LoanCrownup - Cash Loan

About LoanCrownup - Cash Loan

LoanCrownup provides digital tools for viewing and managing an approved Line of Credit facility in India.

The platform is designed to help eligible customers keep track of their available credit, understand the cost of using credit, submit withdrawal requests, and monitor repayment information in one place.

Your Credit at a Glance
Once approved by a regulated lending partner, customers can use LoanCrownup to review their credit facility and available amount.
The available credit changes with usage and repayment activity.
Use Credit as Needed
A Line of Credit does not require the full approved limit to be used at once.
Eligible customers may request withdrawals from available credit, subject to the lending partner's approval and applicable terms.
Interest is calculated only on the amount used and the applicable usage period. Unused credit does not incur interest.
When repayments are made, previously utilized credit may become available again according to the terms of the facility.

Review Costs Before Confirmation

LoanCrownup is designed to provide relevant cost information before a withdrawal is confirmed.

Depending on the facility, customers may be shown:

Utilized amount
Interest
Processing charges
Applicable taxes
Amount to be repaid
Relevant repayment dates

Indicative Facility Information
The following figures describe the indicative credit facility information applicable to the product:

Credit Limit: ₹3,000 – ₹100,000
Withdrawal Tenure: Up to 160 days
Credit Line Validity: 12 months
Interest Rate:** 0.05% per day on the utilized amount
Processing Charges: 5% – 6% of the withdrawn amount
Documentation Charges: 1% of the withdrawn amount
Taxes: GST at 18% on applicable service charges

These figures are indicative and do not constitute a guaranteed offer. The actual terms available to a customer depend on the assessment and approval of the relevant regulated lending partner.

Illustrative Cost Example

For illustration, consider a ₹3,000 withdrawal that remains outstanding for 160 days:

Amount utilized: ₹3,000
Interest: ₹240
Processing charge at 5%: ₹150
Documentation charge at 1%: ₹30
GST on applicable charges: ₹32.40

Total charges: ₹452.40
Illustrative amount repayable: ₹3,452.40

This example is intended only to explain the calculation. Actual pricing, charges, taxes, duration, and repayment requirements may differ according to the customer's approved facility.

Application & Verification

Credit access is subject to eligibility and approval. Customers may need to provide identity, financial, and other required information and complete verification procedures.

Applicants may generally need to:

Reside in India
Meet the applicable minimum age
Provide valid identity and financial information
Complete required verification
Meet the lending partner's credit and risk criteria

Applying does not guarantee approval or access to credit.

Credit Terms

LoanCrownup provides the technology for customers to access and manage information about their credit facility. It does not approve credit, set credit limits or interest rates, or decide whether withdrawals are approved.

These decisions are made by the relevant regulated lending partner according to applicable requirements and facility terms.

Repayment
Customers can review repayment amounts, charges, due dates, and other obligations through the platform. Applicable terms are determined by the approved credit facility.
Customers should review the displayed information before confirming a withdrawal or making repayment.

Information Handling
Information provided through LoanCrownup may be processed for account management, identity verification, credit services, servicing, security, fraud prevention, and regulatory compliance.

Where necessary, information may be shared with authorized lending partners and service providers in accordance with applicable requirements and the LoanCrownup Privacy Policy.