Mudrakwik is India’s first instant loan application. A high loan amount offered ranges from Rs. 1,000 to Rs. 5,00,000 with flexible repayment tenure minimum of 75 days and maximum of 500 days. The offered interest rate on the best personal loan in India from Mudrakwik depends on a customer profile and loan tenure. The generic interest rate on Mudrakwik Instant Loan 2021 goes up to 34.6 % per annum.
The applicant can download the application and apply for an instant loan. The most awesome aspect of the MudraKwik is that it gives instant loans without seeing the credit history as a consumer of the borrower, and there is no minimum salary limitation to get an instant cash loan. When you take the payday loan from MudraKwik, you can reimburse it in simple EMIs.
Components and Benefits of MudraKwik Loan
- Loan without Loan History: Most of the time moneylender sees credit history as a consumer to engage any personal loan application, however at MudraKwik, you don’t have to show credit history as it supports loan up to ₹ 5 lakh without seeing your financial credit history.
- Paperless Application Process: All the loan applications at MudraKwik are handled carefully, subsequently there is no human intercession required (complete online process), and you get a great online-based application experience.
- Pan India Availability: Whether you live in tier 1 or tier 3 city, you can get instant cash loans from MudraKwik at ease. In contrast to that, a few moneylenders offer their services in some chose urban areas.
- No Minimum Salary Criteria: Generally, banks require least salary as a part of their Instant Personal Loan Eligibility criteria, however at MudraKwik, there is no such limitation. In the case that a person is salaried, he can benefit Mudrakwik Instant Loan 2021.
|
Lenders Name |
MudraKwik |
|
Interest Rate |
Up to 34.6% p.a. |
|
Processing Fee |
2% – 4.3% |
| Loan Amount |
₹ 10,00 to ₹ 5,00,000 |
|
Loan Tenure |
75-500 days |
Eligibility Criteria to Avail Mudrakwik Instant Loan 2021
- The applicant should be an Indian citizen.
- The minimum age of the applicant should be of 18 years and maximum of 45 years.
- The applicant should be a salaried employee.
- The applicant should have standard pay.
Documents Required for Mudrakwik Instant Loan 2021
- Pan Card
- Identity proof – Aadhar Card
- Address evidence- Aadhar card/Voters ID card/Passport/
- Bank account number/IFSC code/
- Passport-sized photograph
Mudrakwik Instant Loan 2021 EMI Calculation
MudraKwik offers payday loans up to Rs. 1 lakh instantly, however prior to taking a personal loan, you should know your EMIs to design your repayment helpfully. The most amazing aspect of the EMI calculator is that you can attempt various varieties until you get fulfilled.
The tool is free and direct to utilize. By entering your loan sum, interest rate, and loan repayment tenure, you can see the outcomes. After entering your details when you hit the calculate button, you will see the number of regular monthly payments, interest rate, and the loan amount (Principal loan sum + overall interest). To find out about the EMI calculator, see the example below:
Assume you take a loan of Rs. 50,000 at an interest rate of 30% p.a. for quite a long time from MudraKwik, then, at that point, the EMI calculator will show you comparable outcomes, as displayed in the table below.
|
Loan Amount |
₹ 50,000 |
|
Interest Rate |
30% p.a. |
|
Tenure |
6 months |
|
Month |
PRINCIPAL (A) |
INTEREST (B) |
TOTAL (A +B) |
BALANCE |
LOAN PAID |
|
1ST |
₹ 7,827 |
₹ 1,250 |
₹ 9,077 |
₹ 42,173 |
15.65% |
|
2ND |
₹ 8,023 |
₹ 1,054 |
₹ 9,077 |
₹ 34,149 |
31.70% |
|
3RD |
₹ 8,224 |
₹ 854 |
₹ 9,077 |
₹ 25,926 |
48.15% |
|
4th |
₹ 8,429 |
₹ 648 |
₹ 9,077 |
₹ 17,496 |
65.01% |
|
5th |
₹ 8,640 |
₹ 437 |
₹ 9,077 |
₹ 8,856 |
82.29% |
|
6th |
₹ 8,856 |
₹ 221 |
₹ 9,077 |
₹ 0 |
100.00% |
How to use MudraKwik Loan App?
- Download the MudraKwik instant personal loan application from the play store.
- Open the application and register an account.
- Enter your necessary data and submit your loan application.
- After getting the loan approval, the money gets transferred to your bank account in a couple of minutes.
MudraKwik Customer Care
If there should be any inconvenience, you can connect with the MudraKwik customer care in the accompanying ways:
- Email: hello@Mudrakwik.com
- MudraKwik customer care number: +918956039999
- Address: 509, Stellar Spaces, Kharadi, Pune – 411014
FAQs
Q1. What is a payday loan?
It’s a sort of personal loan which is given for short-term use. The loans given by the MudraKwik are payday loans.
Q2. Does Mudrakwik Instant Loan 2021 give instant cash loans to self-employed people?
As of now, MudraKwik offers instant cash loans to salaried people. In any case, there is no minimum salary limitation to get a personal loan.
Q3. Does Mudrakwik Instant Loan 2021 help in building the CIBIL score?
In you repay your loan on time, the MudraKwik stage assists you with further developing your CIBIL score. However, it doesn’t see your record at the time of loaning a personal loan.
Q4. What is the most common way of applying for a Mudrakwik Instant Loan 2021?
By downloading the MudraKwik application on your cell phone, you can apply for an instant personal loan. For additional details, read the complete steps and eligibility criteria.
Conclusion:
To conclude, there is no doubt that Mudrakwik is one of the best instant loan apps. And you can get the best personal loan in India at a low-interest rate by availing Mudrakwik Instant Loan 2021 via Afinoz.