Loanwalle is a fintech that offers personal loans in as less as 15 minutes. They offer loans of up to Rs.1 lakh. The interest is calculated on a daily basis and the rates start at 0.9% per day. The company features easy documentation, quick application processing, and instant money transfer after approval.
|Interest rate||0.9% to 1.5% per day|
|Loan amount?||Rs.5,000 to Rs.1 lakh??|
|Loan tenure??||30 days|
|Admin fee||Rs.500 to Rs.9,000|
|Late payment charges||1.8% to 3.0% per day|
|Cheque bounce charges||Rs.1,000 per instance|
|Part prepayment charges||No charge|
|Foreclosure charges||No charge|
If you wish to apply for a loan from Loanwalle, you need to check your eligibility first. Given below are the eligibility criteria:
1. How safe is it to apply for the loan online?
Loanwalle offers the highest levels of security when you apply for their loans online. All the personal and financial information you provide is encrypted and stored securely.
2. Once I apply for the loan, how long will I have to wait for a reply?
Loanwalle usually gets back to applicants within minutes after they apply online. In case they need extra confirmations or documents from you, they may take some more time to contact you.
3. Will I be able to get the maximum loan amount of Rs.1 lakh if I apply for it?
The company determines the loan amount you’re eligible for based on a number of factors such as your income, expenses, existing liabilities, and credit score. They will only sanction an amount that they feel you will be able to repay comfortably.
4. Can I get a top-up loan?
No, Loanwalle does not offer top-up loans at present. You can apply for another loan only after you finish repaying the one you’ve already taken.
5. Once I finish repaying my current loan, how soon can I apply for another one?
You can apply for another loan as soon as you finish paying your current loan. However, the condition is that you should pay back your current loan on time.
6. How can I foreclose or prepay my loan?
You can foreclose your loan in the following ways:
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