How to take loan from mobile phone

How to take loan from mobile phone: Nowadays people need money for their needs. For which they need such a medium that can fulfill the need of money immediately. Loan is a better option for the need of money. Loan can be taken from mobile without going anywhere to take loan. Many types of loans can be taken through mobile.

Taking loan from mobile is sometimes the solution to the problem related to the need of money. If there is a sudden need for a loan, the loan can be taken through mobile. How to take loan from mobile in this article? And many important things related to mobile loan have been told which gives proper information regarding mobile loan.

Taking loan from mobile to meet your needs in the form of loan is called mobile loan. In which the loan is applied from mobile. Loan can be given through online service of finance company or bank using mobile app from mobile itself.

Many types of loans can be taken in the form of loan from mobile. Like – Home Loan, Car Loan, Shop Loan, Personal Loan, Property Loan, Gold Loan, Education Loan etc.
Documents required for mobile loan

Documents required for mobile loan

Some documents are required to take a loan from mobile, which have to be submitted while applying for the loan. The documents required for the loan are as follows:

1. pan card
2. Aadhar card
3. Passport
4. driving license
5. as address proof
6. residential certificate
7. as salary proof
8. Salary Slip (last 3 months)
9. Bank statement (last 3 months)

Eligibility for taking loan from mobile

To take a loan from mobile, one has to fulfill certain qualifications which are necessary for the loan. Loan is approved only on the basis of loan eligibility. Some of the eligibility criteria for availing a mobile loan are as follows:

1. Must be a citizen of India for the loan.
2. Receives every month’s salary in the bank.
3. Age should be minimum 21 years and maximum 55 years.
4. The borrower should have salary account proof.
5. Mobile number should be linked with Aadhaar.
6. You provide the facility of loan app wherever the borrower lives.
7. PAN card, Aadhaar card, bank statement of the borrower.

Advantages of Mobile Loan

There are many benefits of taking loan from mobile. Because of which you can take loan from mobile. The advantages of mobile loan are as follows:

1. Mobile loan Loan can be easily obtained with the help of mobile sitting at home without going anywhere.
2. Loan up to 5 lakh can be availed through mobile loan.
3. Through mobile loan, loan can also be obtained from Aadhaar card and PAN card. Many times loan is also available without income proof, without security and without guarantee.Fees and charges for taking loan from mobile There are some fees and charges for taking loan from mobile, which have to be paid on taking loan from mobile. Some of the mobile loan fees and charges are as follows: processing fee The processing fee for taking loan from mobile is around 2% to 5%. Rate of interest On taking a loan, interest is charged from 20% to 36% of the loan. The interest depends on the credit score of the loan. GST GST on the loan is basically up to 18% of all fees and charges. Penalty The penalty depends on whether the EMI is paid on time or not. If the loan is not repaid on time, there is a penalty on the loan. extra fees There are some extra fees and charges for taking loan from mobile. When the loan amount is deposited, some extra charges are levied on the basis of debit card, wallet, UPI, etc. Information based on interest on taking loan from mobile On taking a loan from mobile, some interest is charged on the loan, which can vary many times, but basically the interest on the loan is up to 20%. Let us know how the loan based interest rate is applied from mobile. For example, if a loan of one lakh is taken, then the processing fee will be 5% and GST will be Rs 5,900. Whose payment time will be 12 months, then up to Rs 94100 can come in the account. If interest is charged on this amount at 20%, it will be Rs 20000 which will be given for 12 months. Thus the total deposit amount will be Rs.120000 and the expenditure will be around Rs.26000. It may also be different.
4. If the borrower does any job then he can take the loan.
5. If needed, loan can be availed instantly from mobile.
6. Time available for repayment of loan amount is 3 months to 36 months.
7. No matter where you live, you can apply for a loan with the help of mobile.
8. Mobile Loan Loan can be availed through 100% digital paperless process.
9. No other prepayment has to be made before loan repayment.
10. If the payments are made on time, the loan can be limited and the credit score also increases.
11. Applications issued for loan from mobile are approved by RBI and registered with NBFC.

Along with the benefits of mobile loan, it should also be kept in mind that the interest rate on these loans is 36% per annum. If the loan is taken for the first time, then the loan is less but gradually it can be increased if the loan is deposited on time.

How to take loan from mobile

If there is a need for a loan suddenly or when necessary, then the problem of money can be solved by taking a loan from mobile. The problem of money can be overcome by applying online for loan from mobile.

Loan can be applied for loan through loan app through internet connection from mobile. All types of loans such as business loan, home loan, personal loan, two wheeler loan, car loan etc. can be availed in the form of loan from mobile.
How to take loan from mobile:

1. To take loan from mobile, first install Navi loan app on mobile.
2. After installing the loan app, create your account on the app.
3. On creating an account in the loan app, submit your personal information and bank account information in the app.
4. After completing your KYC details in the loan app, upload the required documents for the loan.
5. After uploading the documents, Esign with the help of OTP to get the loan offer.
6. Now get EMI Auto Debit approval for NACH approval.
7. After all these procedures, when the loan is approved, the loan amount is transferred to the bank account.

Information related to mobile app

• Mobile Loan App Estimated Loan Amount Estimated Interest Rate App Rating
• Pay Sense Rs 5000 to Rs 5 lakh 1.08% to 12.33% 4.3
• Money Tap Rs.3000 to Rs.5 lakh 1.08% to 12.03% 4.8
• Rich (Dhani) Rs 1000 to Rs 15 lakh 1% to 13.17% 3.9
• Google Pay Rs 1000 to Rs 5 lakh 1.33% to 12.50% 4.2
• India Lends Rs 1000 to Rs 15 lakh 2% to 3% 4.5

How to apply online loan from mobile

One can apply for loan from mobile while sitting at home. To take a loan, one has to go to the official website of mobile and click on the loan option there and choose the type of loan to be taken and follow the further process. The form given for the loan has to be filled with your correct information.

After that, you have to download the required documents that have been asked, before that check your eligibility and also find out other information correctly. Submit the form after filling all the information, there is a submit option on that page, it has to be clicked. The registered number related to the loan comes. After all these processes are completed, the bank checks your documents and eligibility. If you are eligible for the loan, the loan is transferred quickly.

FAQ about How to take loan from mobile phone