RapidPaisa Description
RapidPaisa, an instant loan app, can approve and disburse funds in as little as 30 seconds. The entire application process is app-based and requires only an Aadhaar, PAN, and selfie. There is no requirement for a credit rating. Individuals aged between 22-59 with a monthly income of at least Rs10,000 are eligible applicants. This includes both salaried employees and self-employed individuals. Interest rates start at 1% per monthly period. Repayment terms range from 3-12 months. The platform charges a fee of Rs349 for processing, and there are no membership or upfront costs. RapidPaisa offers a transparent and safe borrowing experience by utilizing advanced IT and maintaining cost transparency. The service is designed for a variety of financial needs such as bill payment, medical expenses, travel and vehicle repairs. It provides a reliable solution to users in India.
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