The All In One "App Based Loan" Thread

Tagging few members from this thread: https://www.desidime.com/forums/hot-deals-onlin...
BCC

Udio: MakeMyWish- 1% Cashback on top up

Users who successfully applied for the loan using Udio Mobile Application shall be entitled to receive 1% Cashback as Udio treats to their Udio wallet. (“Offer”)
The cashback shall be credited only after disbursement of drawdown loan into the customer’s Udio wallet

This offer is valid during 31st July 2018, to 2nd August 2018, 23:59:59 hrs. (“Offer Period”).
This Offer would be applicable only to Users using the latest version 2.2.0 of Udio Wallet Mobile App available on the Google Play Store.

Eligible customers to whom loan is disbursed until 2nd august 2018 shall be eligible for the Offer. Incomplete Application/Failed/Cancelled loan customers shall not be eligible for the Offer.

full details: https://offers.udio.in/makemywish-1-cashback-on...

I took a lone through Dhani app. After the KYC process through Aadhaar and PAN, it showed me that I am eligible for 2L loan. Then, it asked for bank details to create an auto debit and I had to log into the bank for the app to create a mandate. All document signing process was electronic and it went through NSDL.

Whole process took just 5 minutes. Most of the details were auto-populated from Aadhaar.

Processing fee for 2L was around 7k change and I unchecked insurance, which reduced the processing by 3k, otherwise it was around 10k. EMI for 3 years was 7.7k per month. Interest rate is 22.5%/year.

I was satisfied with the process. It was simple and Amazing fast disbursal. Just clicked finish and within a minute or so, the amount was credited into my bank account. Already, I have a loan of 2L from ICICI is running and I had to sign a bunch of documents and had to attach my employer’s letter, bank statement, etc. etc. and took more than 3 weeks. But, ICICI offered loan at 18% interest rate. Processing fee was 10k.

Hope this helps.

Udio is offering loan to only Delhi, Bangalore, Mumbai residents.

@larrylevine Looks good. 😀

How is this different from getting a loan against your credit card? The interest rates would be cheaper as well ?

Flipkart coming soon…
https://www.desidime.com/forums/hot-deals-onlin...

Yes…it’s per annum rate. I am into imitation jewellery business and returns are 20-30% and on some items, I get nearly 50% returns. Business volumes are not so high, so this ROI is considered normal. Retail sellers sell them for 200-300% more.

Yes…you are right, but getting money was very fast without any paperwork or submitting any supporting documents. That was what I needed at that moment.

Which is best app to get loan of 50k amount with lowest rate of interest ad other charges?