Loanbaba

Loanbaba is the best instant personal loan app in India, providing fast and convenient financial solutions. Get an instant small personal loan of up to Rs. 100,000 in just 30 minutes by applying for our flagship product, the Small Cash Loan. Here’s a detailed overview of what Loanbaba offers and how you can get started:

Key Features of Loanbaba

Instant Personal Loans: Borrow up to Rs. 100,000 without any collateral.

Fast Processing: Loan sanction in just 5 minutes and disbursement in as low as 30 minutes, subject to customer completing the full on-boarding journey.

Flexible Tenure: Choose a repayment period ranging from 3 months to 18 months.

Interest Rate: Competitive interest rates from 18% to 48% per annum.

No Hidden Charges: Transparent terms with no pre-payment or pre-closure charges.

Secure Transactions: Highly secure HTTPS with 256-bit encryption ensures your data is in safe hands.

Advantages of Using Loanbaba

RBI Registered & Regulated: Lending via RBI registered and regulated Non-Banking Finance Company (NBFC), Amros Commercial Pvt Ltd. (https://www.amros.in).

Paperless Application: Completely paperless process, making it convenient and efficient.

Digital Video KYC: Fully digital RBI approved video KYC process.

Easy Repayments: Flexible repayment options with the ability to foreclose anytime.

How to Get Started

Install the Loanbaba App: Download the Loanbaba app from the Google Play Store.

Select Loan Product: Choose the Small Cash Loan and apply.

Verify Internet Banking: Follow the prompts to verify your internet banking.

Accept Terms and Select Tenure: Review and accept loan terms, and choose your repayment tenure.

Complete Video KYC: Keep your PAN card and Aadhaar card handy for the video KYC process.

Configure Auto Debit: Set up auto debit for repayments.

eSign Loan Agreement: Electronically sign the loan agreement.

Loan Disbursal: Once approved, the loan amount is disbursed to your bank account.

Example Loan Calculation

Personal Loan Example:

Loan Amount: Rs. 50,000

Tenure: 12 months

Interest Rate: 20% per annum

Processing Fee: Rs. 1,500 (3%)

GST on Processing Fee: Rs. 270 (18%)

Total Processing Fee Including GST: Rs. 1,770

Amount Disbursed: Rs. 48,230

Total Interest: Rs. 10,000

Total Payable: Rs. 60,000 (Principal + Interest)

EMI: Rs. 5,000

Eligibility Criteria

Nationality: Indian citizen.

Identification: PAN card and Aadhaar card mandatory.

Employment: Salaried individuals only.

Age: Above 23 years.

Income: Minimum net monthly salary of Rs. 20,000 (cash salary not acceptable).

Required Documents

PAN Card

Aadhar Card

Current Address Proof

3 Months’ Bank Statement

Customer Risk Profile Wise APRs

Low-Risk Profile: 18% to 24% APR

Medium-Risk Profile: 24% to 36% APR

High-Risk Profile: 36% to 48% APR

Operational Cities

Loanbaba is operational PAN India, serving customers across the country.

Become a Business Associate

Referral Program: Become our business associate, start referring leads, and earn commissions on every disbursal.

Enroll: Simply enroll as a business associate through the app