MyLoanCare is a RBI-registered non-banking finance company (NBFC) MyLoanCare Ventures Private Limited that offers 100% digital, paperless and instant personal loans. You can avail of personal loan to fulfil various personal or business-related financial requirements such as unplanned medical emergencies, planning a vacation, home renovation, etc.
Total amount borrowed: ₹ 1,00,000
Time period: 3 Months to 36 Months
Interest Rate: 16.50% to 32%
Processing Fee payable to: 3% to 3.5% of loan amount
Fee payable to MyLoanCare: Upto ₹ 3,000
Total Monthly Cost – From ₹ 3,540 for 36 Months ₹ 1,00,000 loan at 16.50% (lowest rate, longest time period) to ₹ 35,127 for 3 Months ₹ 1,00,000 loan at 32.00% (highest rate, shortest time period). This is inclusive of principal repayment.
Annual Percentage Rate (APR) of charge including all applicable fees: 17.01% to 32.6%.
Total cost payable over loan tenure: ₹ 1,05,763 for 3 Months loan to ₹ 1,50,507 for 36 Months loan.
