Loan agreement checker · India
Is your loan agreement actually fair?
Paste your loan agreement and get a fairness score, the key terms in plain English, the 🚩 red flags (prepayment penalties, penal interest, hidden fees, acceleration), and the questions to ask your lender — before you sign.
🔒 We don't store it, and we auto-remove emails, phones, PAN & Aadhaar before sending to Google's AI (which may still use content to improve its services). Redact names too if sensitive.
This is an AI explainer to help you understand your document faster — not legal advice. Verify important clauses with a lawyer before signing.
What FinePrint checks in a loan agreement
Indian loan agreements often bury the real cost: a "flat" rate that hides a much higher effective rate, prepayment penalties (which RBI bars on floating-rate loans to individuals), steep penal interest, acceleration clauses that demand the full outstanding on one missed EMI, and forced insurance bundling. FinePrint reads the whole agreement and flags these in seconds.
Also checking a rent agreement or an offer letter? We check those too.
Frequently asked questions
- Is this loan agreement checker free?
- Yes — completely free, no login. Paste your loan agreement or upload a photo/PDF and get the analysis in seconds.
- Can a bank charge a prepayment or foreclosure penalty in India?
- RBI bars foreclosure/prepayment charges on floating-rate term loans to individual borrowers. A prepayment penalty — especially on a floating-rate loan — is a red flag worth challenging before you sign.
- What is penal interest and why does it matter?
- Penal interest is the extra rate charged when you miss an EMI. Very high penal interest, or a clause that lets the lender demand the entire outstanding on a single missed EMI (acceleration), can trap you — both are red flags.
- What does it check in a loan agreement?
- Interest rate and type (fixed/floating, flat vs reducing-balance), penal interest, prepayment/foreclosure charges, acceleration clauses, hidden fees, forced insurance bundling, floating-rate resets, collateral/seizure rights, and guarantor liability.
- Is this legal or financial advice?
- No. It's an AI explainer to help you understand your loan faster — not legal or financial advice. Verify anything significant with a professional.