|Truecaller Loan Details|
|Interest Rate||16% p.a. onwards|
|Loan Amount||Rs.10,000 to Rs.5 lakh|
|Loan Tenure||3 months to 18 months|
|Processing Fee||Dynamically calculated|
The features of the Truecaller Loans can be listed as follows:
At present, Truecaller is extending the loan facility to salaried individuals only. The eligibility criteria for salaried applicants are being listed below:
|Credit Score||At least 650|
|Monthly in-hand salary||
The fees and charges associated with Truecaller Loans can be summed up as follows:
|Late Payment Fees||Nil|
|Processing Fees||Dynamically Charged|
|Document Pick-up Fees||Nil|
The documents required for the application process of Truecaller Loans are as follows:
|Proof of Identity||Aadhaar card, PAN card, etc.|
|Proof of Current Address||Rent agreement, utility bills, etc.|
|Proof of Income||3-month salary account statements|
You can apply for a loan through Truecaller mobile phone application. You will be required to follow the steps mentioned below, to apply for a Truecaller Loan:
Step 1: Open the Truecaller mobile phone application.
Step 2: Go to the loan application option and open it.
Step 3: Upload the necessary documents along with the filled-up application form for your loan requirement.
Step 4: Submit the application form.
Step 5: Once the application has been processed, Truecaller will verify and scrutinise the submitted documents and assess your creditworthiness.
Step 6: If the loan application is approved, Truecaller will send you a NACH form.
Step 7: You will be required to print, fill-up, and sign the NACH form. This filled-up form has to be scanned and forwarded back to Truecaller.
Step 8: On the receipt of the NACH form, Truecaller will send you the loan agreement on your mobile application.
Step 9: The loan agreement has to be reviewed and submitted by you.
Step 10: Get the loan amount credited to your bank account.
You can open the Truecaller application on your mobile phone and check the banking tab to find out if you are eligible for a Truecaller Loan.
The loan amount for Truecaller Loans will be decided as per Truecaller’s policies. Your loan application will be used to decide the loan amount that you are eligible for.
No, at present, Truecaller allows you to apply and avail on loan only. However, you can foreclose the existing loan account at any point in time and avail a fresh loan through Truecaller.
Yes, through the NACH form, an instruction is given to your bank to make a payment on your behalf. Through this method, the repayment for your loan account will be made automatically.
No, at present, Truecaller does not allow you to change the EMI payment dates.
The EMIs for Truecaller Loans are collected on the 5th of every month.
Although Truecaller does not charge any late payment fees, it is advised to make timely EMI payments to avoid defaulting which has an adverse effect on your credit score.
Yes, Truecaller will send you in-app push notifications for the Truecaller Loan EMI payments.
You willl receive the EMI reminders for your Truecaller Loans two days before the due date and on the due date.
Your Truecaller Loan application will be rejected in case of discrepancies in your documents. Truecaller will get back to you to complete the process and do the needful.
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