Easycredit

Are you in search of a reliable online loan app? EASYCREDIT loan app offers you EMI personal loans of up to Rs.1,00,000 in partnership with various RBI regulated NBFCs/Banks.

Important Things to Note About EASYCREDIT Loan App

Loan Amount: Rs 5,000 to Rs 1,00,000
Minimum Annual Percentage Rate (APR): 24%, Maximum APR: 36% (reducing balance)
Minimum repayment period: 3 months, Maximum repayment period: 12 months
Processing Fees: Max (₹350 + GST, Up to 1%-4% of loan amount plus GST)
Prepayment Fees: 2.5% prepayment amount
Late fee - In case overdues exceed 30 days, you'll be charged 2% of outstanding balance. Your bank may also levy charges in case of a bounce.

A representative example of the total cost of the loan:

✔ Amount Borrowed (Principal) = ₹15000/-
✔ Interest Rate (APR) = 36%
✔ Tenure = 6 months
✔ Processing Fee = ₹531
✔ Amount disbursed = ₹14,469
✔ Your EMI amount = ₹2769 (sample monthly payment based on PMT method)
✔ Interest amount = ₹2769 x 6 - ₹15000 = ₹1614 (sample interest calculation)
✔ Total Cost of Loan = Processing Fee + Interest Amount = ₹531+₹1614= ₹2145

Why should you download the EASYCREDIT Lone App?

Here are some of the features that make EASYCREDIT one of the best instant loan apps in India for salaried individuals!

1. Get money in bank account within 24 hours
2. No credit history required
3. We give loans across India!
4. Repay in affordable EMIs
5. No Hidden fees

Eligibility Criteria:

1. Salaried with minimum income of Rs.12,000 per month
2. Aged between 22-59 years
3. An Indian Citizen