VirexaLoan-Quick Loan

VirexaLoan is a digital Line of Credit platform that helps eligible users in India access and manage credit facilities offered by regulated lending partners.
Unlike a one-time loan, a Line of Credit provides an approved credit limit that users can access when needed. Eligible users may make partial or multiple withdrawals within their available credit limit during the validity period, subject to the terms and approval requirements of the lending partner.
Through VirexaLoan, users can view their credit limit and available credit, submit withdrawal requests, review repayment details, and manage credit usage.
Key Features
Flexible Line of Credit
Eligible users may receive an approved credit limit and access only the amount they need. Multiple withdrawals may be available within the approved limit, subject to applicable terms and approval requirements.
Simple Digital Application
Applications are completed online and may require identity verification and supporting information requested by the lending partner.
Clear and Transparent Costs
Before requesting a withdrawal, users can review applicable interest rates, service charges, and repayment schedules determined by the lending partner.
Credit Line Details
Subject to credit assessment and approval by the lending partner:
Credit Limit: ₹3,000 – ₹90,000
Withdrawal Tenure: 90 – 150 days per withdrawal
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Processing Charges: 5% – 6% of the withdrawn amount
Documentation Charges: 1% of the withdrawn amount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% applicable on service charges
APR Range: 8.76% – 29.69%
Interest is calculated only on the amount withdrawn and the applicable usage period. Unused credit does not incur interest. Following repayment, available credit may be restored within the approved limit, subject to the applicable facility terms.
Representative Example
For a withdrawal of ₹10,000 for 120 days:
Principal Amount: ₹10,000
Interest: ₹600
Processing Charge (5%): ₹500
Documentation Charge (1%): ₹100
GST (18% on service charges): ₹108
Total Charges: ₹1,308
Total Repayment Amount: ₹11,308
APR: 29.69%
Actual charges may vary according to the approved credit terms.
How the Line of Credit Works
Users complete an application and verification, undergo credit assessment, and may receive an approved credit limit. Once approved, eligible users can request withdrawals from their available credit, review applicable terms, and repay each withdrawal according to the agreed schedule. After repayment, available credit may be restored within the approved limit, subject to the lending partner's terms.
Eligibility & Requirements
Eligibility and approval decisions are determined solely by the lending partner according to applicable regulations and internal risk policies.
Users may be required to:
Be a resident of India
Meet minimum age requirements set by the lender
Provide valid identification and financial information
Complete required verification procedures
Submitting an application does not guarantee approval.
Important Disclosures
VirexaLoan is a technology platform for accessing and managing Line of Credit facilities provided by regulated lending partners. VirexaLoan does not provide lending services or make credit approval decisions.
Credit limits, withdrawal approvals, interest rates, service charges, repayment terms, and other applicable conditions are determined by the respective lending partner and presented to eligible users before they access funds.
Data & Security
Personal data is processed in accordance with the Privacy Policy and applicable data protection regulations. Information may be shared with authorized lending partners and service providers when necessary to provide and support the services.