ClearLoan

ClearLoan is an innovative online loan platform offering a variety of carefully selected loan products to meet the diverse needs of its users. We provide a secure and diverse range of loan products, ensuring that all your financial requirements are met. With ClearLoan, you have access to a professional loan marketplace, allowing you to apply for various loan products with ease.

Products Information

Repayment Period: Minimum of 90 days (including renewals) and a maximum of 730 days (including renewals).

Maximum Annual Percentage Rate (APR): 35%.

Loan Amount: Ranges from ₹2,000 to ₹3,00,000.

Average Interest Rate: Between 1.35% to 2.9% per month, depending on the product availed.

Transaction Fee: None.

Processing Fee: 2% to 3.3%.

Representative Example

For instance, if you borrow ₹50,000 for 90 days with all applicable fees included, the total cost of the loan is ₹4,699 (₹3,699 interest + ₹1,000 processing fee).

Here’s a specific example:

Loan Amount: ₹50,000

Interest Rate: 30% per annum

Processing Fee: 2%

Tenure: 90 days, repaid over 3 EMIs.

The interest payable is calculated as follows:

Interest: ₹50,000 * 30% / 365 * 90 = ₹3,699

Processing Fee: ₹50,000 * 2% = ₹1,000

Including all applicable fees, the total cost of the loan is ₹4,699 (₹3,699 + ₹1,000).

Your monthly EMI would be calculated as: (₹50,000 + ₹3,699 + ₹1,000) / 3 = ₹18,233 per month.

Eligibility Criteria

To apply for a loan with ClearLoan, you must meet the following criteria:

Residency: Must be an Indian resident.

Age: Between 20 and 56 years old.

Income: Must have a source of monthly income.

How It Works

Applying for a loan with ClearLoan is simple and convenient:

Install the App: Download the ClearLoan app from Google Play.

Choose a Loan Product: Select the loan product you wish to apply for within the app.

Fill Out Your Information: Provide your details and submit the application.

Confirm the Loan Agreement: Review and confirm the terms of the loan agreement.

Await Approval: Wait for the loan approval and fund disbursement.

Your privacy is extremely important to us. We guarantee that your personal information will never be shared without your explicit permission. All data is handled with utmost confidentiality.

ClearLoan offers a secure, reliable, and user-friendly platform for accessing various loan products tailored to meet different financial needs. Download the ClearLoan app today and experience the convenience of managing your financial requirements with ease and confidence.