Bharat Loan
Bharat Loan is an RBI-compliant digital lending platform that offers online personal loans up to ₹5 Lakhs to salaried individuals. The loan can be repaid in a flexible tenure of 61 to 365 days with an Annual Percentage Rate of 35% p.a. You have the option to prepay the loan without any prepayment penalty.
BharatLoan Personal Loan Details
Below are the key details of the Bharat Loan:
| Loan amount | ₹5,000 - ₹5,00,000 |
|---|---|
| Interest rate | Maximum 2.9% per month |
| Tenure | 61 - 365 days |
| Processing fee | Up to 10% of the loan amount + 18% GST |
| Minimum income | Above ₹30,000 per month |
Features & Benefits of Bharat Loan
Here are the main features and benefits of the BharatLoan:
- Unsecured, collateral-free personal loan ranging from ₹5,000 to ₹5,00,000.
- Flexible repayment tenure from 61 to 365 days, depending on your eligibility.
- No prepayment penalty is levied.
- Approval is based on the borrower’s credit profile and submitted documents.
- 100% digital process from application to disbursal.
- Funds are transferred directly to your bank account without any physical paperwork.
- No hidden fees are involved. All charges are clearly disclosed before loan approval.
- Loans are issued by RBI-registered lender Solomon Capital Private Limited and partner NBFCs listed on BharatLoan’s official website.
- Loan amount is calculated based on several factors like monthly salary, employment stability, and repayment capacity.
- BharatLoan lets you track your loan application status through its website and mobile app.
- Reliable credit solutions for individuals during financial needs like medical emergencies, home repairs, education, or utility payments.
Bharat Loan Interest Rates & Charges
- Interest rate: Maximum 2.9% per month.
- Annual Percentage Rate (APR): 35% p.a. (fixed).
- Processing fee: Up to 10% of the loan amount + 18% GST.
- Prepayment: No prepayment penalty.
Compare Bharat Loan App with Other Loan Apps
Below is the comparison table for the Bharat Loan app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| BharatLoan | Maximum 2.9% p.m. | ₹5,000 - ₹5 Lakhs | 61 to 365 Days |
| Rupee Raftaar | 12.00% - 24.00% p.a. | ₹5,000 - ₹5 Lakhs | 3 to 24 months |
| Rupee112 | 35.00% p.a. APR | ₹20,000 - ₹5 Lakhs | 61 to 365 Days |
| SalaryOnTime | 0.25% per day onwards | ₹10,000 - ₹1,20,000 | Up to 12 Months |
| Zype | 18.00% p.a. onwards | ₹3,000 - ₹5 Lakhs | 6 to 36 Months |
| Loanwalle | 2.91% p.m. onwards | ₹10,000 - ₹3 Lakh | 12 to 36 Months |
| Squid Loan | 0.9% per day onwards | ₹5,000 - ₹1 Lakh | 7 to 365 Days |
| LoanPey | 2.00% p.m. onwards | ₹5,000 - ₹1 Lakh | 3 to 12 Months |
| Creditt+ | 0.3% - 0.6% per day | ₹8,000 - ₹35,000 | Up to 3 Months |
| Click My Loan | 12.00% p.a. onwards | ₹6,000 - ₹10 Lakh | 6 to 60 Months |
Bharat Loan Eligibility Criteria
The Bharat Loan eligibility criteria are mentioned below:
- Monthly income: Above ₹30,000
- Nationality: Must be an Indian resident.
- Age: Above 21 years.
- Profession: Salaried professionals with a stable income.
- Credit score: CIBIL score should be Fair.
- Bank account: Must be a savings bank account holder.
- Other criteria: Must provide accurate and verifiable identity and financial information.
Documents Required for Bharat Loan
Below is the list of documents required to apply for the Bharat Loan:
- KYC documents: PAN, Aadhaar, and Bank Details.
- Last 3 months Salary Slips
- Last 3 months' Bank Statements of the salary account
- Address proof for verification and eligibility assessment: Driving Licence, Voter ID, Passport, Utility Bills (Electricity/Water/Gas), Postpaid Bill, or Landline Bill
- Completely filled personal loan application with your current passport-size photograph
Steps to Apply for Bharat Loan Online
Follow the steps given below to apply for the BharatLoan online:
- Complete your loan application through the BharatLoan app.
- Upload the required documents, including PAN, address proof, and bank statements.
- Your details are securely verified by BharatLoan’s team.
- Once your request is approved, the loan amount is credited directly to your bank account.
Bharat Loan Customer Care Details
- Phone: +91-9654629321
- Mail: care@bharatloan.com
Contact details for queries or complaints:
- Mobile: +91-9220912305
- Email: divyanshu.sharma@bharatloan.com
FAQs
The interest rate of Bharat Loan is up to 2.9% per month.
The Bharat Loan is real. It issues loans through RBI-registered lender Solomon Capital Private Limited and partner NBFCs listed on BharatLoan’s official website.
Bharat Loan disburses the approved loan amount within 10 to 15 minutes online into your bank account once your documents are verified.
No, the Bharat Loan app is currently available for Android devices only via the Google Play Store.
The repayment tenure of Bharat Loan is 61 to 365 days.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.