PayRupik is an online instant personal loan platform trusted by over 5 million users, provides you instant credit in minutes.
It is a loan product of Sayyam Investments Pvt Ltd which is a registered NBFC under RBI. You can avail loan amount ranging up to 20,000, process is fast, easy and safe.
If you are looking for a friend who can easily borrow money without making excuses, PayRupik is your best friend.
Production:
Loan Amount: from ₹1000 to ₹20000
Minimum Loan Tenure: 91 days
Maximum Loan Tenure: 365 days
Maximum Annual Percentage Rate (APR): 35% per annum
Processing Fee: from ₹80 to ₹2000 depend on the loan tenure and amount
GST: 18% on the processing fee in accordance with the law and policy of India
The representative example:
For the loan amount is ₹6000 and the interest rate is 25% per annum and the tenure is 120 days, then the interest payable is calculated as follows:
Interest = ₹6000 x 25% / 365 x 120 = ₹493
Processing Fee = ₹100
GST = 100 x 18% = ₹18
The total repayment amount in 120 days shall be ₹6000 + ₹493 + ₹100+ 18 = ₹6611
APR = (₹6611-₹6000) / ₹6000 / 120 x 365 = 30.97%