₹5 Lakh from home without guarantee by phone Digital Online Instant Loan with an estimated example. Keep in mind that this is just an example, and actual figures may vary. Always exercise caution and thorough consideration before taking a loan.
Digital Online Instant Loan Interest & Fees
Interest Rate: You may need to pay an annual interest rate of up to 36%, starting from 25%.
Processing Fee: You could be charged a processing fee of up to 10% or a maximum of ₹10,000.
Penalties: If you fail to make repayments on time, you may incur daily penalties.
Additional Fees: There are no advance fees like joining or annual fees required for this loan. However, if you opt for NACH approval and a payment bounces for any reason, you’ll be charged a bouncing fee by both the loan provider and your bank.
GST: You will have to pay 18% GST on all applicable charges.
Digital Online Instant Loan Eligibility
- Age should be between 21 to 59 years.
- You must be an Indian citizen.
- You need a source of monthly income.
- Your Aadhaar must be linked to your mobile number.
- You need a smartphone and internet access to apply.
- A savings account is required.
- NACH approval may require internet banking or a debit card.
- The loan provider’s services should be available in your city.
Digital Online Instant Loan
Your monthly EMI for 24 months will be around ₹33,333.
Over 24 months, you would have made a total repayment of ₹8 lakhs.
The total cost of the loan to you will be approximately ₹3,20,000.
So, the overall cost of the loan will exceed 40%, which is quite high. Therefore, it’s advisable to
Digital Online Instant Loan Documents
- PAN Card
- Aadhar Card
- Online Selfie
- Aadhar OTP will be required to sign the loan agreement online
- Bank statement will be required to take a loan here