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About Instant Loan Guide

A mobile cash loan Android app is a financial app that provides users with quick access to short-term loans directly from their mobile devices. The app typically has an easy-to-use interface that guides users through the loan application process.

Users can apply for loans by providing personal information, such as their name, address, and employment details. The app may also require users to provide their banking information to facilitate loan disbursement.

Once the loan application is submitted, the app will process the request and notify the user of the approval or rejection status. If approved, the loan amount will be disbursed directly to the user's bank account, usually within a few hours.

The app also provides users with a dashboard to manage their loan repayments, view their repayment schedule, and make payments directly from their mobile devices. Users can set up automatic payments or manually make payments to repay their loans.

The app may also offer features such as loan calculators, repayment calculators, and loan renewal options. Some apps may also provide users with rewards and incentives for timely loan repayments.

Product Description
a. Loan Amount: Rs 1,000 ~ Rs 50,000
b. Loan term: 91 days to 365 days
c. The highest annual interest rate : 22%
Loan interest calculation:
Interest = Principal * Period (days) / 365 * APR
Total Repayment = Principal + Interest

Example
For example, the loan amount you apply for is 4,000 rupees, the loan term is 120 days, and the annual interest rate is 22% APR.
Monthly Interest=4000*(120/365*22%)/(120/30)=72.33
Monthly Repayment=4000/(120/30)+72.65=1072.325
Interest =4000*(120/365*22%)=289.315
Total Repayment=4000+289.32=4289.32

Overall, a mobile cash loan Android app is a convenient and quick way for users to access short-term loans directly from their mobile devices. However, users should be cautious and carefully review the terms and conditions of the loan before applying to avoid high-interest rates and hidden fees.