Debt in India is something that people look down upon. Because their experience applying for someone is almost always negative. Almost everyone who knows or is writing on the internet how they applying for a personal loan or education loan in India and got turned down by the bank. It is not a pleasant experience even if you managed to get the loan. All those documents, questions etc! Ha!
Well, startups like Rokdawale are trying to fix that. They are new tycoons of lenders hoping to offer online loans (personal, education or other) to salaried individuals and build the entire loan application experience in the most effective way.
Rokdawale offers you hassle-free financial support up to 60 lakhs at @7.00% ROI with min@7.5% to max@8.5% APR with a repayment period of a min 1 year to a max of 20 years, and zero processing fees.
Suppose,
The Loan Amount is 10,000, Interest Rate is 7% p.a, and Loan Period is 1 Year. Then the total repayment amount after 1 year is 10,000 + 700(7% ROI) = Rs 10,700
What is Rokdawale and what is a low-interest loan?
Rokdawale is a loan provider in India that gives loans within 24 hours with paperless documentation. There is also an inbuilt EMI calculator on their website and it is quite good to calculate EMI.
Rokdawale provides financial guidance up to 60 lakh at a 7% rate of interest with minimum @7.5% to maximum @8.5% APR, and a minimum 1 years to maximum 20 years repayment facility without any processing fees.
Eligibility for Applicant
- 21 years and above
- Must be an Indian citizen
- Must be salaried or self-employed
Required Documents
- Pan Card
- Aadhaar Card
- Bank Details
- Address Proof
Official Website: www.rokdawale.org
Conclusion
The faster you pay off the loan, the better because you can keep paying interest without reducing the principal amount. It is similar to a cash advance with a credit card, but the interest rates are competitive and may appeal to those who want cash for immediate emergencies.
