RupeeRedee

20,203

RupeeRedee is a new-age financial services platform that leverages technology to make lending quick and easy. We facilitate access to
instant Personal Loans ranging from Rs 5000 to Rs 25000 for both Salaried and Self-employed customers by connecting borrowers with lenders.

Our lending partners follow a dynamic risk-based pricing model with loan terms & rates described below

Loan Amount: From ₹ 5000 to ₹ 25000
Loan Tenure: 62 Days with a maximum of 90 Days
Interest Rate: Upto 6% per month
Approval Fees: Ranges from Rs 499 to Rs 999 (Inclusive of GST)
Origination Fees: 11% (Inclusive of GST)
Collection Fees: 12.9% (Inclusive of GST)
GST: 18% of Fees

Representative Example of the total cost of loan is provided in example below:

Description All Amount are in INR Comments
Loan Amount ₹ 10,000
Loan Tenure 90 Days (3 Months)

Approval Fees ₹ 847 + 18% GST = ₹ 999 Flat Fees
Original Fees ₹ 932 + 18% GST = ₹ 1100 Upto 11% of Loan Amount
Interest Amount ₹ 600 Upto 6%
Collection Fees ₹ 1095 + 18% GST = ₹ 1293 Upto 12.9% of Loan Amount
Amount Credited: ₹ 7901

Total Repayment ₹ 11,893

Eligibility: Any Indian resident individual aged between 18 – 65 years having a minimum monthly income of ₹ 15,000, can apply for a loan through RupeeRedee. We don’t discriminate between salaried or self-employed applicants; all are welcome as long as minimum income criteria along with other conditions is met.

Documents Required:

1. Address Proof {acceptable documents - Aadhaar, Driving Licence, Voter ID}
2. Latest Photograph
3. PAN Card
4. Aadhar XML
5. Bank Account / Access to bank account details

Why Rupeeredee Needs the following Permissions:


Location - ACCESS_FINE_LOCATION
Explanation: To collect and monitor the location of your device and access serviceability of your loan application. This also
helps in quicker credit risk decision and ensure KYC compliance as per guidelines of regulator

Camera & Media Access - CAMERA, READ_EXTERNAL_STORAGE, WRITE_EXTERNAL_STORAGE
Explanation: To capture KYC documents and selfie for liveness test and ensure KYC compliance as per guidelines of regulator

Storage (Read and Write)
Explanation: To upload and download the identity documents for completing KYC process. This helps in expediting the KYC process for a faster approval and provides a seamless customer experience while using the app
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Additional information

Updated
23 June 2020
Size
11M
Installs
500,000+
Current Version
2.1.2
Requires Android
5.0 and up
Content Rating
Everyone
Permission
Offered By
Rupeeredee
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