Aapka Apna Loan

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Aapka Apna Loan

Aapka Apna Loan is an unsecured business loan designed for the lower income group, self-employed vendors, and retailers who rely on QR Code transactions for their daily business incomes.Self-employed vendors and retailers who use QR Code as a as a means of their daily business transactions are eligible for this loan.

Key Features of Aapka Apna Loan:
  • Loan Amount: ₹10,000 – ₹1,00,000
  • Loan Tenure: 40 or 60 days
  • Processing Fees: 3% of approved loan amount + 18% GST
  • Daily ROI: 0.4%
  • Penalty / EDI Bounce Charges: ₹200 per bounced EDI
  • Repayment: Daily instalments
  • EDI Start Date: Day after tomorrow from disbursement date
  • Lock-in Period for Foreclosure: 30 days
Requirement

Required Document

Eligibility

  • Self-employed vendors/Shopkeepers/Retailers – Owned Shop
  • Self-employed vendors/Shopkeepers/Retailers – Rented Shop
  • Self-employed vendors/business person with home setup in OWNED house (Except Transport Business)
  • Applicants should have good QR code & POS transaction records and a positive credit history to be eligible for the loan.

Benefits

  • Zero Pre-Payment Charges: Pay off your loan anytime without extra fees.
  • Fixed Rate of Interest: No surprises, predictable repayment.
  • No CIBIL Check: Accessible even if you don’t have a credit score.
  • Minimal Documentation: Hassle-free application process.
  • Low Interest Rate: Affordable daily repayment.
  • Short Loan Tenure: 40 or 60 days, ideal for quick financial needs.
  • Daily Repayment: Avoid the burden of monthly EMIs.
  • Zero Additional EDI Charges: EDI starts from T+2 (day after tomorrow) post disbursement.
  • Zero Foreclosure Charges: After 30 days, you can close your loan without penalties.
  • Door-to-Door Services: Step-by-step assistance for a seamless experience.
  • Fast Disbursement: Receive your loan within 72 hours.

Mandatory Documents

  1. Business Documents:
    • ✔ Latest 3 months’ account statements of the QR/POS code used for daily business income transactions
      (Note: Paytm Banking & Wallet statements will not be considered)
    • ✔ 2 shop photos with the shop name clearly visible (inside & outside)
    • ✔ KYC: Address proof & PAN card
    • ✔ Shop registration documents: Shop Act / Gumasta / Aadhaar Udyog (Udyam) / Food License (FSSAI)
    • ✔ 4 references: 2 blood relatives & 2 friends
  2. Documents for Own House or Own Shop:
    • ✔ Latest Electricity Bill OR Latest Gas Bill
    • ✔ Aadhaar Card, Driving License, Passport, or Voter ID
  3. Documents for Rented House or Rented Shop:
    • ✔ Notarized Rent Agreement with stamp
    • ✔ Rent Agreement must be valid for at least 90 more days
    • ✔ Business License (if shop address is mentioned)
    • ✔ Can arrange/renew Rent Agreement if expiring within 90 days

Application Process

  • Provide mandatory details (KYC, Latest 3 Months Account Statement linked with the QR code).
  • Submit a copy of Business License and Address Proof, along with a Shop Photo with Name.
  • Brightstar will evaluate the eligibility of the loan with the amount.
  • Loan amount is sanctioned after necessary checks and verifications.
  • Receive funds directly in your account within a few hours.
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