New Personal Loan App Review 2024
New loan app is a financial services platform which aims to help improve the financial health of frontline workers in India New Loan App acts as a bridge between the frontline workers and the big/banks NBFCS by providing a simple and clear process for access to loans for the next billion population of India. The NBFC which is currently available on our platform is NDX P2P private limited.
A user can avail Instant cash Personal loans of up rs. 25,000 at a 1% – 3% interest rate with no other hidden charges we charge a small processing fee of rs. 200 to rs. 600 exclusive offers GST.
A representative example of the total cost of the personal loan including all applicable fees:
Highlights from New Personal Loan App
- Finance amount : up to 25,000
- Repayment tenure : minimum 3 months to maximum 6 months
- Rate of interest / annual percentage Rate : minimum 20% to maximum 50%
- Processing fees : rs. 200 to rs. 600 (exclusive of GST)
Sample New Loan App Example :
- Amount : rs. 10,000
- Interest rate : 1.5% monthly simple interest
- Tenure : 3 months
- EMI frequency : monthly
- Processing fees : rs. 300
- Disbursed amount : rs. 9,700
- Total interest payable : rs. 450
- Monthly payment : rs. 3483.33
- Total payment in 3 months : rs. 10,450
- Overall cost : rs. 750 ( including rs 450/ as interest and rs. 300/ as processing fee)
- APR : 30.4%
Interest rate and processing fees vary as per your product.
