Features
Easy
Application
No Paperwork
Seamless
Experience
everything happens in just few swipes
Flexible Repayment Options
Choose tenure between 6 to 36 months
Instant
Transfer
Loan to Bank account in minutes
Information Required
- Identity Proof (PAN)
- Address Proof (Masked Aadhaar / Officially Valid Documents (OVDs)
- Personal Details
- Bank Details
Employment Details
- Company Name
- Monthly Salary
- Official Email ID
Eligibility Criteria
- Citizen Of India
- Age between 18-58 Years
- Minimum monthly income of Rs 15,000/-
Loan Facility
We provide a loan up to Rs 5,00,000/-. The loan limit is decided based on your credit profile/history, income, and other factors. Once customer’s loan is approved, they can transfer the required amount to their bank account as a personal loan. This borrowed amount can be repaid in 6 to 36 months.
Fees, Interest and Charges
Processing Fees:
Processing Fee means charges levied by the financing partner to the Customer against the processing of loan, which the Customer will pay to the Lender for each transaction initiated by the customer. Processing fees ranges from 2% to 6% based on the customer’s risk profile.
Interest:
Financing Partner shall charge interest on the outstanding loan amounts calculated at the Rate of Interest displayed at the time of availing the loan. Rate of Interest ranges from 18% to 34% per annum based on the customer risk profile. The Rate of Interest on the Loan will be charged to loan account, unless specified otherwise, on a monthly basis and payable by the Customer (in case of closure of individual Loan account, on the date of such closure).
Annual Percentage Rate (APR):
Personal loans are offered at interest rates starting from 21% APR (Annual Percentage Rate). APR represents the annualized cost of borrowing inclusive of the interest rate and all applicable fees and charges (including processing fees). The exact APR applicable to a customer will be disclosed in the Key Fact Statement (KFS) provided prior to loan execution.
Overdue Interest:
In the event of default or delay in repayment, interest shall continue to accrue on the overdue principal outstanding from the due date until the date of full repayment. Additionally, interest shall accrue on any unpaid interest (including the unpaid interest component of an EMI) until the date of remediation, at the rate of interest applicable to the loan as disclosed in the Key Fact Statement (KFS) and loan agreement executed by the borrower. This is in accordance with normal compounding of interest and does not constitute penal interest.
Penal Charges:
In the event of default or delay by the Customer in repaying any EMI, the following penal charges shall be applicable in accordance with the Company's Board-approved Penal Charges Policy:
Delayed Payment Charges: A daily charge on the overdue amount as per the slab structure below.
Penal charges are not in the form of penal interest and shall not be capitalised.
Delayed Payment Charges:
In addition to Default Penal charges, Customer shall be liable to Delayed Payment Charges on the overdue amount as per below-defined slabs:
| Lower Range Amount | Higher Range Amount | Delayed Payment Charges per day |
|---|---|---|
| ₹ 0 | ₹ 500 | NIL |
| ₹ 501 | ₹ 5000 | ₹ 12 |
| ₹ 5001 | ₹ 15000 | ₹ 24 |
| ₹ 15001 | ₹ 25000 | ₹ 36 |
| Greater than ₹ 25,000 | – | ₹ 48 |
Pre-payment Charges:
NIL prepayment charges.
Cooling-off period:
The Company shall provide a cooling-off period to all borrowers. The borrowers can within the cooling-off/ look-up period exits the loan by paying the principal and the proportionate APR without any penalty. The cooling-off period shall not be less than One (1) day.
