Mudrakwik is India’s first truly instant loan application.
Loan Amount: From ₹ 1,000 to 5,00,000.
Minimum Period of Repayment – 90 Days
Maximum Period of Repayment – 500 Days
Maximum Annual Percentage Rate (APR) - The maximum interest rate is 20%per annum.
Processing Fee: 5% of the loan amount
Subscription Fees - 80 Rs. (The subscription is valid for three months, after the 3 months the subscription automatically expires and users have to renew the subscription to continue using the app and the offered services)
Loan Amount :- Rs. 50,000
Subscription Fees - 80 Rs (Upfront payment and Valid for three months. This fee is exclusive of all the fees and interest mentioned below and paid separately)
Processing Fees :- Rs. 2500 (INCLUSIVE OF GST)
Tenure – 3 Months
Interest Rate - 20% P.A.
Interest Amount :- Rs. 2,500
Amount will be disbursed Rs. 45,000
Each EMI will cost – Rs. 16,667
Total Repayment Amount will be Rs. 16,667 * 3 = Rs. 50,000
Description of sample calculation:-
A customer avails a personal loan of ₹50,000 at an interest of 20% per annum, where the processing fee is 2500 ( including GST ) for a period of 3 months, would end up paying ₹50,000 after 3 months. His monthly EMI would be ₹16,667
1. No credit history required.
2. Paperless and digital process on your mobile.
3. Get 24x7 access to loan anytime and anywhere.
4. Complete automated process using MI/ML
5. Disbursal in less than 5 minutes.
6. Available pan India.
7. No minimum salary criteria.
1. Indian Resident.
2. 18-45 years old.
3. Regular monthly income.
4.Only salaried can apply.
How it works？
1. Install the Mudrakwik APP from the Play Store.
2. Register an account.
3. Fill out your basic information, then submit the application.
4. Instant approval and money gets deposited in your bank in less than 5 minutes.
All the transactions are secured via a 256-bit SSL encryption. All the data are transferred over secured connections. We do not share your data with any third parties without your consent. Your data is totally safe with us.
Customer care: +918956039999