Speed Cash - Instant Cash Loan descripción

Speed Cash Loan is quite an efficient online loan assistant! We provide loan disbursal service to end users without any upfront fees.

※About Speed Cash Loan

❤Product Features:

✅ No Credit history required.
✅ Simple to apply and helpful reimbursement options.
✅ Amounts vary from ₹ 5,000 to ₹ 5,00,000.
✅ Duration from 92 days to 120 days.
✅ Maximum Annual Rate (APR): 0.05% per day. The maximum annual interest rate is 18.25%.
✅ There are no other hidden fees.

Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged to borrowers or paid to investors

For example :
Someone wants to apply for a personal loan of ₹ 5 lakh with repayment tenure of 3 years. The interest
rate charged At the loan is 12% and the processing fee is 1.5% and insurance cost is ₹ 4,700. The APR of the
loan will be calculated as follows:
The processing fee is coming at ₹ 7,500 and total fee including insurance cost is ₹ 12,200. And, the interest
cost is ₹ 1,80,000.
APR=K(12,200+1,80,000)/5,00,000)/1095)*365*100=12.81%
The actual cost of loan is coming at 12.81% for the 3 years loan tenure and is higher than the nominal interest
rate.

Example of debt service due:

If you take out a loan of ₹ 10,000 at 18.25% APR for 120 days:
Daily interest = ₹10,000 x 18.25% / 365 days = ₹5
Total Interest: ₹10,000 x 18.25% / 365 days x 120 days = ₹600
Daily Repayment: ₹10,000 / 120 days + ₹5 = ₹88.3
Total Repayment: ₹10600

Security:
We ensure all client data. We don't share it with anybody and we do not store any client information at any place.