Apply for a Loan Online

Apply for a Loan Online is an app that you have guided about How to Apply for a Loan. Apply for an instant loan is an online loan application and credit platform for professionals.

Instant Cash Loan on Mobile App helps you to get Appropriate information for how you can take a loan online with minimum documentation.

Just download this app and get a guide. It is totally free app.

Loan characteristics:

- Loan amount from a minimum 10,000 to a maximum 50,000
- Minimum Annual Percentage Rate (APR): 12%, Maximum Annual Percentage Rate: 29% (reducing balance)
- Minimum repayment period: 91 days, Maximum repayment period: 24 months
- Processing Fees: Max ($350, Up to 1%-7% of the loan amount)
- Prepayment Fees: 2.50% prepayment amount
- Your bank may also levy charges in case of a bounce.

Example of Cost of Loans

- Amount Borrowed (Principal) = $20000/-
- Interest Rate = 3% monthly Simple Interest
- Tenure = 6 months
- Processing Fee = $600
- Amount disbursed = $20000
- Your EMI amount = $3692
- Interest amount = $2152
- Total Cost of Loan = $600+$2152 = $2752
- APR = (2752/20000)*12/6 = 27%

A representative example of the total cost of the Loan Amount, including all applicable fees:

-️ Loan Amount: $50,000
- Tenure: 12 months
-️ Interest Rate: 22% (on reducing principal balance interest calculation)
-️ EMI: $4,680
-️ Total Interest Payable: $4,680 x 12 months - $50,000 Principal = $6,160
- Processing Fees: $1,475
- Disbursed Amount: $50,000 - $1,475 = $48,525
-️ Total Amount Payable: $4,680 x 12 months = $56,160
- Total Cost of the Loan = Interest Amount + Processing Fees = $6,160 + $1,475 = $7,635.

Important Note:

We have tried to give you the correct information. But In case any information goes wrong , We are not responsible for that. Please verify the information .