LoanZor - Credit Assistant

ERITHEIA

About this app

LoanZor places an approved revolving credit facility on standby, giving you a dependable source of funds without charging merely for keeping it open. One profile assessment establishes the limit; it then remains ready until you decide that a draw is necessary.
You direct both the amount and timing of every withdrawal. Charges apply solely to the sum taken and only across the days for which that balance remains unpaid, so unused availability creates no cost.
Key Features
Instant Credit Position
See the approved credit limit, current outstanding amount, and funds still available together on one orderly screen, making your precise position clear without searching through separate areas.
Borrow at the Moment You Choose
Set the exact withdrawal amount and choose when the funds are required. LoanZor gives you control over the size and timing of each draw without another application, a branch visit, or renewed waiting.
No Concealed Costs
Every applicable fee, rate, and term is placed upfront in plain language before you continue, so the commitment is fully visible prior to confirmation.
No Charge While Idle
Leaving the credit line open costs nothing. Interest and fees start only on the particular days during which the funds you have drawn are actually in use.
Credit Line Details
• Credit Line Range: INR 3,000 – INR 50,000
• Minimum Loan Term: 91 days
• Daily Usage Rate: up to 0.065% per day
• Maximum Annualized Rate (APR): up to 23.73%
After the outstanding balance is cleared, the entire approved limit restores itself automatically and becomes immediately available again, subject to the account's current standing.
Cost Illustration
This purely illustrative calculation demonstrates the way daily-rate interest builds during a representative period of use.
• Amount Drawn: INR 10,000
• Daily Rate: 0.065%
• Usage Period: 100 days
Cost Breakdown
INR 10,000 × 0.065% × 100 days = INR 650
Total Repayment: INR 10,650
What you finally owe varies according to the sum withdrawn and the duration for which that balance stays unpaid. An earlier payment can decrease the overall expense.
Eligibility Requirements
• Be at least 18 years of age — Indian law requires an applicant to have reached legal adult age before entering into a credit agreement.

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