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Rupeeredee

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RupeeRedee is a new-age financial services platform that leverages technology to make lending quick and easy. We facilitate access to 
instant Personal Loans ranging from Rs 2000 to Rs 25000 for both Salaried and Self-employed customers by connecting borrowers with lender.
Our lending partner (Fincfriends Pvt Ltd) follow a dynamic risk-based pricing model with loan terms & rates described below
Loan Amount: From ₹ 2000 to ₹ 25000
Minimum Period of Payment (Minimum Tenure): 62 Days
Maximum Period of Payment (Maximum Tenure): 120 Days
Maximum Annual Percentage Rate (APR): 48% to 110%
Interest Rate: 4% to 6% per month
Approval Fees: 4% of Loan Amount (Inclusive of GST)
Online Secure Fees: 6% of Loan Amount (Inclusive of GST)
Account Management Fees: 7% per Monthly Instalment (Inclusive of GST)
Representative Example of the total cost of loan is provided in example below:
Description	              All Amount are in INR	               Comments
Loan Amount              ₹ 10,000	
Loan Tenure	              90 Days (3 Months)	
Approval Fees	       ₹  339 + 18% GST = ₹ 400	        4% of loan amount
Online Secure Fees     ₹  508 + 18% GST = ₹ 600          6% of Loan Amount
Interest                         ₹  630
Account Mgmt Fees   ₹ 1780 + 18% GST = ₹ 2100       7% of Loan Amount (Each EMI)  
Total Repayment         ₹ 12411 + 18% GST = ₹ 12731 
Repayment Schedule Below-
EMI         Monthly                 Interest       Account            Principal 
Period    Payment (EMI)                         Mgmt Fees       
1              ₹ 4400        	        ₹ 250            ₹ 700      	        ₹ 3450
2              ₹ 4400        	        ₹ 258            ₹ 700      	        ₹ 3442
3              ₹ 3931        	        ₹ 122            ₹ 700      	        ₹ 3108
	
Eligibility: Any Indian resident individual aged between 18 – 65 years having a minimum monthly income of ₹ 15,000, can apply for a loan through RupeeRedee. We don’t discriminate between salaried or self-employed applicants; all are welcome as long as minimum income criteria along with other conditions is met.
Documents Required:
1. Address Proof {acceptable documents - Aadhaar}
2. Latest Photograph/Selfie
3. PAN Card
4. Aadhar XML
5. Bank Account / Access to bank account details
Why Rupeeredee Needs the following Permissions:
Location - ACCESS_FINE_LOCATION
Explanation: To collect and monitor the location of your device and access serviceability of your loan application. This also 
helps in quicker credit risk decision and ensure KYC compliance as per guidelines of regulator
 
Camera & Media Access - CAMERA, READ_EXTERNAL_STORAGE, WRITE_EXTERNAL_STORAGE
Explanation: To capture KYC documents and selfie for liveness test and ensure KYC compliance as per guidelines of regulator
Storage (Read and Write)
Explanation: To upload and download the identity documents for completing KYC process. This helps in expediting the KYC process for a faster approval and provides a seamless customer experience while using the app

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