CredFin : Get Money in Minutes 0.2.2

Credfin: Smart Lending for a Better Financial Future

Credfin positions itself as a practical solution for individuals seeking accessible and efficient financial assistance. The application prioritizes user experience with its intuitive interface, allowing users to obtain the necessary funds quickly. Its design accommodates various platforms, guaranteeing access at any time and from any location, whether through a web browser or mobile device.

The app incorporates several essential features that users expect from a loan service, focusing on convenience, rapid processing times, and stringent data protection measures to ensure a secure borrowing process.

Key Features:

• No security deposit required
• No hidden costs
• Loan amounts ranging from ₹5,000 to ₹2 Lakhs
• Loan tenure options between 62 days and 365 days
• Annual Percentage Rate (APR) ranging from 0% to 36%
• Fully digital process
• Available anytime, anywhere via mobile access
• Minimal documentation requirement
• Instant approvals for completed applications
• Direct transfer of funds to your bank account upon approval
• Transparent terms with no hidden surprises

Why Choose Credfin?

• User-friendly interface
• Robust security and data protection
• Easily manageable repayment options
• Quick approval process

Eligibility Criteria:

• Salaried individuals
• Age above 21 years
• Minimum take-home salary of ₹15,000 per month

Required Documentation:

• PAN card
• Aadhaar card
• Bank statement of salary account

Sample Calculation:

Loan Amount: ₹20,000
Tenure: 3 Months
Interest Rate: Flat 36% per annum
Processing Fees (including GST): ₹708
Disbursed Amount: ₹20,000 - ₹708 = ₹19,292
Flat Interest: ₹20,000 * (3/12) * 36% = ₹1,800
Total Repayment Amount: ₹20,000 + ₹1,800 = ₹21,800
Monthly EMI: ₹21,800 / 3 = ₹7,267
Total Cost of Loan (Interest + Processing Fees): ₹1,800 + ₹708 = ₹2,508.

Interest Rates and Other Charges:

• Interest rate ranges from 0% to 36%
• Late payment charges not exceeding 8.33% per month on the amount due (minimum of ₹500 + GST)
• Mandate reject charge: ₹250 + GST
• Bounce charges: ₹500 + GST
• No prepayment charges
• Processing fees (including GST) range from ₹590 to ₹11,918 depending on loan amount and tenure

Approval Process:

1. Log in to the app.
2. Fill in basic details and upload required documents.
3. Select loan amount and tenure.
4. Receive fund transfer to your account.

Safety & Security Measures:

• SMS access to evaluate creditworthiness and determine loan offers.
• Device information securely links the application to the user's phone.
• Location data facilitates loan serviceability and improves KYC processing.
• Camera access simplifies the upload of personal images for application purposes.

The organization collaborates with RBI-compliant NBFCs like Arham Finance & Investment Services Ltd. For further information or support, contact via email at [email protected].