| Interest Rate | 32% |
| Duration | From 7 Days |
| Access Level | Public |
| Company Name | ACE Private Limited |
| Phone 1 | |
| Phone 2 | |
| Website or Store | |
| Address | Indira Nagar Rd, Sector 9, Indira Nagar, Lucknow, Uttar Pradesh 226016 |
| Category | Dangerous Loan |
| Company Email | ACEPLC2021@outlook.com |
| Views | 84 |
Onstream Loan stands out as a premier instant personal loan platform, constantly optimizing and improving its functions to provide users with superior performance and trustworthy loan services. With Onstream Loan, you can enjoy high loan quotas that grow as your credit score improves, ensuring that you have access to the funds you need, when you need them.
Loan Amount and Tenure
- Loan Amount: ₹3,000 to ₹2,00,000
- Loan Tenure: 91 days to 180 days
Onstream Loan offers flexible loan amounts and tenures, allowing you to tailor your borrowing to your specific financial needs.
Key Characteristics of Onstream Loan
- Loan Amount Range: ₹3,000 to ₹2,00,000
- Repayment Periods: 91 days to 180 days
- Annual Percentage Rate (APR): 3.5% to 12% per annum
- Processing Fees: Range from 2.5% to 5% (with 18% GST applied)
- Late Fees: Up to 0.1% daily late fees for late payments, capped at 18% of the principal amount overdue
- No Hidden Fees: Enjoy the peace of mind that comes with a transparent loan process
Example Calculation:
For instance, let's consider a loan amount of ₹3,000 at an APR of 12% per annum with a tenure of 91 days:
- Interest Calculation:
Interest=₹3,000×12%/365×91=₹90\text{Interest} = ₹3,000 \times 12\% / 365 \times 91 = ₹90
- Processing Fee Calculation:
Processing Fee=₹3,000×3%=₹90\text{Processing Fee} = ₹3,000 \times 3\% = ₹90
- Total Cost of the Loan:
₹90(Interest)+₹90(ProcessingFee)=₹180₹90 (Interest) + ₹90 (Processing Fee) = ₹180
- Total Loan Amount to Repay:
₹3,000+₹180=₹3,180₹3,000 + ₹180 = ₹3,180
- Monthly Repayments:
Monthly Repayment=₹3,180/3=₹1,060\text{Monthly Repayment} = ₹3,180 / 3 = ₹1,060
Loan Requirements
To qualify for a loan through Onstream Loan, you must meet the following criteria:
- Indian Resident: Must be a citizen of India.
- Bank Account: Must have a valid bank account.
- Age: Must be above 18 years old.
- Valid Documentation: Must provide necessary identification documents.
- Monthly Income: Must have a regular source of monthly income.
Why Choose Onstream Loan?
- Simple to Use: The app is designed for easy navigation and user-friendly experience.
- No Bank Credit Card Required: Access loans without needing a credit card.
- 24/7 Access: Apply for and manage your loans anytime, anywhere.
- High Loan Approval Rate: Benefit from a high rate of loan approvals.
- Quick Personal Loan Approvals: Enjoy fast processing and approval of personal loans.
How Onstream Loan Works
- Download the App: Install the Onstream Loan app from the Google Play Store.
- Register: Create an account using your mobile number.
- Submit Loan Information: Fill out the application with your personal and financial details.
- Upload Documents: Provide the necessary identification documents for verification.
- E-Sign the Agreement: Complete the application by electronically signing the loan agreement.
- Receive Funds: Once approved, the loan amount is credited to your bank account.
Conclusion
Onstream Loan is your reliable partner for instant personal loans. With its competitive interest rates, flexible repayment options, and user-friendly digital platform, Onstream Loan ensures that you can access the funds you need quickly and securely. Whether you require a small loan for an emergency or a larger amount for significant financial needs, Onstream Loan provides the financial support you need. Download the Onstream Loan app today and experience hassle-free borrowing with confidence.
Expert Counsel
While loan apps may appear to provide a quick fix for financial issues, they often come with significant risks. Here are ten crucial tips to protect yourself when using online lending platforms:
1. Brace for Aggressive Follow-ups if You're Late
Even a slight delay in repayment can trigger a barrage of messages, often on apps like WhatsApp. If these messages become overwhelming, consider blocking the sender to protect your peace of mind.
2. Resist Borrowing from Multiple Apps
Taking loans from different platforms to cover existing debts can lead to a deeper debt cycle. Avoid this approach to maintain financial control.
3. Beware of High Late Fees and Interest Rates
Missing payments can lead to daily interest charges that range from 5% to 7%, causing your debt to grow rapidly. Try to avoid missing deadlines to prevent accumulating excessive interest.
4. Only Download Apps from Official Stores
Stick to trusted sources like the Google Play Store when downloading loan apps. Unverified sites can compromise your privacy, exposing you to cyber risks.
5. Consider Safer Alternatives
Many loan apps are structured to trap users in cycles of debt, impacting financial stability and privacy. Seeking out more secure and traditional financial options can help avoid these pitfalls.
6. Watch for Short Repayment Periods
Some apps set repayment terms as short as 6 to 14 days, making it hard to repay on time and often leading to debt traps. Ensure you’re comfortable with the repayment schedule before borrowing.
7. Protect Your Privacy and Reputation
Loan apps sometimes contact family or friends to pressure borrowers, potentially harming your reputation. For some, this is reason enough to avoid these apps entirely.
8. Break the Borrowing Cycle
The best way to escape high-interest debt is to stop borrowing altogether. While it might be challenging initially, taking a break from these loans is essential for financial recovery.
9. Use Call-Blocking Apps Like Truecaller
Apps like Truecaller allow you to screen and block unwanted calls from lenders, helping to reduce stress from persistent calls and messages.
10. Report and Block Aggressive Contacts
If you receive abusive or threatening messages on platforms like WhatsApp, block the sender and report them to both WhatsApp and the app store to help protect others from similar harassment.
By following these guidelines, you can protect yourself from the risks of predatory loan apps and safeguard your financial well-being. Staying vigilant and making informed decisions is essential for ensuring your financial security. If you find yourself in a financial bind, consider reaching out to reputable financial institutions or seeking advice from trusted financial advisors instead of turning to dubious loan apps. Taking proactive steps now can save you from significant financial stress in the future.
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