Provide fast, easy, secure personal loans up to ₹5 lakhs.
How to apply for a personal loan online on RapiMoney?
● Install the RapiMoney app
● Register yourself on the loan app by verifying your mobile number and email using OTP
● Choose a personal or business loan as per your requirement
● Complete your KYC using AADHAAR & PAN
● Fill in your basic details & verify your bank account to know your loan eligibility
● Once the application is approved, we transfer the loan directly to your verified bank account
Which cities does RapiMoney service?
Currently, we are servicing – Delhi, Noida, Ghaziabad, Gurgaon, Faridabad, Lucknow, Kanpur, Varanasi, Karnal, Jind, Kaithal, Kurukshetra, Jaipur, Pune, Mumbai, Bangalore, Hyderabad, Chennai.
We are expanding very fast and will be available in your city, if not yet, very soon.
Features of RapiMoney
● Range of Loan(s) available from ₹5,000 – ₹5,00,000
● Repayment period from 3 months to 36 months
● No guarantors or collaterals are needed
● 100% paperless application process
● No salary slip is required
● Loan instantly credited to a bank account
● Loan repayment through various channels
Loan Amount: up to ₹ 500000
Minimum Period of Payment (Minimum Tenure): 3 months
Maximum Period of Payment (Maximum Tenure): 36 months
APR and Post Disbursal Charges:
The APR charged to the customer varies on the basis of the different products availed and risk profile of the customer. In addition, GST will be applicable only on the fee components as per Indian laws.
Representative example of the total cost of the loan
Sample 1
Loan Amount (Principal) : ₹50,000
Tenure: 12 months
Interest Rate: 25.04% (on reducing principal balance interest calculation)
EMI (Monthly payment): ₹4,753.18
Processing Fees (incl. GST): ₹1,770
Other Charges (incl. GST): ₹1,180
Total Interest Payable: ₹4,753.18 x 12 months - ₹50,000 (Principal) = ₹7,038.17
Net Disbursed Amount: ₹50,000 - ₹1,770 - ₹1,180 = ₹47,050
Total Amount Payable: ₹4,753.18 x 12 months = ₹57,038.17
Total Cost of the Loan with all taxes = Interest Amount + Processing Fees + Other Charges = ₹7,038.17 + ₹1,770 + ₹1,180 = ₹9,988.17
Annual Percentage Rate (APR) – 32.66%
Representative example of the total cost of the loan
Sample 2
Loan Amount (Principal) : ₹5,000
Tenure: 3 months
Interest Rate: 25.04% (on reducing principal balance interest calculation)
EMI (Monthly payment): ₹1,729.71
Processing Fees (incl. GST): ₹100.00
Other Charges (incl. GST): ₹100.00
Total Interest Payable: ₹ 1,729.71x 3 months - ₹5,000 (Principal) = ₹189.13
Net Disbursed Amount: ₹5,000 - ₹200 = ₹4,800
Total Amount Payable: ₹ 1,729.71x 3 months = ₹5,189.13
Total Cost of the Loan with all taxes = Interest Amount + Processing Fees + Other Charges = ₹189.13+100+100= ₹ 389.13
Annual Percentage Rate (APR) – 48.01%
Eligibility:
Any Indian resident individual aged between 18 – 65 years having a minimum monthly income of ₹ 12,000, can apply for a loan through RapiMoney ( if eligibility criteria met).
Requirements:
1. Address Proof {acceptable document – Aadhaar, should be linked to an active mobile number}
2. Selfie
3. PAN Card
4. Bank Account / Access to bank account details
5. Valid and active email and phone number
RapiMoney facilitates loans through RBI-registered NBFCs and Banks for it\s customers.
The NBFC\s we are working with are:
- Capital India Finance Limited https://www.capitalindia.com/
RapiMoney is a brand of RapiPay group https://in.rapipay.com/loans/
For help or any other details about RapiMoney, contact us at customercare@rapimoney.com or call us at +91 7304199000
Your data is safe with us. All the transactions are secured via SSL encryption. We don’t share your data with anyone, without your consent.
