Loanbaba is an Android application which allows you to get an instant loan up to 100000 rupees. It is important to note that the service is intended for residents of India.
Credit
You need to apply and you can get a loan within 30 minutes. It is possible to access calculators for credit eligibility, EMI and others. The entire process takes place online and is paperless. This helps you save time and make it easier to receive. In addition, an interest rate ranges from 18 to 48 percent per year. Moreover, Loanbaba has no fees, prepayments or hidden charges. You can choose a repayment period of up to 18 months.
Furthermore, you do not need collateral to get a loan. The processing fee is from 2 to 5 percent for one time application. You can also view your credit history. Loanbaba is a great option if you need money urgently. Please note that this is the only official app and you should beware of fakes.
How to get
You need to install the utility, log in and specify the loan amount. After that, you have to confirm your online bank, select the term and accept conditions. An electronic contract will be sent to you for signature. It is possible to use an Aadhaar or PAN card to receive funds. In addition, there are some requirements for an application to be approved.
- citizen of India;
- only employees;
- age from 23 years;
- the minimum amount is 20000 rupees;
- the presence of a card;
Features
- just like Loangram, you can get a loan without visiting the bank;
- the maximum loan amount is 100,000 rupees;
- there is an option to access online calculators;
- compatible with current Android versions;
- free to download and use.
