Bueno Gig Growth Technologies Pvt Ltd ("Bueno Finance") is a financial services platform which aims is to help improve the financial health of our customers. Through the application, a customer can apply for instant cash loan. This application helps you to build your credit history and get you higher ticket loans at lower rates.
The customer journey starts with Silver level, where the customer gets access to instant cash loan (upto Rs. 5000) at zero interest rate, zero processing fee and no other hidden charges. We charge a small processing fee of Rs 200/- until the first three levels (Silver, Gold and Platinum). At prime level, the customers gets access to big ticket size loan at 15%-20% APR.
a. Minimum and maximum period of repayment : Silver level (15 days to 60 days), Gold level (61 days to 3 months), Platinum level (3 months to 6 months), Prime level (6 months - 4 years)
b. Maximum APR : 50%. We charge 0% APR for the first three levels.
c. Example of cost of loan:
Amount : Rs 5000
Tenure: 45 days
Service fee: Rs 200
Interest amount : Rs 0
APR = (200/5000)*(365/45) = 32%