This application is intended for Indian residents employed in full-time jobs and makes a salary of at least Rs 40,000 per month. It offers loans from Rs 5,000 to Rs 500,000 with an annual interest rate of 18%. The application requires a valid email address and a mobile number. The loan is disbursed directly to the bank account. It is not a money lending app but a service for registered non-bank financial companies (NBFCs).

This loan application has been developed to provide a service to the public. The loan terms are very short, and all the loan payments are processed within 24 hours. It guarantees the safety of your data. This app is fully automated and requires no intervention from the user.

How does Rich Loan work?

First, log into the application. You will be required to enter your name, email address, and mobile number. This is to verify your identity and to determine your credit score. The credit score is determined based on your payment history, repayment ability, and employment status. You can also upload documents to increase your credit score.