Loans range from ₹2,000 to ₹50,000
Tenure: 62 days to 15 months. Interest rates range from 0%-29.95% depending on risk profile of customer and product availed
Example: If loan amount is ₹50,000 & interest is 22% per annum with tenure of 62 days; after deducting fees
Interest = ₹50,000 x 22%/365 x 62 = ₹1,868

Loan Raja Features:
1. No credit history required.
2. 100% paperless and digital process on mobile.
3. 24x7 access to loans.
4. Directly disbursed to your bank account.
5. Can be accessed Pan India.
6. Convenience of payment through various methods.


Eligibility:
1. Indian Resident.
2. Above 21 years old.
3. Source of monthly income above ₹15,000

Amount, Tenure, Fees & Charges

Loan amount: ₹2,000 to ₹50,000, Tenure: 62 days-12 months. Interest rates range from 0%-29.95% with equivalent monthly interest rate of 0%-2.49% only. A small processing fee is charged for loans e.g. for low risk customers 0%-3% of the principal, for very high-risk customers 2.5%-6.5%*. The charges and repayment tenures vary based on creditworthiness and repayment ability of the customers.

Penalty is charged only when someone delays their scheduled payment.

The APR for different products is separate as per the risk profile of the customers. The APR for different personal loan products: low risk customers is 0%-36%, medium risk customers is 18%-39%, high risk customers is 24%-42% and very high-risk customers is 24%-70%.

In addition, GST will be applicable only on the fee components as per Indian laws.

Example

A new low risk customer availing personal loan for salaried can avail a loan of ₹50,000 at an interest rate of 22%, processing fee of ₹1,250 for a period of 12 months and onboarding fees of ₹350. This would translate to an APR 25.2%.

Contact Us:
Customer Service Email: [email protected]
Customer Service Phone: 0645225203
Address: Nh31, Line Bazar, Purnia, Bihar, 854301