LoanVanta - Line of credit

About LoanVanta - Line of credit

LoanVanta is a digital financial service platform developed by Konsala Super Technology Private Limited. The app helps users access digital line of credit services provided by regulated lending partner S.B.N. Leasing and Finance Limited through a simple and streamlined mobile experience.

With LoanVanta, users can register accounts, complete identity verification, review available credit line limits, check utilization and repayment information, and manage account-related services directly within the app.

Key App Functions
Mobile registration and account setup
Identity verification process
View available line of credit limits from regulated partners
Access funds within approved credit limits
Track utilization, repayment schedules, and account details
Digital repayment support within the app
Customer assistance and in-app support services

LoanVanta is designed to provide a user-friendly digital experience with transparent information displayed throughout the process.

Simple Application Process
Download and install LoanVanta
Register using your mobile number
Complete the required verification steps
Review available credit line options
Select an amount to utilize within the approved credit line
Access funds after approval into your verified bank account
Repay digitally through supported payment methods

Line of Credit Information
Eligible Credit Amount: ₹3,000 – ₹90,000
Repayment Tenure: 90 – 210 days
Daily Interest Rate: 0.05%
Service Fee: Up to 2% of utilized amount
GST: 18% applicable on service fee
Annual Percentage Rate (APR): 22% – 28%

Representative Example
Approved Credit Line: ₹60,000
Utilized Amount: ₹60,000
Repayment Period: 210 days
Interest: ₹6,300
Service Fee (2%): ₹1,200
GST on Service Fee: ₹216
Total Charges: ₹7,716
Amount Accessed: ₹60,000
Total Repayment Amount: ₹67,716

Privacy & Security
LoanVanta uses standard security measures to help protect user information. Personal data is collected only for necessary functions such as identity verification, eligibility assessment, customer support, and account management.

Users can review the Privacy Policy within the app for detailed information regarding data collection and usage practices.

Important Information
LoanVanta operates as a digital platform that connects users with regulated financial service providers and facilitates access to line of credit services. The app does not directly issue credit or make lending decisions.

All approvals, terms, utilization limits, and fund access are managed by registered NBFC partners in accordance with applicable regulations.

Users may choose to utilize only part of their approved credit line, subject to partner terms and eligibility requirements.

Users are encouraged to review all applicable terms, repayment obligations, and charges carefully before accepting any financial service product.

For support or assistance, users can contact customer service through the app.