Flexible Loans with a Credit Line. Read on to Know the Sourcing Terms

A credit line is an instant facility that allows you to borrow a fixed amount. The top digital lending app of India provides up to ₹1 lakh. You can use the money to shop on online retail stores like Amazon, Flipkart, Myntra, Big Basket, and Big Bazaar. You can repay the money on a ‘revolving basis’ without applying for a new loan. The entire process is 100% online that cuts the hassle of hefty paperwork.

A personal credit line is a relatively new concept. Although convenient, the terms and conditions can be slightly tricky. The good news is that this article explains each one in layman’s language. It will help you know better and apply for a loan without help.

Credit Line Configuration

This lays down certain information which is crucial to know before applying. The tenure is either 90 days or 180 days from the date of approval. A processing fee of ₹500 or 1% of the loan amount, whichever is higher will be charged extra. The maximum loan eligibility is 500% of the net monthly salary. Know the credit line configuration clearly to avoid confusion.

Broken Interest

Credit Line App

One Approval, Multiple Loans

A credit line can be a mix of personal loans and shopping loans. You can take 1 personal loan and multiple shopping loans. Read the PF and broken interest rates beforehand for an informed decision.

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