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A flat interest rate is the interest rate calculated on the full loan amount throughout the loan tenure without considering the monthly EMIs that reduce the loan amount with every repayment.

In reducing interest rates, the interest is calculated on the outstanding amount that keeps reducing with every monthly repayment. This means that the EMI is calculated every month taking into consideration both the interest on the outstanding loan amount and the principal.

A good CIBIL score is a prerequisite for you to get credit. So, when you get approved for a Sera Digital Loan, use the cash and repay on time, and you start building your credit history. Taking credit and repaying on time is the best way to improve your credit score. To make sure you don’t miss out on your repayments, we send you reminders every month.

All the information provided by you is safely stored in our access-controlled system that has data encryption and restricted access. So, you can rest assured that all your data is safe with us.

If you are able to repay the entire outstanding amount of your loan before your predetermined loan tenure ends, it will definitely help you save big on the interest because it automatically reduces. However, if you don’t wish to prepay your entire loan amount in one shot and want to prepay a part of the outstanding loan amount early, you can do so by paying part of the total loan value at a time convenient to you. Please note that not all banks or lending platforms offer part prepayment.

A personal loan is an amount of money you can borrow to cover your personal expenses which you need to repay in monthly installments.

There are two types of Personal Loans:

a. Secured Personal Loan

Secured personal loan requires you to pledge your car, valuable assets or your house to guarantee repayment. While a secured loan has lower interest rates, there is also a risk of losing your valuable assets if you fail to repay the debt.

b. Unsecured Personal Loan

Unsecured personal loans require no collateral and can be used for any reason, including wedding expenses, travel costs, medical emergencies, home renovation, or debt consolidation depending on your current financial needs.

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