| Interest Rate | 30% |
| Duration | From 7 Days |
| Access Level | Public |
| Company Name | Royal Cash |
| Phone 1 | |
| Phone 2 | |
| Website or Store | |
| Address | Arafa Buildingchurch Circle Thrissur Kerala India 680001 |
| Category | Dangerous Loan |
| Company Email | royalcashloancs@gmail.com |
| Views | 348 |
Need quick cash to cover unexpected expenses? Royal Cash offers a seamless and secure solution for your financial needs. With our user-friendly platform, you can easily apply for loans ranging from Rs. 2,000 to Rs. 2 Lakh, with flexible repayment options and competitive interest rates.
Loan Information:
- Loan Amount: Rs. 2,000 to Rs. 2 Lakh
- Repayment Period: 95 days to 730 days
- Annual Percentage Rate (APR): 18% to 30%
- Processing Fees: 5% plus GST (minimum Rs. 100 + GST and maximum Rs. 5,000 + GST)
- Late Payment Fees: Up to 0.1% per day (capped at 18% of the principal amount overdue)
- No Hidden Fees: Transparent loan terms with no hidden charges
Example Calculation:
- Loan Amount: Rs. 75,000
- Tenure: 365 days
- APR: 24% (on reducing principal balance interest calculation)
- EMI: Rs. 7,092
- Total Interest Payable: Rs. 10,104
- Processing Fees (incl. GST): Rs. 4,425
- Total Cost of the Loan: Rs. 85,104
Note: The loan amount will be disbursed after deducting the processing fee. The borrower pays interest only on the utilized loan amount.
How to Apply:
- Sign Up/Register: Download and register on the Royal Cash Mobile App using your mobile number.
- Fill in Required Details: Provide your name, address, and bank account information.
- Upload Documents: Submit your PAN card, identity proof, and bank statement.
- Get Credit Limit Assigned: Receive your credit limit after approval.
- E-sign the Agreement: Complete the process with an electronic signature.
- Receive Funds: The loan amount will be credited to your bank account upon successful completion of the process.
Eligibility Criteria:
- Must be 18 years old or above
- Maximum age limit at the time of loan application is 56 years
- Must be an Indian citizen
- Should be a salaried employee
- Monthly net salary should not be less than Rs. 15,000
- Must have a minimum work experience of 6 months
Required Documents:
- Identity Proof: Driving License, Voter ID, Passport, Aadhar, or PAN card
- Address Proof: Driving License, Voter ID, Passport, Aadhar, Utility Bills, or Bank Statements
- E-sign: Fast-track your application with registered mobile and OTP
Features:
- 100% paperless process
- Loan limit up to Rs. 2 Lakh
- Flexible repayment options
- Online approval and sanctioning process
- Collateral-free personal loans
- Convert short-term personal loans to EMI term loans
Loan Uses:
- Education: Covering tuition fees and other educational expenses
- Medical: Paying for medical treatments and emergencies
- Wedding: Financing wedding expenses
- Home Renovation: Upgrading and renovating your home
- Buying Mobile: Purchasing a new mobile phone
- Travel Expenses: Funding travel and vacations
- Rental Deposit: Paying rental deposits
- Monthly Bills: Covering monthly utility bills
- Home Appliances: Buying home appliances, furniture, and other essentials
Security & Protection of Privacy:
Data security and privacy are top priorities at Royal Cash. We use SHA-2 and 2,048-bit encryption (the strongest security system in the market) and comply with SSL certification to protect your personal information.
Expert Counsel
10 Crucial Tips for Using Online Loan Apps
Although loan apps might seem like a quick solution to financial challenges, they often come with significant risks. Here are 10 important tips to keep in mind when using these online loan applications:
Expect Aggressive Messaging for Late Payments Even if you're just a day late on your repayment, you might face aggressive and harassing messages, especially on platforms like WhatsApp. If this happens, don’t hesitate to block the sender to preserve your peace of mind.
Avoid Borrowing from Multiple Loan Apps Resorting to other loan apps to repay existing debts can trap you in a never-ending cycle of borrowing. This practice often worsens your financial situation rather than improving it.
Be Aware of High Penalty Interest Rates Missed payments can result in daily interest rates ranging from 5% to 7%. These penalty rates can quickly balloon your debt, making repayment even more difficult.
Download Apps Only from Official Sources Always ensure you're downloading loan apps from trusted platforms like the Google Play Store. Downloading from unofficial sites puts your personal information at risk and can expose you to fraud or harassment.
Consider Skipping Loan Apps Altogether Many loan apps are designed to trap users in cycles of debt, often compromising their privacy and financial health. It's often safer to explore alternative, more secure financial options.
Watch for Short Repayment Periods Some loan apps offer repayment periods as short as 6 to 14 days, which can make it difficult to pay off the loan on time and increase the risk of falling into a debt trap.
Protect Your Personal Reputation In some cases, loan apps will contact your friends or family in an attempt to shame you publicly. Once this damage is done, some borrowers may feel there’s no point in repaying the loan, but avoiding the loan altogether is a better solution.
Stop Borrowing to Break Free The best way to escape the clutches of loan sharks is to stop borrowing. Though difficult, this step is necessary to regain control of your financial life and prevent further debt.
Use Call Management Tools Like Truecaller Truecaller is a great tool for blocking unwanted calls from loan apps, helping you manage stress and reduce harassment from lenders.
Report and Block Harassing Messages If you receive threatening messages, particularly on platforms like WhatsApp, take immediate action by blocking the sender and reporting them to WhatsApp and the Google Play Store. This helps protect others from similar harassment.
By keeping these tips in mind, you can shield yourself from the damaging consequences of predatory loan apps and safeguard your financial well-being.
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