Ram Fincorp Loan App Interest Rate?|Ram Fincorp Loan App Customer Care No |Ram Fincorp Loan App

In today’s fast-paced world, it has become very difficult and complex to manage our financial expenses. In daily life and increasing financial expenses and needs, and in a financial landscape, having access to timely and affordable loans can make all the difference. We hope that through the means of our article we will be able to help you and will be able to make it convenient to choose a reliable lending platform.

In this article we are going to talk about a loan application name “Ram Fincorp”. We will try to give you a proper review telling, “What is Ram Fincorp”, “Is it trustworthy or not”. You will also get to know about the application’s features, how to apply for a loan from this application. Lasty our approach would be to give you our honest opinion covering both pros and cons.

WHAT IS RAM FINCORP

Ram Fincorp is a loan application which promises to provide a personal loan of up to rupees 2 Lakhs. This lending platform claims to offer stress and hassle-free personal loans at your fingertips. Ram Fincorp is RBI registered NBFC. So, we can say it is a secure and trusted platform. According to the description of this application on Play store, it claims to provide the fastest disbursals with low interest rates. It also says that the loan amount will be directly credited to your bank account within 30 minutes. The tenure would be around 90 days to 1 year.

 

IS RAM FINCORP TRUSTWORTHY???

Yes, Ram Fincorp is a completely trustworthy application as it is a unit of R.K Bansal Finance Private Limited NBFC, which is registered with the RBI. So, your personal data collection and information would be completely safe and secure (like your Adhaar Card and PAN Card) in this platform.

 

LOAN STRUCTURE

Ram Fincorp Personal Loan provides a personal loan ranging from Rupees 5,000 to Rupees 2,00,000 based on your requirements
Loan Amount : 5,000 to 2,00,000 rupees
Interest Rate : Up to 35% per annum 
APR : 35% MAX
Age : 21 years to 55 years
Late Payment Fee : as applicable ( Charged only, if repayment is delayed)
Processing Fee : Up to 5%
Loan Tenure : 90 days to 365 days
Pre-closure charges: As applicable
SAMPLE LOAN CALCULATION
Loan Amount : Rupees 30,000 at interest rate of 30% per annum
Loan Duration : 3 months
Total personal loan Interest = Rupees 2,250
Processing Fee (PF ) + GST = 500+90 = 590 rupees
Total Deductibles : Rupees 590
Credited Amount : Loan Amount – Deductibles = 30,000 – 590 = 29,410 rupees
Total Repayable Amount (Loan Amount + Interest) = Rupees 32,250
Monthly EMI Repayable (Loan Amount + Interest/ number of EMIs) = Rupees 10,750
PF = GST are deducted upfront during the loan disbursal.

ELIGIBILITY CRITERIA 
To apply for loan from Ram Fincorp:
Individual must be a citizen of India.
Individuals must be 21 years of age or older.
Individuals must have a minimum income of Rupees 30,000.

DOCUMENTS REQUIREMENTS

To apply for a loan from Ram Fincorp one must have the following documents:

One would need an Aadhar Card

One would need a PAN Card

Salary Slips (for the last 3 months)

Salary account Bank Statement (3/6 months)

Proof of address  

ADVANTAGES OF RAM FINCORP 

This application promises you to provide Customized Personal Loans as per individual requirements.

It is an RBI registration NBFC that gives you a secure and safe data system.

Ram Fincorp promises you to provide an Instant Approval and Disbursal.

This application provides you with a User-Friendly environment which is easy to use.

It provides you with a platform with transparent processes and no hidden charges.

 It also provides flexibility in repayment options.

DISADVANTAGES OF RAM FINCORP

This platform charges you a high interest rate up to 35% which is according to your profile.

You will need a good credit score (CIBIL) to get a loan approved, otherwise if you don’t have a good credit score, your application most likely will be rejected.

They charge you up to 5% processing fee which is actually a bit higher than usual.

The loan duration this application provides is up to 1 year, which is not that much. 

Sometimes they give even short tenure of around 15 to 20 days.

CUSTOMER REVIEW 

On the basis of customer review, the people who applied for loans from RAM FINCORP. They have mixed reviews about it as per their opinion, they said they did receive the loan amount, but the interest rates were quite high also the tenure that was mentioned from 90 days to 365 days wasn’t given. Instead of that they were given a tenure of 15 days, 20 days, 30 days etc. Apart from that customers faced a glitch in this application which says the loan hasn't been closed even after all repayments are made. Though this glitch automatically resolves after 1 to 2 weeks.

CONCLUSION

After reading all the information and customer reviews about this application, we came up with the conclusion that even though it is a trustworthy application, which provides a safe and secure platform for personal loans. It can provide you with a personal loan of up to 2,00,000 rupees but there are some disadvantages that cannot be ignored like high interest rates, short tenures. We would suggest that you apply for a loan if you are facing an emergency, and you are not getting loans from other platforms. But if you are not in an emergency, you sure can check different platforms which might be more convenient. 

RAM FINCORP CONTACT INFORMATION :

Contact Number :- +919899985495

Official Mail ID :- info@ramfincorp.com

Official Website :- https://ramfincorp.com/

Registered & Corporate Office Address :- 4338, Padam Singh Road, Karol Bagh New Delhi - 110005

We hope that this article would be help