Choice Money App

Features Choice Money App

The Choice Money App allows users to apply for MSME business loan.
Now, experience the convenience of our services available anywhere, anytime with our easy-to-use android mobile app.
👉 Following are the features and benefits of seeking MSME business loan from us:
✔️ Avail loan amount starting from Rs.
50,000.00 (Fifty thousand) to Rs.
25,00,000.00 (twenty-Five lakhs)
✔️ We offer attractive interest rates, and is up to 36% per Annum
✔️ Flexible loan repayment tenure ranging from 12 months to 84 months
✔️ Completely digital loan application process
✔️ Loan facility available at far flung locations
✔️ Instant approval and fast disbursement to your bank account
✔️ Assisted mode for onboarding journeyHow to apply for MSME business loan:
✔️ Download Choice Money App
✔️ Provide your details and check eligibility
✔️ Complete your KYC and documentation
✔️ Get loan amount disbursed in your bank account promptly
👉 An illustration on “How the loan modalities work?” as below:For Example,
👉 If, Loan Amount: Rs.
1,00,000.00 | Tenure: 12 Months | Rate of Interest (ROI): 20% | Processing Fee: 1.0%
👉 Then, Processing Fee Amount: Rs.
1,000.00 | EMI: Rs.
9,263.00
👉 Therefore, Total Interest Payable: 9,263.00 x 12 (months) – 1,00,000.00 (principal amount) = Rs.
11,161.00
👉 Total Amount repaid after 12 months will be Rs.
1,12,161.00 at an APR of 21.21%.
👉
👉 These numbers are for representation purpose only.
Actual interest rate, processing fee, and APR will depend upon customer’s credit assessment and other factors.