collected
  • What are the tenor options available for loan?
    You can choose a tenor ranging from 12 to 60 months depending on your preference and the loan sanction conditions.
  • Do I need to pledge property to get loan?
    We offers unsecured loans without any collateral or security to fulfil your financial needs.
  • In how much time will the money be credited to my bank account?
    Once loan is approved, amount shall be disbursed in your bank account within 2 working days.
  • How soon I can get another loan after closing my current loan?
    Immediately, provided you have repaid your earlier one on time.
  • How much loan can I get?
    We take into account several factors before deciding how much to lend you. These include your credit rating, your income and household expenses and current liabilities. We always try to lend the amount that we feel sure you can pay back.
  • What is Credit Score?
    A Credit score is a three-digit number that ranges between 300-900. It is calculated based on your credit behaviour & credit history. For example, timely EMI payments, keeping sufficient account balance before the due date etc.
  • How can i improve my Credit Bureau score?
    A healthy credit score can be maintained/improved by making timely EMI payments and credit card payments.
  • What should be my Credit score to avail new loan?
    It is generally advisable to have a Credit/Bureau score of 750 or above to qualify for a loan.
  • Whom should i contact for issue in my Credit Bureau report related to Swara Fincare?
    You can raise the issue by visiting our branch or by calling our customer care on +91 – 7810970292 or email us at available from Monday to Saturday 9:30 AM to 6:30 PM.
  • When my Credit Bureau will get updated after closure of my loan?
    After closure of the loan, the credit records will get updated by the 25th of next month. In case of any discrepancy, please write to us at
  • What is the rate of Interest charged on the loan?
    Our interest rate varies between 18% - 28%
  • What is the loan processing fee charged on the loan?
    The processing fee shall be 3.18% (including GST). The Applicable GST rate will be as per government guidelines at the time of loan disbursement.
  • Why is loan processing fee charged?
    There is operational effort that goes into performing credit checks and sanctioning the loan, the processing fee is charged upfront from the loan amount. However, this is a standard practice followed by all financial entities.
  • What is Insurance Premium?
    Insurance premium shall be 1.2% for a loan tenor of upto 1 year and 2.4% for a loan tenor of greater than 1 year and upto 2 years.
  • What is EMI Bounce Charges?
    EMI bounce or returned’ charge of Rs. 500..
  • What is Late-payments charges?
    Late charges are applicable on overdue accounts. If a customer misses to pay the EMI OR the NACH (National Automated Clearing House) / ECS (Electronic Clearing System) / SI (Standing Instruction) is returned due to insufficient funds on the due date for payment, 3% late charge will be applicable on the outstanding EMI amounts per month on a cumulative basis.
  • What is an EMI?
    EMI or Equated Monthly Instalment is a fixed amount that a borrower needs to pay to the lender which consists of both interest and principal. EMI is paid on a specific date every month during the loan tenure.
  • How do I repay the loan?
    You can repay the loan in Equated Monthly Instalments (EMIs) using the NACH facility (preferable option) or through our Customer App or through our Website.
  • What would be my instalment payment Date?
    Installment is paid on the 7th of every month during the loan tenure.
  • Is NACH set up mandatory for loan repayments?
    Yes. This is one-time setup activity, which can be done during loan application. We strongly recommend you to setup this once for hassle-free repayments experience.
  • How do change bank account for NACH payments?
    You may place a request by visiting our branch or by calling our customer care on +91 – 7810970292 or email us at available from Monday to Saturday 9:30 AM to 6:30 PM . It takes upto 7 working days for the NACH swap request to be approved, once approved NACH registration takes 15-21 days.
  • How to cancel NACH auto debit and make Stop payments?
    For all NACH cancellation requests and to make Stop payment requests, please email to us at or call us at 1800 - 0000 - 00
  • Can i pay my EMI in advance before the due date?
    You can make online advance EMI payment by logging onto our Customer app and on the website. Advance EMI payment is allowed till 3 days before the due date.
  • How can i do the EMI payment incase missed on the due date?
    You can make an online payment by logging into the customer app or on the website. Alternatively, we also send a payment link on your email id for making the payment. You can also get in touch with our branch team and Customer care.
  • I have made a advance payment before my EMI date. Do I still need to maintain fund in my bank account?
    In case the payment is received 5 days before EMI date, the EMI shall not be presented for auto debit from our end.
  • What should I do in case the EMI is deducted more than once?
    Please log a request for us to check by calling our customer care helpline on +91 – 7810970292 or email us at available from Monday to Saturday 9:30 AM to 6:30 PM , also share the bank statement where it shows multiple debits by Swara Fincare. Also, share your bank statement or UTR number of the transaction. Once validated, refund will be issued in 10 working days.
  • What happens if I don’t pay my EMI on time?
    There are major consequences for defaulting on a loan: 1. Late Fee & Penalty charges will be applied for everyday that the loan is overdue. 2. Your Credit score will be updated as a defaulter with credit rating agencies (CIBIL, CRIF High Mark etc.) 3. Your loan applications may be rejected due to defaults and low credit scores.
  • How many days it takes to update EMI payment ?
    It takes 2 working days for us to update your EMI payment in your records and for it to get reflected at your end.
  • Can I Preclose / Foreclose my loan?
    Yes, you can preclose/foreclose your loan as per your agreement with Swara Fincare Limited. You will also be charged a fee to preclose/foreclose your loan as per the agreement.
  • How can i get my loan preclosure letter?
    You can get your preclosure letter by visiting our branch or writing to our customer service team at
  • Will preclosure of loan impact my credit score?
    No, preclosure of your loan will have no impact on your credit bureau record. Once the loan is preclosed, the same will be reported to bureau/ credit record as "Closed".
  • What is loan preclosure charges?
    Enter your answer here
  • How can I update my mobile number / Email Address / House Address?
    You may place a request by visiting our near by branch or login our customer app or by calling our customer care helpline on +91 – 7810970292 or email us at available from Monday to Saturday 9:30 AM to 6:30 PM
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