Red carpet credit card - Personal loan app

Red carpet credit card - personal loan apps: You can take a credit limit of ₹ 500 to ₹ 50,000 through the red carpet credit card - personal loan apps, that will also depend on your CIBIL score, in a few minutes you can register simple and use this app.

You can avail Red Carpet Credit Card like a personal loan and an ATM card, here it is also provided a physical card, you can use it as an ATM card and get a discount/coupon on this card, This app can use the application like UPI, you can do online bill payment or shopping online through the website anywhere, Red carpet credit card - personal loan apps,

Red carpet credit card - personal loan provides a credit card line limit. Through the app, it is an NBFC registered app. Through RBI, you are also given a Master card/Rupay card here as well as a physical card facility. You can shop online anywhere, or you can use this red carpet credit card personal loan app by going to the local grocery shop. One way the card can be used is an ATM. The red carpet is also RBI CISA Certified for Security.

If using Red carpet credit card - personal loan app, then you can take instant approval in which you will have to provide KYC documents like Aadhaar card of address proof and PAN card as identity proof, here civil matter also means In which the minimum should be above 650 civil score/credit score, on the basis of that you are given approval of the loan. Processing fees can be charged from 0% to 3%. It also depends on the profile of the customer. If you do not make an on-time payment, then you will have to pay only late payment charges, which can be charged from ₹ 300 to ₹ 10000.

If you use the red carpet credit card - personal loan app, the bill will be generated on the 15th of the month, which you can pay next month and you are also given the facility of EMI which will be for 12 months. And to make long term loan payments

If you talk about interest rate charge, 0% to 29.95% can be charged annually and if you talk about monthly interest rate then 0% to 2.49% can be charged for a personal loan. If you get the facility, then from a minimum of 3 months to the maximum of 36 months loan repayment time is given to you here.

Red carpet loan interest rate:

Application Fees Charge - between 0 to 650 Rs based on CIBIL score.

Processing Fee Charge- for Depending low risk on customers 0% up to 3%, for very high Charge -risk on customers profile at 2.5%-6.5% of the principal

Late fees Charge - Do not On-time payment so only charged on late payment. About just like minimum charge Rs 300 for 10,000 Rs

Bill Repayment: Bill generated on 15'th of every Each month. Repay next month at no extra cost or you to convert it into EMIs for up to 12 months.

Interest rate charge: 0% upto 29.95% with equivalent monthly interest rate of 0%-2.49% only

For personal loans, the min period for loan repayment = 3 months up to the maximum period of loan repayment of 36 months.

Red Carpet credit card - personal loan: Example of loan

1. Example for 12 months, Rs.50,000/- credit line:

2. Application fee Charge= Rs.350

3. processing fee charged = Rs.1,250 for 12 months

4. Interest Rate Charge 22% yearly.

5. APR is 28.372%

6. total interest charge of 12 months is Rs.6,156

7. monthly EMI Instalment Rs.4,679.72

8. Total Payments + Fees Charge Rs.57,756.63

APR for different credit products: Depend on the low risk of customers Profile is 0% up to 36% and medium risk customers are 18%-39%, high-risk customers are 24%-42% and very high-risk customers is 24%-70%.

Red Carpet credit card - personal loan: How to use

1. Fill in the Basic detail required details - like selfie, etc

2. Upload KYC detail Just like as (ID & Address Proof)

3. Starting credit limit of Rs 500 up to 10,000 (fees based on credit limit)

4. On-time pay to improve credit limit and Build Credit Score

5. Pay Bill EMI via UPI/Bhim app on RedCarpet app or website

6. Highest Credit limit up to Rs 50,000

RedCarpet is not directly engaged in the activity of money lending. RedCarpet is a platform that facilitates loans & credit to users by duly registered NBFCs. We comply with all applicable laws including RBI Fair Practices Code when facilitating the administration or recovery of loans on behalf of NBFCs.

See more read:-

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12.My Money - IIFL Finance- Click Here
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Red carpet credit card - Personal loan app