Loan App Malayalam – How To Get 1000 Rs To 20000 Personal Loan – Personal Loan 2023 – Instant Loan
An instant personal loan is a type of unsecured loan that can be availed quickly and easily through various online platforms. These loans are usually disbursed within a few hours of application, and the application process is often simple and convenient, requiring minimal documentation.
Instant personal loans are ideal for people who need quick access to funds to cover unexpected expenses or emergencies. These loans can be used for a variety of purposes, such as medical expenses, education fees, home renovations, travel, and more.
One of the main benefits of instant personal loans is their speed and convenience. Borrowers can apply for a loan from the comfort of their homes or offices and receive the loan amount in their bank accounts within hours. Another advantage is that these loans do not require any collateral, which means that borrowers do not have to put up any assets as security.
However, instant personal loans often come with high-interest rates and fees, which can add up quickly and make them more expensive than traditional loans. It’s important for borrowers to carefully read the terms and conditions of the loan and ensure they can afford to repay it on time to avoid late payment fees and damage to their credit score.
Overall, instant personal loans can be a useful financial tool for those who need quick access to funds, but it’s important to use them responsibly and only when necessary.
Here is the another loan app called PayRupik Instant Personal Loan
It is a loan product of Sayyam Investments Pvt Ltd which is a registered NBFC under RBI. You can avail loan amount ranging up to ₹20,000, process is fast, easy and safe.
Loan Details :
-> Company : Sayyam Investments Pvt Ltd
-> Loan Amount: from ₹1000 to ₹20000
-> Minimum Loan Tenure: 91 days
-> Maximum Loan Tenure: 365 days
-> Maximum Annual Percentage Rate (APR): 35% per annum
-> Processing Fee: from ₹80 to ₹2000 depend on the loan tenure and amount
-> GST: 18% on the processing fee in accordance with the law and policy of India
Eligibility:
-> You must be an Indian national.
-> You must be over the age of 18.
-> You must have a steady source of income on a monthly basis.
What should you do first?
1. Download and install the PayRupik App.
2. Create an account.
3. Upload your KYC documents, which includes your ID, address proof, and PAN card.
The Loan Example:
-> For the loan amount is ₹6000 and the interest rate is 25% per annum and the tenure is 120 days, then the interest payable is calculated as follows:
-> Interest = ₹6000 x 25% / 365 x 120 = ₹493
-> Processing Fee = ₹100
-> GST = ₹100 x 18% = ₹18
-> The total repayment amount in 120 days shall be ₹6000 + ₹493 + ₹100 + ₹18 = ₹6611
-> APR = (₹6611 – ₹6000) / ₹6000 / 120 x 365 = 30.97%
