Want to borrow from the app? Learn all the rules related to it.
Applying instant personal loan through the app, you get a personal loan of Rs 5 thousand to 15 lakh. Its annual interest rate can range from 12% to 24%. This loan can be given for 5 years.
You do not need to go round the banks to get it. There are many online apps which provide instant personal loan without sitting at home and without paperwork. However, during this time there have been many such cases in which the borrower has to face problems after taking a loan. Experts are giving complete information about online instant personal loans through the app.
How do you get loan from the KreditOne?
App companies ask for information like Aadhar card number and PAN online from the person applying for the loan. During this time these companies demand the mobile number which is linked to the Aadhaar card.
After taking all the information, the company checks the qualification of online. If the documents of the applying person are found to be correct according to the merits of the company, then the loan amount is transferred to the applicant’s account within a few minutes.
These are the scale of merit.
Salary, age, credit score, category of the company in which the applicant is employed, activity on social media, education, transactions through bank account. Different companies may have different scales to check an applicant’s eligibility.
These documents are needed
Aadhar Card, PAN, Mobile Number, Email ID, Salary Slip, Bank Account Number, Bank IFSC Code, Six Month Bank Statement. All these documents should be in JPEG or PDF format. The documents sought may be more or less according to the lending companies. It should be noted that the base and pan should be linked to each other. Also, the mobile number should also be linked to Aadhaar.
This is how EMI cuts
While granting the loan, the company connects the bank account of the applicant to the loan account. For this, agents of some companies come to the home of the borrower and some sign on the papers. Of these, there is a loan agreement and a bank paper. After this, the EMI of the loan is deducted from the bank account on a fixed date.
These are the rules for not paying EMI on time-
All the lending institutions are required to follow these guidelines of the Reserve Bank (RBI). Know, what can the lending institutions do and what not according to RBI guidelines with those who do not repay EMI on time.
Keep these things in mind before taking a instant personal loan:-
- Do not sign any document connected to the read unread.
- Know the complete rules related to recovery.
- Know the rules related to party payment, also from the lending institution. Many institutions charge some for repaying debt prematurely and some at all.
How to apply.
Click on the link or image below to download the app and apply online.