Yuva – Personal Loan App

MAIN FEATURES OF YUVA INSTANT LOAN APP:

• Competitive products
• Easy to get user interface and modern design
• Optimized process with minimum steps and information required
• Various loan repayment options (UPI, card, wallet)
• 24/7 customer support (email, helpline, Whatsapp chat)

DETAILS AND REPRESENTATIVE COST CALCULATION: 

• Loan amount: up to 50,000 Rs.
• Tenure: 62 – 365 days
• Interest rate: 36% per annum

The Annual Percentage Rate (APR) represents the total cost of borrowing on an annualized basis and includes the applicable interest rate along with other fees and permitted charges, calculated in accordance with applicable laws and regulatory guidelines.

The Annual Percentage Rate (APR) applicable to our loans varies and depends on a variety of factors including loan tenure, and amount. Pricing is determined through a combination of algorithmic models and policy-based evaluation in line with applicable regulatory requirements. Our Annual Percentage Rate (including interest rate and all fees) can range from 45% to 195% per annum. APRs are by definition higher for shorter loan tenures and can also vary due to higher risk categorization based on the nature and structure of the loan product chosen.

All costs associated with borrowing — including interest and any applicable fees — are presented clearly to customers in the Key Fact Statement (KFS) before they accept a loan. This ensures full transparency and allows borrowers to make well informed decisions and hence strictly follows the regulations of the RBI.

For example, if the loan amount is 5,000 Rs. with a repayment period of 124 days (four installments in 31 days each), the interest is 36% per annum with a one-time processing fee of 678 Rs. The total cost of the loan will be 382 Rs. (interest, calculated based on declining principal balance) + 678 Rs. (all fees applicable) = 1,060 Rs. The total amount to be paid is 5,000 Rs. + 1,060 Rs. = 6,060 Rs., so average monthly payment is 6,060 Rs. / 4 = 1,515. Rs and APR 97%.