Handy loan app is another loan app in India where you can obtain quick loan without collateral, with this loan app you don’t need to visit any location, with your smart phone you are good to go.
Their loan processing is very fast, one hour after submitting your application your bank account will be credited. With this loan app you can obtain up to 2 lakh at a go
Requirements to obtain loan from handy loan app
Like any other loan app in India you need to meet up with some requirement before you can obtain loan from this app
Have bank account
Be above 18 years of age
Have regular source of income
Reside in India
Have smart phone with which to download the loan app
Once you meet up with the above requirement you can go ahead and apply for this loan
How to apply for Handy loan app
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 loan you can obtain from handy loan app
With this loan app you can obtain up to 2 lakh without collateral or paper work. As a first timer you will not obtain up to this your eligible amount will be around 30,000 but as you continue to use the app this will increase.
Handy loan app interest rate and repayment period
Their interest is between 24% to 30% per annum depending on the amount of loan obtain and the repayment period.
Their repayment period is between 7 days to 180 days also depend on the amount of loan secure, as a first timer your interest rate will be high and your repayment period will be short, as you continue to use the app this will improve.
Paying back your handy loan
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 wil 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 handy loan app legit
Yes, this loan app is legit, they have given loan to many people in India but they are not license by appropriate authority.
Our final verdict on handy loan app
Handy loan app will surely give you loan, but exercise caution when taking loan from them.
They are known to be sending defamatory message to their defaulter’s contacts. They can harass you if you fail to pay back your loan.
Also they have bad review on play store which is a bad thing. I will advice you to take loan that you can pay back.
As you’ve read above , handy loan app will surely give you loan but ensure you you to obtain loan that you can pay back to prevent embarrassment.
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