Bitsyyloan App - Get Instant Loans Online

Loans range from ₹3,000 to ₹500,000

Tenure: 61 days to 36 months. Interest rates range from 0%-29.95% depending on risk profile of customers and product availed.

Example: If loan amount is ₹50,000 & interest is 22% per annum with tenure of 91 days; after deducting any other fees
Interest = ₹50,000 x 22%/365 x 91 = ₹2,742

Bitsyyloan is an Instant Personal Loan App & Credit Platform for Young Professionals across India, where anyone can apply for Personal Loan Online & avail up to ₹ 5 Lakh as Direct Cash Transfer to Bank Account.

Loan Types

Personal Loan - A Personal loan option where you can avail loans within 10 minutes of app install as direct bank transfer. All you need is your PAN Card, ID & Address Proof, and you can avail from ₹2,000 to ₹500,000 for a tenure ranging from 61 days to 36 months.

Features

1. 100% Online process
2. Minimal documentation
3. Fast approval
4. Immediate bank transfer

Benefits & Risks

1. Get access to higher amounts & tenures as you repay on time.
2. As compliance requirement your payment behavior is shared with credit rating agencies; based on that your credit score may increase/decrease.

Eligibility

1. Indian resident
2. Above the age of 21 years
3. Should have monthly source of income

How to get started

1. Install Bitsyyloan App
2. Register through your Phone Number
3. Fill in your basic details to check first level eligibility
4. Upload KYC documents - ID, Address Proof & PAN card
5. E-sign with your Aadhar number.
6. Avail Loan as bank transfer.
Amount, Tenure, Fees & Charges

Loans amount: ₹2,000 to ₹500,000, Tenure: 61 days-36 months. Bitsyyloan charges one-time service fee while onboarding or during upgrade which is ₹30-₹350 depending on the risk profile and membership band availed by customer. Interest rates range from 0%-29.95% with equivalent monthly interest rate of 0%-2.49% only. A small processing fee is charged for loans e.g. for low risk customers 0%-3% of the principal, for very high-risk customers 2.5%-6.5%*. The charges and repayment tenures vary based on creditworthiness and repayment ability of the customers.

Penalty is charged only when someone delays their scheduled payment.

The APR for different products is separate as per the risk profile of the customers. The APR for different personal loan products is 0%-35%.

In addition to it, GST will be applicable only on the fee components as per Indian laws.

*The higher charges are only for loans of lower amount and lower repayment tenure.

Example

A new low-risk customer availing personal loan for salaried can avail a loan of ₹50,000 at an interest rate of 22%, processing fee of ₹1,250 for a period of 12 months, and onboarding fees of ₹350. This would translate to an APR of 25.2%.

Interest Calculation

If loan amount is ₹50,000 & interest is 22% per annum; and loan is to be repaid over 12 EMIs, then overall interest payable is ₹6,157 only. The EMI per month would be ₹4,680 only.

Contact Us:
9311414951 9311414065 9311414954 8057026749 9311414064 9311414067

VAPSMART TECHNOLOGY Pvt. Ltd
Address
Office - 1117 Tower B2 ,Spaze I-Tech Park , Gurugram -122018