OptaCredit is one of the finest online personal loan providers. OptaCredit has revolutionized the personal loans segment. They use Artificial Intelligence (AI) for data assimilation, and this leads to faster processing of personal loans for the eligible loan applicants. Enhanced algorithms do the predictive analysis, and hence the underwriting process is secure. All these enable OptaCredit to give unsecured loans to qualified individuals.
OptaCredit has made the best use of technology and follows sound lending practices, which ensures a faster process of personal loans. The online application takes a couple of minutes, and the evaluation of the information and approval of the investment happens within 10 minutes. The loan disbursement occurs within 24 hours.
OptaCredit has helped millions to Get Personal Loans and realize their dreams quickly.
The OptaCredit personal loan can be availed by a salaried individual to meet any emergency expenses or family expenses for travel and Marriage Loan or any other type of personal expenses.
|Loan amount||Rs 20,000 to Rs 5 Lakhs|
|Repayment tenure||2 to 36 months|
|Loan turnaround period||Within 24 hours|
|Who can apply?|
|Lowest EMI||3,516 per lakh|
OptaCredit Personal Loans are unsecured loans with repayment options that are flexible. It is a short-term loan. OptaCredit has introduced an initiative called Lending Responsibly. The main objective of this initiative is to make the personal loan affordable to everyone, to have transparent terms and conditions, and to offer support to the borrower when needed. Lending Responsibly makes the lender to conduct thorough checks before lending of every applicant and to make the borrowers aware of the steps of the process followed and give sanction details.
Here are other few reasons to consider OptaCredit Personal Loan:
Following are the features and advantages of OptaCredit Personal Loan:
OptaCredit interest rates range from 8.88% to 15.8% p.a. The flat interest rate depends on the borrower's profile. The higher the risk profile, the higher will be the interest rates. The risk analysis is done based on the amount of loan applied, other outstanding loans, repayment capacity of the borrower, loan tenure asked for, and more, to name a few.
The one-time loan processing fee of 2.5% of the approved loan amount will be charged at the time of disbursement. This amount is deducted from the sanctioned loan amount.
For the prepayment of the loan, there are no additional charges. The advance can be made in two windows. The first is within 6 months of the loan disbursement, and the second is the next 6 months.
The other charges applicable, if any, are mentioned on the loan documents as per the Fair Practices Code.
The basic eligibility for a personal loan with OptaCredit is as follows:
Personal loan eligibility is based on the age, income, and credit history of the applicant. The other factors that are considered are current outstanding loans, repayment capacity, tenure of loan applied for, and so on.
The eligibility can be checked online on the OptaCredit website. The applicant needs to provide personal details like name and contact details, loan amount, repayment tenure. The professional information to be mentioned are Employer name and income details, vintage details, and other EMI and rent outflow details, if any. Basis the above, OptaCredit will crunch numbers and inform whether you are eligible for availing OptaCredit personal loan or not.
The application, verification of documents, OptaCredit Personal loan status, and the sanction of loans are all completed online through the OptaCredit website. Hence the materials for applying personal loans are the primary documents.
List of documents needed as follows:
All the above documents need to be correctly scanned and uploaded. In case any additional documents are required while processing the personal loan application, then the same will be intimated to the applicant.
Financial worries cause stress among corporate employees, and this harms their productivity. OptaCredit brings in Financial Wellness and individual Personal Loans for such employees in partnership with their employers. Corporate Employers can partner with OptaCredit to avail custom credit solutions for their employees.
OptaCredit financial experts offer tips regarding unsecured loans and financial planning ideas. This is done through workshops at the on-site corporate location of organizations. The aim is to educate the employee about financial planning and freedom that follows such an accurate plan.
The corporates can use the financial wellness central online platform to increase financial awareness amongst employees. The employees can improve their credit score and plan taxes wisely using the Employee Savings Calculator.
