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All About Online Loan Apps in India To Get Real Cash

There used to be times when you had to go through a lot of hassle-bound processes like filling out <br>applications, background verification, income verification, signing paperwork, etc., to get a simple <br>loan from a bank. But today, with the advent of digitalisation, if you own a smartphone, you can get a <br>loan with an online loan app, such as RupeeRedee, almost instantly.<br>

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All About Online Loan Apps in India To Get Real Cash

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  1. All About Online Loan Apps in India To Get Real Cash There used to be times when you had to go through a lot of hassle-bound processes like filling out applications, background verification, income verification, signing paperwork, etc., to get a simple loan from a bank. But today, with the advent of digitalisation, if you own a smartphone, you can get a loan with an online loan app, such as RupeeRedee, almost instantly. The speciality of applying for a loan through RupeeRedee is that the person can get the loan without the discrimination of being salaried or self-employed from the convenience of their home, just by fulfilling the criteria set by the lender. There are several things you have to know before applying for a loan. They are: Eligibility requirements and documents Read the eligibility criteria if you apply for an online personal loan through an app. You can only get an instant cash loan if you fulfill the lender’s requirements. But the eligibility criteria are very normal, and any person with proper documents can easily fulfill them. For apps such as RupeeRedee, you should be a person between 18 to 65 years of age with a minimum salary of Rs 15,000 per month, a valid address proof like Aadhar, voter id, or driving license, PAN card, the latest photograph, and bank statement. If you think you tick all the requirements, then go ahead and get your loan today.

  2. Document processing Money loan apps such as RupeeRedee has tie-ups with NBFCs, which have a set of criteria for verifying your documents. If the lender finds your documents have enough information to match their requirements, they immediately sanction the loan. The document verification can take a few hours to days. From next time onwards, you can get the loan with a single call since all the information they require gets stored in their database. Interest on Loan It is always important for you to know the interest rate that the NBFC charges during the repayment of the EMIs of your loan. You can find the details of the interest rate and other terms in the online loan app RupeeRedee. Always read all the documents carefully before signing up for a loan. Non- repayment of a loan can affect your credit score. Time of repayment As a borrower, it is your duty to pay the EMIs on time. Timely repayment can boost your credit score to get higher loans and avoid penalties. Through the money loan app RupeeRedee, NBFCs can levy penalty charges for delayed repayments. Read the terms and conditions in the app for detailed information about the penalties. But, if you contact RupeeRedee early to inform them about possible payment delays, they can help you get additional time by talking to the lender. Spending restrictions Best loan apps like RupeeRedee allow you to spend the loan for any purpose like medical expenses, travel expenses, house renovation, paying school fees, rent payments, etc., except for wealth management such as investments and trading in any instruments. But several other loan apps allow you to spend for specific purposes and with specific merchants only. Additional charges When you take an online personal loan, money apps such as RupeeRedee facilitate small loans by partnering with lending agencies such as the NBFCs. So because of the service they provide, they levy a service charge which is proportional to the tenure and the value of the loan, which they will collect during the closure of the loan. Also, they levy a processing fee of around Rs 400 with GST at the time of the disbursal of the loan to your account. Collaterals An online loan appsuch as RupeeRedee doesn’t ask for collateral to provide loans. They only consider the information you provide, along with your credit score and monthly income. That’s why it is much easier to get loans through app lenders than banks. Also, based on your repayment history, they can increase the loan amount without any additional documents. Conclusion

  3. The money loan app is a boon to people who require loans instantly and for a shorter duration. These micro-loans allow you to fulfill your dreams like going on a holiday trip or buying a smartphone that you have been looking forward to buying or paying for unexpected expenses. These loans come with a nominal interest rate with minimal eligibility requirements. RupeeRedee, the online loan app, is one of the best loan apps in twenty cities and provides cash loans from Rs 5,000 to Rs 25,000. They have proper customer service in case of any difficulties you face during or after the loan process.

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