Important Things to Note About Smart Loan
Loan amount: From₹ 2,000 to ₹ 10,000
Minimum repayment period: 91 days,
Maximum repayment period: 24 months
Minimum Annual Percentage Rate (APR): 24%, Maximum Annual Percentage Rate: 36% (reducing balance)
Processing Fees: Up to 2%-7% of loan amount plus GST
A representative example of the total cost of the loan:
Amount Borrowed (Principal): ₹ 4,000
Tenure :91 days（3months）
Interest Rate (APR) = 30% (on Reducing Principal Balance interest calculation)
Processing Fee (incl. GST): ₹330
Disbursed amount：₹3670
EMI amount: ₹1400
Interest amount: ₹1400x 3 months - ₹4000 Principal = ₹200
Late Fee ₹0 if paid on time
Total repayment amount = Principal repayment amount + Interest Amount + Fee = ₹4000+ ₹200 + ₹330 = ₹4530
Eligibility
1. Users should have Indian citizenship to apply for a personal loan
2. Borrowers age must be between 22-60 years old
3. Have a stable salary and good credit
Responsible Lending
Smart Loan has partnered with RBI-authorised & regulated NBFCs/Financial Institutions. Our policies and services are fully regulated and legally compliant.
Data Privacy and Security
We at Smart Loan instant loan app believe in data security and we are committed to comply with highest possible standards for the same. We ensure that the user data is properly encrypted and are secure. We use https to transmit data, and use the latest encryption technology on the server to store your data. We ensure that your data is in safe hands. We will never share data to the third party without your permission.
Notice: For a faster and safety process, we require the following App permissions:
Financial SMS
We read only transactional SMSs to ascertain the credit-worthiness and loan amount
Contacts
As a part of our loan journey, we require references from the Smart Loan Applicant.
Read Device Info -
To securely link the Smart Loan Application to the user's phone
Camera & Media Access
Helps you upload your selfie as a part of the application process
To read our Policy for details, visit: https://web-api.smart-place.in/privacy.html
Contact Us
For help or any other details about Smart Loan you may contact to us at：
[email protected]
Our office is located at - First Floor, Deshna Chamber,B/H Kadva Patidar Wadi
Ahmedabad, Gujarat 380014.
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