PaisaLoan - Instant Personal Loan App [Android]

PaisaLoan is the most innovative instant loan application for salaried professionals. PaisaLoan is an instant online loan application in India, for individuals who are looking for a personal loan. The PaisaLoan application supports providing personal loans, loan credits, cash loans for personnel, salaried professionals.

Product information:
Loans range from ₹1,000 to ₹2,00,000.
Duration: 91 days-365 days
Interest Rate:Depends on the customer's risk profile and loan tenure. The interest rate is from 10% to 25% per annum.
Minimum Annual Percentage Rate (APR)：18%
Maximum Annual Percentage Rate (APR)：25%
Daily interest rate：0.068%（25%/365=0.068%）
Service charge: 0%-20%

Example:
If the loan amount is ₹5,000,
Annual interest rate of 10%,
Service fee of 10% and
The loan period is 180 days, then
Repayment interest: ₹246.58(Calculation formula:₹5,000 * 10% / 365 * 180=246.58)
Service charge：₹500（Calculation formula:₹5,000*10%=₹500）
Total repayment amount: ₹5746.58（Calculation formula:₹5000+₹246.58+₹500=₹5746.58）
Monthly repayment: Repayment in 3 installments, the monthly repayment amount is ₹1915.53 （Calculation formula:₹5746.58/3=₹1915.53）

App Product Features:
1.Highest loan amount up to Rs.5,00,000
2.Get fast, convenient, online loans in 10 minutes to complete the approval.
3.No Credit History Required.
4.Zero processing fees.

Eligibility:
Indian Resident with monthly income
Age between 18 and 55
Aadhaar card
PAN card
Bank Account / able to use online banking

Security:

All the transactions are secured via a 256-bit SSL encryption.