REDCARPETUP LOAN APP

RedCarpetUp has partnered with R͟e͟d͟u͟x͟ ͟C͟r͟e͟d͟i͟t͟ ͟F͟i͟n͟a͟n͟c͟e͟ ͟P͟v͟t͟ ͟L͟t͟d͟,͟ ͟r͟e͟g͟i͟s͟t͟e͟r͟e͟d͟ ͟N͟B͟F͟C͟ ͟w͟i͟t͟h͟ ͟R͟B͟I͟, to offer instant loans.

RedCarpetUp loans range from ₹500 to ₹50,000.

Loan terms range from 3 months to 36 months.

Annual interest rates (APR) range from 0% to 29.95% with an equivalent monthly interest of 0% to 2.49% only.

Processing fees for low risk customers range from 0% to 3%, while for very high-risk customers it ranges from 2.5% to 6.5% of principal.

Apllication fees range from ₹0 to ₹650.

An Example of a RedCarpetUp loan

Borrow ₹50,000 at an interest rate of 22% (per annum) for a period of 12 months with an application fees of ₹350 and processing fee of 2.5%:

Processing fee will be ₹1,250 for 12 months

The APR will be 28.372%

Total interest in 12 months will amount to ₹6,156

Monthly EMI of the loan will be ₹4,679.72

Total Payments and Fees will be equal to ₹57,756.63

Loan conditions may vary depending on your repayment history with RedCarpetUp and your CIBIL score.