Wonder loan app review: interest rate, is it it legit

Wonder loan app is another loan app in India, where you can obtain quick loan without collateral or paper work.

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 within one hour of submitting application your loan will be disburse.

With this wonder loan app you can obtain up up to 2 lakh at a go.

Requirements to obtain loan from wonder loan app

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

• Have good credit score
• Have bank account
• Be above 18 years of age
• Reside in India
• Have smart phone with which to download the loan app

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

How to apply for wonder 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

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 wonder loan app

With wonder loan app you can obtain up  to 2 lakh without collateral or paper work. If you are applying for the first time the amount of loan you are eligible to obtain will be less than this but as you continue to take loan from this app it will increase.

Wonder loan app interest rate and repayment period

Their interest rate is between 5% to 22% depending on the amount of loan obtain and the repayment period.

Their repayment period is between 7 days to 365 days also depends on the amount of loan obtain. For the first timer your interest rate will be high and your repayment period Will be high but as you continue to take loan from this app, the amount of loan you can obtain will be increase.

Repaying your wonder loan app

To payback your loan head over to your dashboard

click on loan repayment

There you will see deferent options 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 bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in until you pay back and clear your name with credit bureau.

Trust me this process is usually time consuming, your best bet is to pay your loan as at when due.

Is wonder loan legit

Yes, wonder 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 wonder loan app

Wonder loan app is a legit loan app they will surely give you loan. They have negative review on play store which shows they are bad loan app. Their interest rate is high and the repayment period is short Also they can harass you default.

I will advice you not to take loan from this app but if you must, you should exercise caution.

Conclusion

Above is how to obtain loan from wonder loan app. As stated above wonder loan app is legit they will surely give you loan bur ensure you obtain loan that you can pay back to avoid had I know and embarrassment.

Do you like this article?
Feel free to share it