PrimeLoan-Loan Calculator

About PrimeLoan-Loan Calculator

PrimeLoan
PrimeLoan is a digital credit management application that helps users view, track, and manage their revolving credit line in an easy, clear, and reliable way.
After completing the eligibility assessment process, eligible users can be granted a personalized credit limit on the platform. There are no fees for not using the credit line. All costs apply only when the user actually uses the credit line, making financial decisions and managing usage even easier.
Key Features
Credit Overview Panel
View your approved credit limit, current utilization, outstanding balance, and transaction history all in one place.
Flexible and Convenient Credit
You decide when, how much, and how you want to use your available credit line.
Fully Transparent Pricing
All applicable interest, fees, and usage rules are clearly displayed before confirming the transaction.
No Idle Fees
If any of the credit line is not used, there are no term fees or maintenance costs.
Secure Data Management
Using advanced security systems and encryption techniques, the user's personal and financial data is ensured to be completely secure.
Credit Limit Details
Possible Credit Amount: Rs. 1,000 – Rs. 50,000
Maximum Usage Period: Up to 365 days
Daily Usage Rate: Up to 0.05% per day
Maximum Annual Rate (APR): Up to 18.25%
Service Charge: Up to 1% of the amount used
The approved credit limit remains available within the prescribed limit and can be reused repeatedly as per the account rules.
Cost Calculation Example
This example is presented only to illustrate the cost calculation.
Credit Amount Used: ₹10,000
Usage Period: 100 Days
Daily Usage Rate: 0.05%
Interest Amount: ₹10,000 × 0.05% × 100 Days = ₹500
Service Fee: ₹10,000 × 1% = ₹100
Total Repayment Amount: ₹10,600
Charges are calculated based on the actual credit usage days. Actual costs may vary depending on the usage period, amount, and specific account terms.
Eligibility Requirements
To use the app's services, users must meet the following basic requirements:
Be at least 18 years of age
Have a valid government ID
Meet the basic eligibility criteria set by the platform
Customer Support
If you have any questions, suggestions, or need assistance, please contact our customer service team.
Customer Service Email: [email protected]