Archived App
This is an archived listing of the app previously available on the App Store.Although the app is no longer distributed by Apple, you can still view its description, screenshots, version history, ratings, and metadata for reference.
About
This app provides instant personal loans with flexible repayment options. It offers a fully digital and paperless application process, with loan amounts up to ₹80,000 and terms up to 24 months. It is compliant with RBI guidelines and trusted by over 1 million customers.
What's New in Rapid Loan
1.0.1
May 8, 2023
1.Fixed the UI display problem of some functions
FAQ
What is the minimum age requirement to use Rapid Loan?
You must be over 23 years old to use Rapid Loan. This is a standard requirement for financial services in India.
What are the eligibility criteria for a loan from Rapid Loan?
To be eligible for a loan, you need to be an Indian national, over 23 years old, have a credit score over 600, and a stable monthly income of more than Rs 15,000.
What documents are required to apply for a loan with Rapid Loan?
You will need to provide a selfie, your PAN card, and your Aadhaar card as proof of address. The process is designed to be fully digital and paperless.
What is the maximum loan amount and term offered by Rapid Loan?
Rapid Loan offers personal loans up to ₹80,000 with loan terms ranging from 3 months to 24 months, depending on the product and your eligibility.
What are the interest rates and fees associated with Rapid Loan?
Interest rates range from 15.95% to 35.95% compounded annually. Handling fees are between 1% and 7.5% of the loan amount, and APR can range from 0% to 70%.
How can I repay my loan from Rapid Loan?
Repayments can be made easily through UPI apps like Google Pay and Paytm, payment gateways like RazorPay, or via automatic debit (eNACH/eMandate).
Is Rapid Loan a safe and compliant app?
Yes, RapidLoan is 100% compliant with RBI's digital lending guidelines and is a digital product of an RBI registered NBFC. It is built to ISO standards and audited by a Certified Information Systems Auditor.
How often is Rapid Loan updated?
The app was last updated on May 8, 2023, with version 1.0.1. This indicates a recent update, suggesting ongoing development and maintenance.
