Welcome to Free Apply for Instant Loan Online App! This app offers to help you to apply several different kinds of loan types for your need.
Quick & Easy Personal loans are collateral-free money with flexible repayment tenures. The competitive interest rates & high approval rates are unique features of online personal loans.
In this application, you have been informed about how to apply for quick loans on Mobile and how their work. Instant Loans can help you to apply with low-interest rates.
Loan characteristics:
- Loan amount from 750 to 50,000
- Repayment periods from 61 days to 180 days
- APR from 12% to 18% per annum
- Processing fees range from 3% to 12% (GST 18% applies)
EXAMPLE OF COST OF LOANS
- Amount Borrowed (Principal) = ₹20000/-
- Interest Rate = 3% monthly Simple Interest
- Tenure = 6 months
- Processing Fee = ₹600
- Amount disbursed = ₹20000
- Your EMI amount = ₹3692
- Interest amount = ₹2152
- Total Cost of Loan = ₹600+₹2152 = ₹2752
- APR = (2752/20000)*12/6 = 27%
REPRESENTATIVE EXAMPLE:
Loan amount: ₹ 30,000 at interest rate of 33.46% p.a.
Loan Duration: 3 Months
Total personal loan interest = ₹ 2,475
Processing fees (PF) + GST = ₹ 1000 + ₹ 180 = ₹ 1,180
Total Deductibles (PF + GST + Interest): ₹ 3,655
In-Hand Amount: Loan Amount - Total Deductibles = ₹ 30,000 - 3,655 = ₹ 26,345
Total repayable Amount: ₹ 30,000
Monthly EMI Repayable: ₹ 10,000
The deductibles (interest + PF + GST) are deducted upfront during the loan disbursal.
Note:
This Application Only Provide Guideline for How To Apply for Instant Loan, this app does not give any type of loan to you.
Declaimers :
This App is only for guidance: how to apply the various types of loans and this app does not borrow any type of loan to any other. this does not ask to app users for pay money for loan. Be aware this kind of fraud.
