Rupee112 - Loan Shark Review

Interest Rate	20%
Duration	From 30 Days
Access Level	Public
Company Name	DEV-AASHISH CAPITALS PRIVATE LIMITED
Phone 1	+91-91125-39112
Phone 2
Website or Store	www.rupee112.com
Address
Category	Mild Loan
Company Email	care@rupee112.com
Views	1,727

Step by step guide to break free from loan apps

About Rupee112

At Rupee112, we understand that life can present unexpected financial challenges. That’s why we’ve designed our Instant Personal Loan to be your reliable and compassionate financial partner, providing swift and hassle-free solutions when you need them most.

Highlights of Our Application Features:

Swift and Hassle-free Process: Enjoy a quick and straightforward application process.
Transparent Process Flow: Clear and transparent procedures without hidden charges.
Competitive Interest Rates: Benefit from affordable interest rates.
Secure and Confidential Platform: Your information is safe and confidential.
Flexible Loan Repayment Options: Tailored repayment plans to suit your financial situation.
Higher Chance of Approval: Increased approval rates for eligible applicants.
No Physical Verification: No need for in-person document verification.
Dedicated Executive Support: Access to dedicated support for your queries.
Digital eKYC and eSign Using Aadhaar: Fast and secure electronic verification.
Track Your Loan Application: Monitor your loan application status in real-time.

How Rupee112 Works:

Apply Online: Our user-friendly online application process allows you to apply for a personal loan from the comfort of your home. Fill in the required details and securely submit the necessary documents through our application.
Quick Approval: Once we receive your application, our team processes it swiftly. You can expect a prompt response, so you can address your financial needs without unnecessary waiting.
Get Funds Fast: Upon approval, the funds are disbursed directly to your bank account. Use the money to meet urgent financial requirements, whether for medical bills, education expenses, or unforeseen circumstances.
Easy Repayment: We offer flexible repayment options tailored to your financial situation. Choose a repayment plan that suits you best, making the process of paying back the loan convenient and stress-free.

Important Points to Consider Before Applying for a Personal Loan:

Loan Amount: Minimum ₹5,000 to Maximum ₹1,00,000
Repayment Tenure: Minimum 2 Months to Maximum 12 Months
Rate of Interest / Annual Percentage Rate (APR): 35% (Fixed)
Processing Fees: 2% of the Loan Amount
- Note: GST on Processing Fee (Exclusive) at 18%

Representative Example:

Loan Amount: ₹50,000
APR: 35%
Tenure: 12 months
Processing Fee: ₹1,000
GST on Processing Fee: ₹180
Amount Disbursed: ₹48,820
EMI: ₹4,998
Total Repayment Amount: ₹59,978
Total Interest: ₹9,978

About Us:

DEV-AASHISH CAPITALS PRIVATE LIMITED is a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). RUPEE112 is the brand name under which the company conducts its lending operations, specializing in meeting customers’ instant financial needs.

Digital Lending Partners:

We connect you with reliable NBFCs/Banks, ensuring you can secure personal loans without hassle. Every loan application is carefully reviewed and approved by RBI-registered NBFCs/Banks. Here are our Digital Lending Partners:

DEV-AASHISH CAPITALS PRIVATE LIMITED
DEVMUNI LEASING & FINANCE LIMITED
VRINDA FINLEASE LIMITED

App Disclaimer:

We take your privacy very seriously and will never share your personal information without your consent. When you download our app, we will ask for permissions to process your loan application:

Camera: To click document pictures.
Device Info: To detect fraud.
Files: To upload PDFs or images.

This information is strictly used to verify your identity and make the process digital.

Expert Counsel

Loan apps offer quick and convenient access to credit, often with minimal documentation and fast approval. However, they can be notorious for high-interest rates, hidden fees, and predatory lending practices.

How to Avoid Loan Apps

Build an emergency fund: Save 3-6 months' worth of expenses to avoid needing quick loans.
Create a budget: Track expenses, prioritize needs over wants, and allocate funds wisely.
Explore alternative credit sources: Consider banks, credit unions, or peer-to-peer lending platforms with more favorable terms.
Improve credit score: A good credit score can help you qualify for lower-interest loans.
Avoid unnecessary expenses: Cut back on discretionary spending to reduce the need for loans.

Precautions When Using Loan Apps

Read terms and conditions: Understand interest rates, fees, repayment terms, and penalties.
Check lender legitimacy: Research the lender's reputation, licenses, and regulatory compliance.
Borrow only what you need: Avoid taking more than necessary to minimize debt.
Set realistic repayment expectations: Plan to repay on time to avoid penalties and interest.
Monitor your credit report: Ensure loan app activities are accurately reflected.

How to Pay Loan Apps

Prioritize repayment: Pay on time to avoid penalties and interest.
Create a repayment plan: Break down debt into manageable installments.
Use automatic payments: Set up automatic transfers to ensure timely payments.
Consider debt consolidation: Merge multiple debts into a single, lower-interest loan.
Communicate with lenders: Inform them of financial difficulties to negotiate payment extensions or reductions.

What to Do in a Financial Crisis

Seek professional help: Consult a financial advisor or credit counselor.
Prioritize essential expenses: Focus on necessities like food, rent, and utilities.
Negotiate with creditors: Discuss payment extensions or reductions.
Explore government assistance: Look into programs like unemployment benefits or financial aid.
Consider debt restructuring: Work with a credit counselor to reorganize debt.

Red Flags to Watch Out For

Exorbitant interest rates: Rates above 36% APR are considered predatory.
Hidden fees: Look out for origination fees, late fees, or prepayment penalties.
Unclear repayment terms: Ensure you understand repayment schedules and amounts.
Lack of transparency: Be wary of lenders with unclear or misleading information.
Aggressive marketing: Be cautious of lenders with pushy or deceptive marketing tactics.

Additional Tips

Regulatory bodies: Familiarize yourself with local regulatory agencies, such as the Central Bank of Nigeria, to report suspicious lenders.
Loan app reviews: Research reviews from multiple sources to gauge lender reputation.
Financial education: Continuously learn about personal finance and responsible borrowing.

By being informed and cautious, you can navigate loan apps wisely and make better financial decisions