Sop Pay instant loan - Facilitator of Instant Loans
Sop Pay instant loan is a finance application that helps facilitate instant loans ranging from ₹ 10,000/- to ₹ 20,00,000/- through its fintech partner. The application is designed to cater to salaried professionals and businessmen only. The Annual Percentage Rate (APR) varies from 14% - 28% per annum, and the loan tenure ranges from 6 to 24 months.
The loan amount is disbursed directly to the bank account of the borrower within a few hours after submitting the KYC and verifying the income with the registered NBFCs. The processing fee is 2.5% of the loan amount, and the interest rate is between 14% to 28% per annum. The total cost of the loan includes the interest amount and processing fees, and a representative example is provided in the application.
The application is easy to use and provides instant eligibility checks based on basic details. The application also offers a straightforward loan agreement process through its registered NBFCs. Sop Pay instant loan is a loan lead generator, and it works only with RBI registered NBFCs such as MASS Finance Ltd. and Fullerton India Credit Company Ltd.
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