OptaCredit is an online lender that offers personal loans to salaried professionals across India. These loans are short-term unsecured loans with flexible loan tenures. OptaCredit uses a data-driven underwriting process that helps evaluate applicants quickly and approve a loan if complete and accurate documents are submitted on time.
Features of OptaCredit
The main features of OptaCredit loan are:
- The minimum loan amount is Rs.20,000 and the maximum loan amount is Rs.5 lakh.
- The minimum loan tenure is 2 months and the maximum loan tenure is 36 months.
- There is no need to present a collateral for this loan.
- Choose the loan tenure based on your preference.
- There are no hidden charges associated with this loan.
- Get the loan approved and disbursed directly to your bank account.
- The standard due date for the loan is on the 7th of every month.
- There are no pre-payment charges for this loan.
- Repay the loan through direct debt service, cash deposit, fund transfer, or cheque.
OptaCredit Interest Rates
The interest rate and other charges of OptaCredit loan are:
- The flat interest rate is between 8.88% p.a. to 15.8% p.a. (based on the applicant profile and credit history).
- The processing fee is 2.5% of the approved loan amount that will be deducted at the time of disbursement.
Eligibility criteria for OptaCredit loans
The following are the criteria to be eligible to apply for an OptaCredit loan.
- You must be a resident Indian citizen.
- You must earn a monthly salary above Rs.12,000.
- You must be employed for a minimum period of 6 months (probation period must be completed).
How does OptaCredit work?
The loan process is explained below. Check what you need to do and how the process works.
- You can submit an online application on the OptaCredit website.
- You will be contacted by an OptaCredit representative once your details are verified.
- The representative will collect the application form and mandatory documents if they cannot be e-signed.
- Upon complete verification of your documents, your loan will be approved and disbursed directly to your bank account on the next working day.
Documents required for OptaCredit application
The documents required to apply for an OptaCredit loan are:
- Copy of Aadhar card
- Copy of PAN card
- Latest salary slips (3 months)
- Latest bank statements in original PDF format (6 months)
How to apply for an OptaCredit personal loan?
Read on to know how to apply for this loan facility.
- You can visit the OptaCredit website and complete the available application form.
- You need to upload the mandatory documents.
- You will receive an e-sanction once your loan application is approved.
- You can opt to e-sign your documents and the loan agreement or you can schedule a pick-up by an OptaCredit representative.
- Once your documents are verified, your loan will be disbursed.
OptaCredit customer care number and contact details
| Business name
| Phone number
|| 044-3957 3757
| Official mail ID
| Web address