MagicDhan

Loan Amount: from Rs 3,000 to Rs 10,000.
Interest Rate: not exceed 0.09% every day, up to 35.77% per annum.
Processing Fees: 10% - 20% (including loan processing fee, payment gateway fee, credit fee and GST). The fees will be reduced from the loan amount. Different level with different process fee.
Different processing fees for different credits.
GST: 18% of Processing Fee
Loan Tenure: 91 days and with a maximum of 180 days
For example, for a loan processed with principal amount of Rs 1,000 payable in 91 days, the interest is ₹1000 x 91 x 0.09% = ₹1000 x 8.19% = ₹81.9, processing fee is ₹1000 * 14% = ₹140(including 18% GST of processing fee, which is ₹118). You will receive ₹1000 - ₹140 = ₹860, the total amount due would be ₹1000 + ₹81.9 = ₹1081.9 .

MagicDhan, an loan, personal loan, cash loan and payday loan platform has released a brand new shock! Unsecured, pure credit, all online. Adhering to the philosophy of Inclusive Finance, MagicDhan is committed to providing convenient financial services to young Indian white-collar and blue-collar workers so as to meet their personal loan needs.
There is no cumbersome application and review process of traditional loans. At MagicDhan, you are able to submit your application simply by providing basic information such as ID proof and selfie. which is so simple and convenient to the applicant. Once your loan application is approved, the money will be directly transferred to the bank account you provided. Therefore, please do not hesitate to make a loan application and avail loan! MagicDhan is always here for you.

*** Repayment Plan:
The entire repayment will be divided into multiple periods, with a repayment installment every 14 days. In the first repayment period, you need to pay off the principal amount + the interest of first 14 days, and the remaining interest will be repaid in the remaining repayment period. Customers can pay off all loan, including principal and interest, at once in the first repayment cycle.

For example, if you want to lend ₹2000 for 91 days, the total repayment amount will be ₹2163. The repayment plan is:

● First EMI: principal + interest of EMI#1
Payment amount -- ₹2025.2 = (principal: ₹2000 + interest: ₹25.2)

● Second EMI： pay interest of EMI#2
Payment amount -- ₹25.2 (interest of EMI#2)

● Third EMI： pay interest of EMI#3
Payment amount -- ₹25.2 (interest of EMI#3)

● Rest of the installments are same as above until all the money are paid off

*** Eligibility
● Indian Resident
● 21-56 years old.
● Source of a monthly income.

*** How it works？
● Install the MagicDhan APP from the Play Store.
● Register an account.
● Select the product you would like to apply for.
● Fill out your basic information, then submit the application.
● After the submission, you may receive a call for verification. The final application result will be shown in the APP and you will be informed by SMS if approved.
● Provide the consent with the loan agreement after the approval.
● After the confirmation with the loan agreement, the approved loan amount will be disbursed into your account within 24 hours and a SMS notification will be sent.

***Our commitment
MagicDhan promises that we will adopt the highest security standards and do our utmost to ensure the security of your personal information. Without your authorization or consent, we will never disclose your information to anyone other than you or a third party.

We will collect Google Advertising ID for anti-fraud.

***Information About NBFC

Company Name:
Inditrade Fincorp Ltd


CIN:
U65923KL2007PLC021180


License No:
N - 16.00181


Register Office Address:
Second Floor, M E S Building, Kaloor, Kochi Ernakulam KL 682017 IN

***Contact us :
Email address: [email protected]
Website: https://www.magicdhan.in