Personal Loan APP - My Kredit

MyKredit is a mobile based Instant Personal Loan Platform. Users can apply for a Personal Loan of up to Rs 50,000 from RBI-approved NBFC Manhattan Financial Services Ltd.

The application process is completely digital, and once approved, the funds are transferred immediately to your bank account.

Amount, Tenure, Fees & Charges

Loan Amount: from ₹ 2,000 to 50,000.

Tenure: 91+ days (minimum period, including renewal period), up to 180 days (maximum period, including renewal period)

Maximum Annual Interest Rate: 35.04 % per annum.

EMI calculation Example

If loan amount is ₹50,000 & interest is 35.04% per annum; and loan is to be repaid over 6 EMIs (180 days ), then overall interest payable is ₹8,640 only. The EMI per month would be ₹9,773 only.

Interest Calculation

loan amount is ₹50,000,

Loan term 6 Months (180 days),

ROI 35.04% per annum,

Interest Payable = ₹ 50,000*35.04%/365*180 = ₹8,640,

Equated Monthly EMI ₹9,773.33 per month for 6 months,

Total amount repaid =₹50,000+ ₹8,640 = ₹58,640.

Fee:

Technology/Platform fee on the loan is: ₹300

One Time on boarding fee: ₹120

Tax on the Technology/Platform fee (GST at 18%) = ₹300 * 18% = ₹54

Tax on One Time On boarding fee (GST at 18%): = ₹120 * 18% = ₹21.6

Total Cost of the Loan(with all taxes):

Total cost of the loan: ₹8,640 + ₹300 + ₹120 + ₹54 + ₹21.6 = ₹9,135.60

APR % = 37.05% (=₹ 50,000/₹9,135.60*365/180)

Users will be charged a late payment penalty fees only when users delay their scheduled payment.

MyKredit, delivers the best customer experience, world-class product and services, Secure and safe engagement.

Why MyKredit?

- Apply anytime from anywhere.

- All Indian citizens from anywhere across India are eligible.

- Customers with low or no credit history are eligible.

- Decision is made instantly.

- When approved, sanctioned amount is credited to your bank account immediately.

- Convenience of automatic repayment along with other payment modes.

- No pre-payment penalty if loan is repaid before due date.

- 24*7, process of loan, so that you can avail loans even on holidays

What kind of documents need to apply for MyKredit loan?

All we need from you are:

- A Selfie

- Your PAN card details

- One government ID

- Address proof

How does MyKredit works?

- Install MyKredit app from Google Play Store.

- Register yourself via your mobile.

- Fill in the information and upload relevant documents

- E-sign the agreement.

- Get money on approval.

Which States does MyKredit service?

We provide Personal loan in PAN India.

Who can apply for a loan?

• All Indian nationals residing in India

• Anyone with an Android phone and a working internet connection

• Anyone above 18 years of age

• Valid bank account and PAN card

Security:

Our process are highly compliant with industry standard security protocols. Data is transported over secured HTTPS connections. All transactions are secured via a 256-bit SSL encryption. We do not share your data without your consent.

Contact Us:

Customer Service Email: care@mykredit.in

Address: 805B, Plot no A-42/6, Sector 62, Noida (UP).