LogicLoan - Credit Assistant

About LogicLoan - Credit Assistant

LogicLoan places an approved revolving credit facility within reach while the unused portion remains free of charge. A single digital profile assessment establishes the available ceiling, and that capacity stays reserved in the app until you request a draw. Charges begin only on the portion released and continue solely for the days that balance remains open.
Set the draw size yourself, examine every payable figure before authorising it, and choose when to clear the balance. Once repayment is recorded, the approved capacity returns immediately for later use, subject to the standing of your account.
Key Features
Application Review Starts at Submission
Send your application from any location and LogicLoan begins the automated assessment as soon as it arrives. Branch counters, long queues, and repeated callbacks are removed from the process, allowing the credit outcome to reach you promptly.
Set the Draw to the Present Need
Select the precise amount required today from within the approved ceiling rather than accepting a preset bundle. Only the chosen portion is released, while the unused capacity remains available for another occasion.
Costs Appear Before Authorisation
Before you approve a draw, LogicLoan presents the principal, daily rate, total interest, and final repayment amount together. The figures shown at confirmation are the figures payable, with no concealed charge or buried condition.
Earlier Clearance Shortens the Charge Window
Interest runs only while an unpaid balance exists. Clearing the draw before its scheduled end carries no early repayment penalty and stops further daily interest on the settlement date, reducing the overall amount paid.
Protection Covers Every Data Path
Information is protected during transfer, while stored, and whenever the account is accessed. Encryption, controlled permissions, and continuous automated supervision work together throughout the day and night.
Repaid Capacity Returns Without Re-enrolment
After the outstanding amount is settled, the full approved limit becomes usable again immediately. No additional application, repeated document submission, or new waiting interval is required.
Credit Line Details
• Credit Line Range: INR 3,000 – INR 50,000
• Minimum Loan Term: 91 days
• Daily Usage Rate: up to 0.065% per day
• Maximum Annualized Rate (APR): up to 23.73%
When the unpaid balance has been cleared, the limit automatically returns to the complete approved amount and can be used again at once, subject to the current status of your account.
Cost Illustration
This worked example demonstrates how a daily usage rate accumulates across a representative draw period; it is provided only for illustration.
• Amount Drawn: INR 10,000
• Daily Rate: 0.065%
• Usage Period: 100 days
Cost Breakdown
INR 10,000 × 0.065% × 100 days = INR 650
Total Repayment: INR 10,650
Your final repayment reflects both the amount released and the exact number of days it remains unpaid. Choosing a smaller draw, settling sooner, or making partial repayments can lower the eventual cost.
Eligibility Requirements
• Be at least 18 years of age — You must have reached legal adulthood and be able to enter a credit agreement under Indian law.
• Hold a valid government-issued ID document — Identity confirmation requires a current, verifiable document issued by an Indian authority, such as Aadhaar, PAN, Passport, or an equivalent credential.
• Pass LogicLoan's eligibility assessment — Access is provided only after LogicLoan's automated and impartial assessment confirms that the submitted profile satisfies the applicable credit standards.
Customer Support
From account setup through repayment guidance, the LogicLoan support team is available to address product-related questions. Each message is reviewed by a person familiar with the service, and a timely response is provided.
Customer service email: [email protected]