Branch Instant Personal Loan App: Hello everyone welcome to our blog, where we tell you about different types of loan applications. Taking forward this sequence of How to get Loan from Branch Personal Loan App, in today’s article we are going to tell you .
In this article, we will share with you all the information related to Branch App along with the process of taking loan from Branch App, which you should know before taking loan on Branch App.
If you want to take a loan of lakhs of rupees then this application will not prove to be beneficial for you because Branch App is a small personal loan providing application.
But if you need a loan to buy a mobile, buy household items, travel, complete your studies, etc., then Branch App will prove to be very beneficial for you.
What is Branch App?
Branch App is a personal loan providing application, with the help of which you can easily take loan from your mobile sitting at home. Branch App is a very secure and simple application for availing personal loan.
Branch App is a Digital Loan Lending Platform and it is registered as NBFC. Apart from India, Branch App also provides loans in Mexico, Tanzania, Kenya, Naziria.
If we talk about Play Store, then more than 10 million people have downloaded this application and given a rating of 4.5 to Branch App.
Branch App Personal Loan Types
You can get the following types of personal loans with the Branch App:
- Medical Loans/Emergency Hospitalization Loans
- Shopping Loans
- Home Renovation Loans
- Education Loans
- Vehicle Loan
- Travel Loans
- Wedding/Marriage Loans
- Student Loans
How to get loan from Branch App
You can take a loan from the Branch App in the following four steps.
- Download Branch App from your Play Store.
- Create your account on Branch App.
- Apply for loan now.
- After checking your credit score, the loan amount is transferred to your bank account.
Step by Step Process to get loan from Branch App
If you are facing any kind of problem in taking loan from Branch App then follow the steps given below.
- Step 1 – First of all install Branch App from your Play Store.
- Step 2 – Open the Branch App and select your language and click on the Continue option.
- Step 3 – Now click on the option below Take me to Register or Sign In.
- Step 4 – If you are using Branch App for the first time then click on I am New in Branch option. And if you have already created an account in Branch App then click on I Have a Branch Account.
- Step 5 – After this, after selecting your country, click on the option with Register with Phone Number.
- Step 7 – Now you have to enter your 10 digit mobile number and click on Register New Account.
- Step 8 – An OTP will come on the number entered by you, after verifying the OTP, you will reach the homepage of the Branch App. In this way your account will be created on Branch App.
- Step 9 – After this you will see the loan option below, you click on it and click on the button with Start Your Application.
- Step 10 – Allow whatever access the Branch App asks for permission from you.
- Step 11 – Now you will be asked the ID Type, after selecting Aadhar or Voter ID, click on the Continue option. And submit by taking a selfie of yours.
- Step 12 – After this you are asked for some of your basic information and the Branch App checks your credit history.
If you are found eligible for the loan, then the loan amount is directly transferred to your bank account within 8 to 24 hours. It was an easy process to take loan from Branch App.
Features of Branch App Loan
- You do not have to pay any Late Charge or Rollover Fees on taking loan from Branch App.
- Taking loan from Branch App is completely online process, you do not need any kind of paperwork.
- You do not need a guarantor or collateral to take a loan from Branch App.
- You can check your credit score for free.
- You can use the loan taken from the Branch App for any kind of work.
- On being found eligible for the loan, you are provided with an Instant Personal Loan.
Eligibility Criteria for taking loan from Branch App
Following are the eligibility criteria for taking loan from Branch App:
- Your citizenship should be Indian.
- You must be at least 21 years of age.
- You must have aadhar card, pan card and bank account.
- Credit score should be good.
Important Documents for taking loan from Branch App
You will need the following documents to take loan from Branch App:
- Pan card
- Aadhar card
- Bank account number
- A selfie
How much loan will be available from Branch App (Loan Amount)
You cannot take a loan in lakhs of rupees from the branch app, this is a small personal loan application. With Branch App you can take loan from Rs 750 to Rs 50000. If any of your work is getting interrupted due to some money then you can take small personal loan from Branch App.
How much interest is charged on Branch App Loan (Rate of Interest)
Branch App provides you loan with very low interest rates, on taking loan from Branch App, you have to pay interest of 2 to 3 percent per month on the loan amount.
How long will the loan on Branch App be available (Tenure)
If you talk about Tenure in Branch App, then you get 62 days to 6 months for repayment.
Fees and Charge on Branch App Loan
On taking loan from Branch App, you have to pay 2 percent Processing Fees along with GST. Processing Fees are for verification of your document.