LiberalLoan - Personal Loan App Features:
1. Personal Loan: from Rs 8,000 to Rs 1,20,000 without
any guarantor or collateral;
2. 100% No Paper loan application
;
3. From 91 days to 365 days
;
4. Maximum annual interest rate: 28%
;
5. Transparent fee structure
;
6. Multiple payment methods Repayment
Loan Example:
For 20,000 with an annual interest rate of 28% and a tenor of
90 days Rupee loan, based on the above calculation, the total
amount to be paid on the maturity date is as follows:
Total
personal loan interest = Rs 20,000 × 28% ÷ 365 days × 91 days
= Rs 1,544.06
Processing Fee (PF) + GST = £750 + £300 + £300 + £150 + £150
+ £300 = £1950
Total Deductible (PF + GST): Rs 590
Existing Amount (Loan Amount – Total Deductible) = Rs 20,000
– Rs 590 = Rs 19,410
Total Repayment (Loan Amount + Interest + Deductible):
Total Repayment Amount = Rs. 20,000 + Rs. 1,544.06 + Rs. 590
= Rs. 22,134.06
Monthly EMI Repayment (Total Repayment/Loan Tenor):
Monthly
EMI to be repaid = Rs. 22,134.06 /3 = Rs 7,378.02