Truecaller is a mobile application that is used for caller ID identification, blocking unwanted calls, call recording, flash messaging, and more. Personal loans are the latest addition to the long line of services that truecaller offers.
Yes, you read it right. You can now take a loan from truecaller in a few simple steps. Here, we have explained in detail the features and benefits of the loan, how to apply, the eligibility criteria, and more.
Truecaller Loans come with several alluring features that are suited to the requirements of the customer. The features of Truecaller loans are as follows:
Loan Amount: A Truecaller loan provides a loan amount from Rs. 10,000 up to Rs. 10 lakhs based on your eligibility.
Quick Loan Disbursal: Once you submit your loan application and the documents are verified, the loan will be quickly credited to your bank account.
Instant Loan Withdrawal: The loan amount is quickly credited to your account once your verification is done. Moreover, you can withdraw the funds as soon to use them as you see fit.
Flexible Tenure: You can repay the loan in monthly installments from 3 months to 36 months and choose the tenure that you are comfortable with. This helps you avoid fiscal constraints.
No prepayment charges: You can choose to pay the loan off as early as possible and there will be no extra charges for prepayment.
No late payment fees: Truecaller does not charge you for late payment of the EMI within the month.
Paperless process: Another benefit that truecaller provides is that the loan application process is completely digital. You don’t have to waste time looking for copies of the documents.
Rate Of Interest: The interest rate starts at 14% per year and is determined by the app's analysis of your spending habits and other criteria.
Truecaller has straightforward eligibility criteria. Those who are looking to borrow money from truecaller must fulfill their eligibility criteria to qualify for the loan. Here are the terms of the criteria:
The borrower must be either self-employed or salaried
Salaried or self-employed individual must earn monthly at least Rs. 25,000
The CIBIL score of the applicant must be 650 and above
To successfully apply for a truecaller loan, you just need to submit the following three documents online. The documents are:
Proof of Identity: Aadhaar card, PAN card, etc.
Proof of Current Address: Rent agreement, utility bills, etc.
Proof of Income: 3-month salary account statements
Make sure you upload clear copies of the above documents online to ensure a hassle-free verification process. Else, your application may be rejected.
Truecaller is a mobile phone application that allows you to apply for a loan. To apply for a Truecaller Loan, simply follow the steps stated below:
Open the Truecaller mobile phone app and select 'Know More' followed by 'Continue.'
Enter your personal information, including your name, gender, date of birth, email address, and area PIN code. Click the 'Continue' button.
Upload the required documents, as well as the completed application form, for your loan requirement.
Submit the application form.
Truecaller will verify and critically examine the submitted documents and evaluate your creditworthiness once your application has been processed.
If your loan application is approved, Truecaller will send you a NACH form.
You must print, fill, and sign the NACH form. The completed form must be scanned and returned to Truecaller.
Truecaller will send you the loan agreement on your mobile app once the NACH form is received.
You must review and submit the loan agreement.
Once you submit the loan agreement, the loan amount will be credited to your bank account.
Loan Amount
Min ₹10
Max ₹10,000,000
Rate of Interest
Min 5%
Max 25%
Loan Tenure
Min 3 months
Max 72 months
Truecaller is not only a trusted app for caller ID tracking, but it also offers a number of other services. The personal loan offering is its latest feature introduced to help its customers in times of need. Truecaller loans are easily accessible and instantly available, so those in need can quickly take a loan.
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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