Fast Rupee

Fast Rupee is an Instant Personal Loan App and Credit Platform designed specifically for young professionals across India. With Fast Rupee, you can effortlessly apply for a personal loan online and receive up to ₹2 lakh directly in your bank account. This platform is a bridge between borrowers and NBFCs/Banks, ensuring that all loan applications are approved and sanctioned by RBI-registered entities. One of Fast Rupee's key partners is Krazybee Services Private Limited, a systemically important NBFC, which adds to the platform's credibility.

Loan Options Available

1. Flexi Personal Loan
   • Description: This flexible loan option allows you to avail loans within 10 minutes as a direct bank transfer. All you need is your PAN Card and Address Proof.
   • Loan Amount: ₹1,000 to ₹50,000
   • Tenure: 91 days to 6 months
2. Personal Loan for Salaried
   • Description: Tailored for salaried individuals, this option offers loan amounts from ₹10,000 to ₹2 lakh, directly transferred to your bank account.
   • Requirements: PAN Card, Address Proof, and Salary Proof
   • Tenure: 3 to 15 months
3. Online Purchase Loan
   • Description: Buy now, pay later in EMIs. This option allows you to avail E-vouchers on the Fast Rupee App and shop on partner platforms like Flipkart and Amazon, paying later in installments.

Loan Examples

1. Personal Loan for Salaried
   • Loan Amount: ₹50,000
   • Tenure: 12 months
   • Interest Rate: 20% per annum
   • Processing Fee: ₹1,250 (2.5%)
   • New Customer Onboarding Fee: ₹200
   • GST on Fees: ₹261
   • Total Interest: ₹5,581
   • EMI: ₹4,632
   • APR: 23.2%
   • Disbursed Amount: ₹48,289
   • Total Repayment Amount: ₹55,581
2. Flexi Personal Loan
   • Loan Amount: ₹10,000
   • Tenure: 3 months
   • Interest Rate: 27% per annum
   • Processing Fee: ₹500 (5%)
   • GST on Fees: ₹90
   • Total Interest: ₹453
   • EMI: ₹3,484
   • APR: 34%
   • Disbursed Amount: ₹9,410
   • Total Repayment Amount: ₹10,453

Key Features

1. 100% Online Process: Apply and get approved without the need for physical documents.
2. Fast Approval: Get your loan approved quickly and efficiently.
3. Immediate Bank Transfer: Receive your loan amount directly in your bank account.

Eligibility Criteria

1. Must be an Indian resident
2. Must be above the age of 21 years
3. Should have a monthly source of income

How to Get Started

1. Install the Fast Rupee App: Download and install the app from a trusted source.
2. Create Your Account: Register with your basic details.
3. Check Eligibility: Fill in your basic details to check your first-level eligibility.
4. Upload KYC Documents: Provide your ID, Address Proof, and PAN card.
5. Avail Loan: Once approved, you can choose to receive the loan amount as a bank transfer or an E-voucher.

Fees & Charges

• Interest Rates: Range from 0% to 29.95%, with an equivalent monthly interest rate of 0% to 2.49%.
• Processing Fees: Charged based on risk profile; for low-risk customers, it ranges from 0% to 3% of the principal, and for very high-risk customers, it ranges from 2.5% to 7%.
• Service Fee: A one-time service fee is charged during onboarding or upgrades, ranging from ₹20 to ₹350 depending on the risk profile.
• Penalties: Charged only when there is a delay in the scheduled payment.

Conclusion

Fast Rupee is a reliable and efficient solution for young professionals in India looking for instant personal loans. With its user-friendly platform, fast approval process, and secure transactions, Fast Rupee stands out as a trustworthy option for meeting your financial needs. Whether you need funds for an emergency or planning a major purchase, Fast Rupee provides a seamless and transparent borrowing experience.