MagicRupee

MagicRupee is a comprehensive online loan platform designed to cater to various financial needs, offering a range of well-selected loan products. We prioritize safety, diversity, and ease of access in all our services, ensuring a professional and seamless experience for our customers.

Detailed Loan Example:

For a loan amount of ₹3,000,000 with a repayment period of 6 months, the following fees are applied:

• Monthly Interest Rate: 30% per annum divided by 12 months = 2.5% per month
• Monthly Interest Calculation: ₹3,000,000×2.5%=₹75,000₹3,000,000 \times 2.5\% = ₹75,000
• Monthly Service Fee: ₹3,000,000×0.42%=₹12,600₹3,000,000 \times 0.42\% = ₹12,600
• Total Monthly Payment Amount: ₹3,000,000÷6+₹75,000+₹12,600=₹587,600₹3,000,000 \div 6 + ₹75,000 + ₹12,600 = ₹587,600
• Total Interest Over 6 Months: ₹3,000,000×2.5%×6=₹450,000₹3,000,000 \times 2.5\% \times 6 = ₹450,000
• Total Service Fee Over 6 Months:₹3,000,000×0.42%×6=₹75,600₹3,000,000 \times 0.42\% \times 6 = ₹75,600
• Total Repayment Amount: ₹3,000,000+₹450,000+₹75,600=₹3,525,600₹3,000,000 + ₹450,000 + ₹75,600 = ₹3,525,600

Product Information:

• Repayment Period: Minimum 91 days (shortest, including renewal) - Maximum 730 days (longest, including renewal)
• Maximum Annual Percentage Rate (APR): 35%
• Loan Amount Range: Minimum ₹2,000 to Maximum ₹300,000
• Average Monthly Interest Rate: 1.35% to 2.9% (depending on the product availed)
• Transaction Fee: 0
• Processing Fee: 2% to 3.3%

MagicRupee Features:

MagicRupee offers a variety of well-curated loan products designed to meet different financial needs. Our platform is a professional loan market, providing safe and diverse loan products and related services. By downloading MagicRupee, you can apply for various loan products with ease.

Eligibility Criteria:

• Must be an Indian resident.
• Age between 20 and 56 years.
• Must have a source of monthly income.

How It Works:

1. Install the App: Download MagicRupee from the Google Play Store.
2. Select a Loan Product: Choose and click on the desired loan product within the app.
3. Fill Out Your Information: Complete the application form with your personal details and submit it.
4. View and Confirm the Loan Agreement: Review the loan agreement and confirm your acceptance.
5. Await Approval: Wait for the application result.

Privacy and Permissions:

Your privacy is very important to us. We ensure that your personal information will never be shared without your direct and explicit permission.