The employees can read more about financial planning through blogs and videos, specially created by OptaCredit for such organizations for their employee's benefits. All this keeps the employees engaged and well-informed.
The corporate can avail of Personal loan for Employees and Financial Wellness products in three simple steps:
OptaCredit website has an EMI Calculator on its website. The applicant can easily calculate the EMI using the online calculator. The applicant can enter the required loan amount and tenure in months. The EMI calculator will give the range of EMI and also the total interest range.
MyMoneyMantra simplifies the Personal Loan application.
A personal loan is the most in-demand product of banks and non-banking financial institutions. It becomes quite tedious reviewing the various offers offered by these financial institutions. MyMoneyMantra collates all the information and offers for personal loans. It is easy for the applicant to quickly browse through the offers, eligibility, and loan application procedure and choose the right company for a personal loan.
MyMoneyMantra has experts from the field of finance to guide the applicant in the following manner:
MyMoneyMantra guides the borrower in the following manner:
MyMoneyMantra abides by 100% privacy of personal information, and no information is shared or misused. Hence the borrower can be worry-free while applying for a personal loan through MyMoneyMantra.
Once the borrower decides on availing a personal loan, they would need to give necessary information so that the experts from MyMoneyMantra can evaluate the best options for them to choose.
The steps to follow are simple as follows:
The expert will evaluate your profile and connect with the applicant over the phone. The borrower can go through the list and select the suitable option and intimate MyMoneyMantra about the same.
Then the loan processing will happen in 3 steps:
The experts from MyMoneyMantra will guide the applicant in every aspect so that they can get their loan amount without any hassle. The services provided by MyMoneyMantra is free of cost to the applicant.
The OptaCredit contact numbers are 9884 870988 / 9962 495566. They can be reached during working hours. The response to any queries is prompt.
Apart from the OptaCredit contact numbers, you can connect to them through online chat 24x7. The applicant can also email them on email@example.com.
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Yes, you can apply for a loan by filling the online application form. The OptaCredit representative will verify your details, and will collect the documents. After document verification and the disbursal will happen on the next working day.
No, the loan amount will be credited to your bank account directly.
The underwriting process is data-driven, and the evaluation basis the information provided will be done within 10 minutes.
The loan agreement can be e-signed using your Aadhar number. In case, due to any specific reason, e-sign is not possible, then OptaCredit's representatives will come to your house/office at a time convenient to you.
OptaCredit's AI technology can analyze massive data and access your application. In case they need additional information, then they will need additional documents to understand you and help you in a better manner.
There is no cap on the number of times you can apply for a loan. You will need to repay the entire existing loan and then apply for the next. You cannot have more than one personal loan at the same time.
The status of the application can be tracked through OptaCredit's Dashboard. The Real-time status is reflected on the dashboard. In addition to this, you can know the status through SMS and email as well.
The intuitive dashboard displays complete details of the loan amount, EMI paid, interest paid, balance due date, and more. You will also receive SMS and email about the same. In case you can't get the information through the above channels, then you can email at firstname.lastname@example.org. You will need to mention your customer identification number on all emails or calls.
No, there are no loan prepayment charges.
Yes, you can. They have two prepayment options. The first is within the first six months, and the next option is to repay within the next six months. Both the options expire if not availed.
You can pay the EMI using direct debit or ECS. The repayment can also be made through cheque, cash, RTGS/NEFT.
No, the employer is not at risk in case the employee defaults. The employer only has to provide complete employee details and data to validate the application.
No, the loan repayment is designed in such a manner that the EMI is directly debited from the employee's bank account. There will be no liability in the name of the company.
The interest is calculated from the date it is credited to your account till the 7th of the next month. This is interest for the 1st month. For the later months, interest is calculated from 7th to 6th of every month.
As per the current rule, all permanent employees who have completed six months in the organization are eligible for the loan. A personal loan is not offered to contractual and temporary employees.
Your valuable employees can procure personal loan at any time and anywhere easily from OptaCredit.