The Timely Loan platform in India takes care of urgently needed personal finances.
All that is needed for the complete online process is a mobile device.
Features:
- Loan amount: between Rs. 2,500 and Rs. 30,000
- Term of Loan: 120 to 180 days
- 18% to 32% yearly percentage rate
- The processing cost ranges from 8% to 18% of the loan balance.
- Late fees total 0.5% of the loan amount each day (This fee will only be charged for overdue)
an example of a loan
- If you receive one of the loans listed
- The borrowed sum was 10,000.
- Loan term: 150 days
- APR: 20%
- 2,000 rupees (20% of the loan amount) would be deducted from the payout as the processing fee.
- 15% x 150/365 * 10,000 = Rs 822 is the interest rate.
- The total amount due is Rs 10822.