Raw loan app: interest rate, is it legit, how to apply

Raw loan app is one of the best loan app in Indian, with this loan app you can obtain up to 50,000 rupees without collateral or paper work.

Their loan processing is very fast within 30 minute of submitting application your loan will be be disburse. You don’t need to visit any location before you will obtain the loan, with your smart phone you are good to go.

Requirement to obtain loan from Raw loan app

Before you can obtain loan from this app you need to meet up with some requirement which are

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  • Have good credit score
  • Have bank account
  • Reside in India
  • Have regular source of income
  • Have smart phone with which to download the app

Once you meet up with the requirement you can go ahead and apply for the loan

How to apply for raw 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

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You will be ask to bind your ATM card which might attract #30 fee, 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

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There you will see amount of loan you are eligible to obtain

Click it and wait for disbursement

How much you can obtain from raw loan app

With raw loan app you can obtain up to 50,000 rupees at a go. If you are applying for the first time your eligible loan will not be up to this it will be around 30,000 rupees, as you continue to take loan from this app, your eligible loan amount will be increase.

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Raw loan app interest rate and repayment period

Raw loan app interest rate is between 10% to 25% depending on the amount of loan obtain.

Their repayment period is 7 days to 180 days also depend on the amount of loan obtain. As a first timer you will be given high Interest rate and short repayment period as you continue to use this app it will improve

Paying back your loan

To payback your loan head over to your dashboard

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Click on loan repayment

There you will see deferent option to pay back your loan

Click on one and make payment

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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%.

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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 raw loan app legit

Yes this loan app is legit they will surely give you loan but they are not license by appropriate authority so exercise caution when taking loan from them

Our final verdict on raw loan app

Raw loan app is legit, they do give out loan to people. They have both good and negative review on play store. So far there has been no uprising about this loan app.

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The problem with this loan app is that their inters rate is high and their repayment period is short especially for the first timer . Also they are not license by appropriate authority, therefore exercise caution when taking loan from this app.

Conclusion

Above is how to apply for raw loan app , they will surely give you loan but do not take more than you can pay back, try to avoid embarrassment.

Also know that they are not license by appropriate authority If things go wrong it will take time before government will interfere.

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