Lenditt Loan Review – App Download and How to Get Loan

prosper ugo September 30, 2023

0 178 3 minutes read

One of the top loan applications in India, Lenditt Loan is redefining the lending process. We’ll go over the features, advantages, and procedures of the Lenditt loan, how it offers a simple and secure way to get personal loans, and how to invest in gold and silver online in this article.

With an RBI (Reserve Bank of India) registration, Lenditt is recognized as a trustworthy and reputable personal loan service.

Why Lenditt Loan?

One of the top online personal loan apps in India is Lenditt thanks to a number of advantages it provides:

Instant Loan Approval: In desperate need of money? With Lenditt’s rapid loan approval, you can be sure that you’ll get the money you need right away.

modest Loan Option: Lenditt offers cash loans up to ₹50,000 for anyone in need of modest personal loans.

Easy Application Process: Lenditt’s user-friendly online application process makes it simple to apply for a personal loan.

Trustworthy: Lenditt is a name you can rely on. It complies with the highest standards of honesty and security because it is an RBI-registered online loan application.

Flexible Repayment Schedules: Lenditt is aware that each individual’s financial position is different. As a result, it provides numerous repayment options to meet your unique demands.

Lowest Interest Rates: Thanks to its innovative algorithm, Lenditt provides some of the market’s most competitive interest rates.

Lenditt Loan Features:

Lenditt has a number of features that improve the loan process:

Minimum Processing Fees: 500 rupees and up.
61 days to 90 days for repayment.
Maximum Annual Percentage Rate (APR): Varies from 54.75% to 72% based on the risk profile of the customer.
100% Paperless Loan Application: Convenience is paramount, and Lenditt ensures a hassle-free experience.
No Foreclosure Charges: Freedom to repay the loan at your convenience without additional charges.
No Guarantors or Collaterals: Simplifying the loan process by eliminating the need for guarantors or collaterals.
Multiple Repayment Methods: Flexibility in choosing how you want to repay your loan.
Sanction Letter in 30 minutes: A quick process to get you started on your financial journey.
No Subscription or Upfront Fees: transparent procedures with no additional fees.
Quick Turnaround Time (TAT): Processes that complete quickly and effectively, taking less than 10 minutes from registration to disbursement.

Interest Rate

Lenditt provides clear interest rates and fees so that customers may make educated financial decisions. Depending on the risk on the user’s profile, their interest rates range from 0.15% to 0.50% per day. Users are charged processing fees of 6.5% or 1% of the loan amount in addition to GST. Additionally, a small fee of 300 is charged for stamp duty.

Consider a loan for $30,000 with a 65-day term and an interest rate of 54.75% p.a. to show the costs. The entire amount of interest would be 2,925, and the processing, paperwork, and stamp duty fees would equal 2,550. As a result, the amount in-hand would be 27,045 and the total amount repayable would be 32,925.

Read Also: Top 10 Best Loan Apps in Nigeria

Requirements

Indian Citizenship
Be 25 years and above
Must have a reliable source of income
must meet the minimum monthly salary of ₹4,000

How to Apply

Lenditt’s loan application process is easy to use and straightforward. Here is a detailed instruction on how to apply:

Install the App: Install the Lenditt app first by going to the Google Play Store.
Registration: By entering your name, mobile number, and email address, you may complete the registration process.
Verification: For a flawless experience, use the e-KYC process to confirm your identity.
Give your employment information: To continue with the loan application, provide your employment information.
Loan Eligibility Assessment: Lenditt uses its algorithm to assess your loan eligibility while taking credit bureau and financial SMS data into account.
Select Loan Amount and EMI: Using the results of the evaluation, pick the loan amount you want and the accompanying EMI.
Agreement and bank information: Fill out the e-mandate for a direct debit for loan repayments and provide information about your bank account. Go over the loan agreement and approve it.
Loan Disbursement: After you sign the contract, the loan money is disbursed and credited to the account you choose.

Conclusion

Lenditt is a trustworthy and effective online platform for obtaining personal loans, to sum it. It meets a variety of people’s financial demands because of its simple application process, affordable interest rates, and other benefits.

Lenditt’s entry into the area of digital gold and silver investment further broadens the company’s appeal by giving customers a safe and practical way to invest in precious metals. Never agree to any loan application through Lenditt without carefully reading the conditions, interest rates, and repayment plans.