Online Loan

Personal Loan | Online Loan App

If you need a loan and want to take a loan, apply for a loan online from Speed Personal Loan App immediately and apply for the loan according to your requirement by looking at all the information.

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Personal loan up to 1 lakh for 10 month to 24 month at 0-2.50 per month

  • Loans range from 10000 to 100000
  • Tenure 10 month to 24 months, interest rates range from 20%-25.95% depending on risk profile of customer and product availed
  • Example : if loan amount is 50000 and interest is 22% per annum with tenure of 12 month and 24 month per annum with tenure of 6 month; after deducting any other fees
  • Interest = 50000×22%/365×180=5425

Speed Loan is an interest personal loan app &credit platform for young professional across India, where one can apply for personal loan online & avil up to 1 lakh as direct cash Transfer to bank account

Loan Types

Flexi Personal Loan– A flexible loan option where you can avail loans within 10 minutes of app install as direct bank transfer all you need is your PAN card, ID & Address proof, and can avail from 1000 to 50000 tenure 10 month to 24 month .

Personal loan for salaried – A personal loan option where you can avail amounts from 10000 to 1 lakh as direct bank transfer for a tenure ranging from 10 months to 24 months.

All you need is your PAN card ID Address proof and salary proof Online purchase loan -A loan option where you can Buy anything Now, pay later in EMIs.

Features

1. 100% online process
2. Minimal documentation
3. Fast approval
4. Immediate bank transfer

Benefits & Risks

1. Get access to higher amounts & tenures as you repay on time
2. As compliance requirement you payment behavior is shared with credit rating agencies based on that your credit score may increase / decrease

Eligibility

1. Indian resident
2. Above the age of 21 years
3. Should have monthly source of income

How to get started

1. Install Speed Loan App
2. Register through your mobile number
3. Fill your basic details to check forest level eligibility
4. Upload KYC documents-ID, Address Proff & PAN card
5. Avil loan as bank transfer

Amount, Tenure, Fees & Charges

Loans amount: 10000 to 100000, Tenure : 10 month to 24 months. Speed Loan charges one-time service fee while onboarding or during upgrade membership band availed by customer. Interest rates range from 0%-2.49% only.

A small processing fee is charged for loans e.g.: for low risk customers 2.5%-6.5%*. The charges and repayment tenures vary based on creditworthiness and repayment ability of customers .

Penalty is charged only when someone delays their scheduled payment.

The APR for different product is separate as per the risk profile of the customers. The APR for different personal loan products: low risk customers is 0%-36% , medium risk customers is 18%-39% high risk customers is 24%-42%* and very high risk customers is 24%-70%*.

In addition to it, GST will be applicable only on the fee components as per Indian laws.

*The higher charges are only for loans of lower amount and lower repayment tenure

Example

A new low risk customers availing personal loan for salaried can avail a loan of 50,000 at an interest rate of 22% processing free of 1,250 for a period of 12 months and onboarding fees of 281. This would translate to APR 25.2%

Interest calculation

If loan amount is 50,000 & interest 22% per annum and loan is to be repaid over 12 EMIs, then overall interest payable is 6,157 only. The EMI per month would be 4,680.

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And in this post, we have given the link of the loan app below, so that you
You can download the app by clicking on Download.

We want to reduce your problem by giving you loan information,
Yes, we do not give loans, we just give information about the loan, so that you loan.

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