● loanbaba loan app Introduction and Fees With Amount from 3500 to 6000 INR, and maximum 36% APR-Annual Percentage Rate( which will be adjusted based on your loan valuation), Loan Baba offers micro-loan with term from 92 to 360 days. Our processing Fee is from 5% to 15%, lump sum charge, subject to loan eligibility(processing fee, payment charges, E-sign and risk review fee are included), and tax is 18% GST of the Processing Fee.
Loanbaba app Fees will be charged when you apply for a ₹3500 loan :
With 36% APR, 92 days of Tenure and 10% Processing Fee, so processing fee and GST need to be paid when you get money will be ₹ 413=3500*10%+3500*10%*18%.
●Repayment:
Repayment will be separated to several installments. For the 1st repayment, you need to pay the principal amount + the interest of first 14 days, and the remaining interest will be repaid based on the plan.
Take a loan of ₹3500 for 92 days for example, the amount payable will be ₹3817.59 and the repayment plan is as follow:

*1st repayment: principal + interest of repayment#1
Amount -- ₹3524.16 (principal: ₹3500 + interest: ₹24.16)
*2nd repayment: interest of repayment#2
Amount -- ₹24.16 (interest of repayment#2)
*3rd repayment: interest of repayment#3
Amount -- ₹24.16 (interest of repayment#3)
*Rest of repayment are same as above until the loan are settled

A.Application steps:
1. Install APP
2.Register an account and fill in your information
3.Agree and E-sign the agreement, waiting for approval
4.Get your money

B.Eligibility:
1. Indian aged 18-45 years old
2. Pan Card and Aadhaar Card
3. Mobile number
4. Bank accounts
5. Stable monthly income

Authorization:
To assess your eligibility and facilitate faster loan disbursement, we need these below permissions.
* Financial SMS
*Contact List
*Location
*Storage
*Camera
*App List
* Phone State
All transactions are secured through AES-256 encryption. All the data transfers are under secured connections.

Features:
1.After submitting files and getting approval, User of LoanBaba can only need to fill in ID information to get the money .
2. LoanBaba is convenient loan-provider for you at anytime and anywhere. Money will directly go to User's account in a short time, and application process is safe and confidential.
3.User can get the money without any other files required and don’t need to wait for the process again once the application approved.
4.Most importantly, User's privacy is safe with us.
Security:
Data in the App is stored on Aliyun's Mumbai server of Aliyun Cloud Security. Bank-level encryption technology is always providing protect to User's data.
LoanBaba only decodes the transactional messages that User receive on their mobile phone whenever they use. Personal and OTP messages won't be effected.
It should be noted that we will collect your personal text messages and address book information from your inbox, which helps us identify the various accounts and cash flow methods you hold to help us determine your risk status And to speed up the review, we will only store the collected information and data on our servers, and never allow sharing with any third party.
Note :
We have tried to give you the correct information but In case any information goes wrong, We are not responsible for that. Please verify the information.

Disclaimer :
This App only for guide for how to apply various type of loans and this app not borrower any type of loan to any other. This app does not asking to users for pay money for loan. Be aware this kind of fraud.