Amla credit loan app is another loan app in India where you can obtain instant loan. You don’t need to have collateral or guarantor before you will obtain this loan, with your phone you are good to go.
You can obtain up to ₹100,000 with this loan app. Their loan processing is very fast within 1 hour of applying for the loan, you will be credited.
But is this loan app legit?
Read on to make conclusion before apply for this loan
Requirement to obtain loan form amla credit loan app
Amla credit is like any other loan app in India, before you can obtain this loan you need to met up with some requirement which are
Have good credit score
Have bank account
Be above 18 years of age
Have phone with which to download the loan app
Have regular source of income
Reside in India
Once you have all this requirements you can go ahead and apply for the loan
How to apply for Amla credit loan
The first step to take is to head over to play store and download the loan app
Register with your name, bvn and other details
You will be ask to bind your ATM card, do so and proceed
Once you are done with registration you will be login to your account
On your dashboard locate and click on loan
There you will see amount of loan you are eligible to obtain
Click it and wait for disbursement
How much you can obtain from this loan app
With this loan app you can obtain up to ₹100,000 loan without collateral or paper work.
As a first timer you will not be able to obtain up to this, but as you continue to take loan from them, this will increase.
Amla credit loan app interest rate and repayment period
Amla credit loan app interest rate is between 5% to 12% per month, depend on the amount of loan secure and the repayment period.
The repayment period is between 90 days to 180 days aso depend on the amount of loan obtain.
As a first timer your loan interest rate will be high and your repayment period will be short, this will improve as you continue to obtain loan from this app.
Paying back your Amla credit loan app
To payback your loan head over to your dashboard
Click on loan repayment
There you will see deferent option to pay back your loan
Click on one and make payment
Once you make payment it will reflect on your dashboard
If it does not you should contact them.
What will happen if I default or refuse to pay back
If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.
If you abscond, your name and bank details will be send to appropriate authority for blacklisting which means you will not be able to obtain loan again in India until you pay back and clear your name.
Is amla credit loan app legit
No, though this app will give you loan, they will collect huge amount back from you, They are not license by appropriate authority so be careful of this loan app
Our final verdict on amla credit loan app
This loan app is not legit, there are many bad review about them on the internet. They might give you loan but you will pay back double.
There is a case of some one who they blackmail until the person send double of what she received as loan back to them.
Exercise caution when taking loan from this app in fact do not near them.
Above is how to obtain loan on Amla credit loan app. As you’ve read above loan app is not legit, do not take loan from them if you do you might end up in trouble.
Do you like this article?
Feel free to share it