If you need a loan and want to take a loan, apply for a loan online from MobiCred Personal Loan App immediately and apply for the loan according to your requirement by looking at all the information.
Personal Loan App for Salaried Professionals.
Loan Range from ₹1,000 to ₹100,000
Loan Repayment Period: minimum 90 days – maximum 12 months.
Interest rates range from 12% to 30% maximum per annum on reducing balance basis, depending on product availed.
Lowest processing fees ranging from 0% to 5% of the loan amount plus 18% G.S.T
Representative Example:
Sanctioned Loan Amount: ₹10000/-
Processing Fees @ 3%: ₹300+₹54 (18% GST) = ₹354/-
Interest Rate: 20% per annum at Reducing Balance.
Amount Disbursed: ₹9646/- (Sanctioned Amount – Processing Fees)
EMI Amount: ₹3445.06
Tenure: 3 Months
Total Amount Payable: ₹10335.18 (Principal + Interest)
MobiCred makes use of a proprietary algorithm and formulates a ‘Profile’ score (Profile score) to provide the best experience to users in need of instant loans. All salaried individuals with a salary of Rs.12,000 & above can avail an instant loan by downloading the MobiCred App now!
For Students who are pursuing full time courses in recognized universities can avail the loan.
Students get an opportunity for building their credit score before they enter in to any profession.
Key Features:
– Instant loan up to ₹ 1 lakh
– Cash transfer to your bank account in minutes
– Flexible repayment tenure from 90 days to 365 days
– No prepayment charges, pay interest only on the number of days used
– Interest on loans at 12% to 30% per annum, translating to only 1% – 2.5% per month on reducing balance basis.
– Lowest processing fees ranging between 0% – 5% of the loan amount
– Having prior credit history is not mandatory, no prepayment charges.
Why is different from any other Personal Loan App?
– New to credit individuals can apply and avail the benefit of loan and build credit score.
– The approved loan amount can be used to shop, meet emergency expense, enroll for digital learning, Travel & any other genuine purpose.
– Loan approved in 30 minutes.
– Student Loan will help youngsters to make them credit worthy prior to their earning phase.
Unique Benefits of the App:
User friendly mobile app, Hassel free registration, and easy loan application process
Eligibility Criteria:
✔Indian citizen
✔Salaried Individuals and Students
✔Above the age 18 years for Student Loan and above the age of 21 years for Personal and Two Wheeler Loans.
✔For Salaried: Minimum take-home salary per month Rs.12000/-
✔For Student: Must be pursuing full time graduation or above from any recognized universities
Documents Required:
For Profile Creation:
– Selfie
– Aadhar Card
– Address proof
– PAN card
– College ID card for Student
– Company ID card for Salaried
For Loan Application:
– Bank statement
– Vehicle Proforma Invoice / Quotation (Only for Two Wheeler Loan)
How MobiCred Works?
Our 4-step application process reflects our goal to be the most secure instant loan apps in India. All you have to do is:
1. Log in to the MobiCred mobile app
2. Upload a few basic details and KYC documents.
3. Apply for Loan. Once your loan is approved, complete the loan documentations.
4. Once completed the amount will be transferred to your account.
Operational Cities:
Currently we are operational in Bhubaneswar, Cuttack, Berhampur, Sambalpur, Rourkela, Balasore, Angul, Jharsuguda.
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