New Instant Personal loan application | New loan app | Loan app I Bueno loan app
The demand of instant personal loan is increasing day by day and the money reserve is empty with the people. All of this is because of the inflation and it also gives rise to inflation, but to solve this problem we have a solution for you. you can easily take a loan to cover up all your losses but if you can repay it. The simplest way to take personal loan is instant personal loan apps. The Bueno personal loan app is one of the famous loan company newly launched in the market. Here we will briefly talk about this loan app.
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What is Bueno Personal Loan App?
The Bueno Personal Loan App can be downloaded from the Google Play Store. It is designed by Bueno Gig Growth Technologies Pvt Ltd to offer small loans. This app is designed to provide financial assistance to its customers. About one lakh people have downloaded this app so far. Having so many downloads means that people are liking this app a lot. Talking about the rating of this app, this app has got 4.1 out of 5.0 rating on Play Store. In fact a rating of 4.1 is a very good rating. This is because it is easy to take a loan with this app. At the same time, it provides loans to the people according to their need. Along with this, this app is a registered app by the Reserve Bank of India. It follows the guidelines of the Reserve Bank of India, so if you also want to take a loan, then this app can be a good option for you.
How much loan amount one can get from Bueno Loan App?
With the Bueno Personal Loan App, you can take a loan up to Rs.10,000. Which you have to pay in installments. If you also need this much money then this app will be very good for you. By the way, the loan amount is decided according to the risk profile of the applicant. However, if you ever took a loan, which you repaid on time. So you don’t need to panic. In this case, you can apply for maximum loan.
For how many days loan is available with Bueno Loan App?
As you know that this app only gives loan up to Rs 10000, so according to this this app gives loan for short time. By the way, the maximum limit for repayment of loan from this app is three months. You can repay the loan amount in installments within three months after taking the loan.
How much interest is charged on taking a loan from Bueno Loan App?
The interest rate on this app is low as compared to other apps. The interest rate on this app is 2% per month. After comparing the interest rates of many apps, I have seen that the interest rate of this app is actually much lower than the interest rates of other apps. If its annual interest rate is given, then it charges a maximum interest of 24% per annum.
What is the processing fee on Bueno Loan App?
After the interest rate of the Bueno app comes the turn. Processing fee on this. There is only a processing fee of Rs.200 for taking a personal loan from the Bueno Loan App. After the interest rate, the processing fee is also right on this app so that customers can benefit from it. Where the processing fee on other apps is also up to Rs 1000, the same on Bueno Finance App is only two hundred rupees.
Example of interest and processing fees of bueno loan app
To take a loan from the Bueno Personal Loan App, one must understand its interest and processing fee. So that there will be no question in your mind.
Let us assume that you have taken a loan of Rs 10000 from Bueno Loan App. The duration of which is three months. That is, you have to repay this loan in three months. Now let us understand the interest and processing fee involved.
The rate of interest is = 2% per month
Loan tenure is = 3 months
The interest on this loan for three months will be
10000×2%×3=Rs 600
Processing Fee = Rs.200
And the amount You get is :
loan processing fees
10000-200=Rs.9800
The amount to be paid in three months will be =
loan + interest
10000+600=Rs 10600
There will be an installment every month to repay this loan in three months.
Rs 10600/3=3533 per month
Annual Percentage Rate will be = Total cost of loan
The total cost on interest will be
interest+fees
600+200=Rs.800
APR(Annual Percentage Rate)
= (800/10000)×(12/3)×100=32%
Thus if you take a loan of Rs 10000 for three months. So the total interest on this for three months will be Rs 600. And the processing fee on this will be Rs 200. On the same loan of 10000, Rs 9800 will be given to you after deducting 200 processing fees. The loan amount with the same interest will be Rs 10600, which if you repay in three installments in three months, then the installment of every month will be Rs 3533. And the APR (Annual Percentage Charge) on this loan will be 32% which means you will have to pay an additional amount of 32% in a year on this loan.
Now you must have understood the interest, processing fee, APR very well.
What are the documents required to avail loan from Bueno Loan App?
The documents required to take loan from this app are-
• Aadhar card
• PAN Card
• Sellfy
Who can take a loan with the Bueno Loan App?
The following things are necessary to take a personal loan from Bueno Loan App-
• The applicant should be a citizen of India.
• Applicant’s age should be more than 21 years.
• The applicant should have some source of earning. Like job or own business etc.
Bueno Loan App Features
It is considered better to take a loan from Bueno Loan App because-
• With this, a loan of up to 10 thousand rupees is available.
• You get three months to repay the loan.
• This is a short term loan app.
• The processing fee for taking loan from this is only Rs.200 which is very less processing fee.
• Interest rate payable on taking loan from this app.
• There are no other hidden charges on this app.
• Getting a loan with the Bueno Loan App is very easy.
• After loan approval, the money is transferred to the bank account immediately.
• The APR (Annual Percentage Rate) is 32% which is comparatively accurate.
How to apply for loan with Bueno Loan App?
Applying for a loan with the Bueno Loan App is very easy for this you have to do the simple steps which are given below:
- Download the application from App store or google play store.
- Sign Up using Mobile number.
- Make a profile.
- Fill all the personal details.
- Chose the loan amount.
- Upload all the KYC documents.
- Apply for the loan .
- After the approval comes then the loan amount is credited to the account of the beholder.
So this is how one can apply for instant personal loan from Bueno personal loan app.
Conclusion:
So in this blog post we have discussed all about this new instant personal loan app but if you want to know more about personal loans, money, finance and many more and also read other articles. Hope you liked it . Till then bye and take care.
