Mudrakwik loan 2022: Check here to know how to apply online? Mudrakwik is an app that can help you take a loan within minutes without having to worry about any paperwork and documentation. The entire process runs entirely online and hassles free. You can take out a loan directly from the comfort of your home. In this article, we will give all the details related to mudrakwik loan.
Features of Mudrakwik Loan
There are a lot of features available if you are planning to take a loan from the MudraKwik app. You can take an instant loan in which the amount ranges from 1,000 to 5 lakhs. However, it would help if you had a good credit score. However, you can take out a loan with a lower credit score as well, and later, you can improve the credit score by paying the loan amount within a period and having a good relationship with the app.
You can easily apply for a loan by using your phone number and bank account. The best feature of the app is its EDIs. You can quickly repay the loan daily without being worried about the EMIs, and their calculations.
| Features | MudraKwik instant loan is a very famous and successful platform from where you can easily take instant loan within minutes and the amount is also very flexible ranging from 1,000 to 5 lakhs. You just need to be eligible for the loan which is not a big deal. The entire process is completely online and hassle free. There is also an option to repay the loan in easy EDIs |
| Eligibility criteria | The applicant must have to be a citizen of India to be able to take a loan from it. You need to have a regular source of income so that you can easily repay the loan. Your age must have to be either equal or 18 or more than that, but it should be less than 45 |
| Application process (Online) | The application process is completely online and hassle-free. You can easily apply for the loan within minutes directly from the comfort of your home. There are only a few steps to get the loan. Download the app, or use the official website |
| Documents Required | Identity proof, address proof, income proof, and few other proofs are required, for that you can use Aadhaar card, passport, voter ID card, driving license, bank statement, salary slip, etc. |
Eligibility criteria
There are some eligibility criteria available that must be known to everyone who wants to take a loan from the MudraKwik app. However, the eligibility criteria are nothing special or new for those who have taken a loan before. However s, it’s still relatively unique for beginners and amateurs, and they need to check all the eligibility criteria.
Also read about: Register Mobile Number in Bank of India
We have mentioned all the eligibility criteria below:
- The applicant must have to be a citizen of India to be able to take a loan from it.
- You need to have a regular source of income, so that loan repayment remains smooth.
- Your age must have to be either equal to 18 or more than that, but it should be less than 45.
- You need to have a bank account as the loan amount gets transferred directly into it.
- You need to have a good credit score to take out a heavy loan amount.
Application process (Online)
The application process is straightforward and it’s pretty hassle-free and convenient as well. As the entire process is entirely online, that makes it even more convenient. You can take out a loan directly from the comfort of your home. There are various things you do for the Money, as there are no limitations on its use. There are only a few steps to apply for a loan from the MudraKwik app.
We have mentioned all the steps by which you can easily apply for a loan from the MudraKwik app:
Step I – first of all, you need to download the MudraKwik app either from the Play Store or any other app store.
Step II – you can also visit the official website, www.mudrakwik.com, to know more details about the loan and its tenure. Interest and other things.
Step III – You need to get yourself registered on the application by providing details about your bank account, phone number, email’d, and other things.
Step IV – after registering, you need to fill the application form. You need to choose the loan amount, tenure, interest rate and other relevant things.
Step V – once you have filled the application form, you need to upload the documents required. You can upload the scanned image of the papers.
Step VI – after successfully submitting the application form, you can expect the loan to be transferred to your bank account within a few minutes or at most a day.
Documents required
- Identity proof – Aadhaar card, passport, voter ID card, etc.
- Address proof – Aadhaar card, passport, driving license, etc.
- Income proof, for which you can either use the bank statement of the last few months or the most recent salary slip. You can also use other relevant documents related to your income and profession.
- A pan card is required for a successful KYC.
Frequently asked questions
What is the maximum loan amount which I can take?
Well, it depends entirely on your income and other related factors. However, the maximum amount which one can take is five lakhs.
From where could I check my application status and other things?
You can quickly check all the details directly from the app or its official website.
What are the EDIs and how does it work?
EDIs are actually, Estimated Daily Interest. It is pretty similar to EMIs, but it works daily. You can repay the loan amount daily.
What is the maximum interest rate which will be applied on the loan amount?
The maximum interest rate is 36 %, but it’s the utmost interest and depends on the applicant’s income and other factors.
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