IIFL is a Non-Banking Financial Company (NBFC). Many types of facilities are provided in this group. The company has already been providing home loan facility and has launched a new business loan scheme, in which any person can apply for a loan up to Rs 10 lakh through WhatsApp and his application is approved within 10 minutes. Will go The company claims that minimum documents will be required to apply for the loan. IIFL will use Artificial Intelligence (AI) for this loan, which will verify the details of the person applying for the loan. For the loan, the KYC of the first person will be completed and his bank account will also be verified.
IIFL has informed through a press release that in the new scheme, one can apply for loans ranging from Rs 10,000 to Rs 10 lakh, which will get a repayment period of up to 5 years (60 months). As we mentioned, the loan will be approved in 10 minutes, however the loan amount will be transferred to the bank account within 24 hours.
To take a loan, you have to send Hi message through WhatsApp on 9019702184. After this you will get a welcome message from the company. You can apply for the loan by following the steps mentioned here. Explain that you will be asked the name of the person applying for the loan, whether he has his own business or runs in partnership, how long is the business running, how much is the turnover of the business, etc. After this the credit history of the person will also be checked.
After checking all the details, the loan amount will be offered to that person by IIFL. In this, information about the loan amount, interest and monthly installment will be given. After the person selects this amount, he will have to give his bank account information, after which the amount will be sent to his account. According to the company, the annual interest of the loan will be between 16% to 30% and in addition 3% of the total loan (GST exclusive) will be charged as loan processing charge. There will be some other charges as well, about which you can visit this page for more details. <!–
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