MudraKwik – Instant Loan App

Mudrakwik is India’s first truly instant loan application.

Loan Amount: From ₹ 1,000 to 5,00,000.
Tenure: the shortest tenure is 75 days, the longest tenure is 500 days. Interest rate: It depends on the customer’s risk profile and loan tenure. The maximum interest rate is 34.6 % per annum.
For example: If the loan amount is ₹50,000 and the interest rate is 30% per annum with the tenure of 75 days, after deducting the processing fee, the interest payable is as follows :
Interest = ₹ 50,000 * 30% / 365 * 75 = ₹ 3082.
Processing Fee: It varies according to the loan amount and tenure. It varies from 2% to 4.3%
Example: For 1000 rs loan processing fee is Rs.42.38+GST