Mobile Rupee: Instant Loan App Review

Mobile Rupee Review: Mobile Rupee provides a non-collateral and no guarantee-required online loan services to all regular borrower, in order to help each Filipino get their finances back on track.

Mobile Rupee Features:

  • Limit of age for users is 18-60 years old
  • Loan Amount: From up to 20,000.
  • Service fee Service charge: Zero percent.
  • There are no other costs hidden
  • Tenure: The shortest term is 91 days. The longest duration is 365 days.
  • The rate depends on the risk profile and the length of time they have to repay the loan. A minimum rate of interest is 18% per year and the maximum rate is 36% per annum.

Mobile Rupee: Interest Calculation

Maximum Annual Percentage Rate (APR):36%

Example of Mobile Rupee:
User loan of Rs8,000. Annual interest rate of 18%, the loan term is 110 days
Daily Interest: Rs8,000 x 18% / 365days = Rs3.95;
Total Interest: Rs8,000 x 18% / 365days x 110days = Rs434;
Daily Repayment: Rs8,000 / 110days + Rs3.95 = Rs76.68;
Total Repayment: Rs8434

Sample Monthly Payment:
If the repayment begins on January 1st , and lasts up to 110 consecutive days, your repayment schedule is according to:
January: 31day * Daily Repayment = Rs2377.08
February: 28day * Daily Repayment = Rs2147.04
March: 31day * Daily Repayment = Rs2377.08
April: Repay the surplus Total Repayment (January + February + March) = Rs1532.8

Procedure for Mobile Rupee loan applications for first-time borrowers:

1.Download the Mobile Rupee application.
2.Register an account for yourself through the application.
3.Choose the amount of your loan and the loan’s term.
4.Fill with personal information.
5.Loan Review and disbursement of cash.

Mobile Rupee Security:

Your personal information is secure with us. The data is transmitted via an encrypted HTTPS connectivity to us and we don’t divulge it to anyone without your permission, except for Lenders. All transactions are protected with 128 bit SSL encryption.

Contact them:
Address: Sewree Fort Road, Opp John Roberts & Co., Sewri (east),Mumbai.
Email: [email protected]

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