Speedo Loan
SpeedoLoan is a trusted digital lending platform that offers instant short-term loans up to ₹1 Lakh for up to 365 days’ tenure at an attractive interest rate of up to 1% per day. Speedo loan involves a paperless process, with clear terms and a customer-first approach, making borrowing simple and reliable for everyone. Loans are offered to eligible individuals based on their income and employment status.
Speedo Loan Details
Below are the key details of Speedoloan:
| Loan Amount | ₹5,000 - ₹1 Lakh |
|---|---|
| Tenure | Up to 365 days |
| Interest Rate | Up to 1% per day |
| Processing Fee | Up to 10% of the loan amount |
Speedo Loan Interest Rates & Charges
The following interest rates and fees apply to Speedo loans:
- Interest rate: Up to 1% per day
- Processing fee: Up to 10% of the loan amount
- APR: 547.5% per annum (varies based on tenure/rate)
Features & Benefits of Speedo Loan
Here are some attractive features and benefits of Speedo Loan:
- Flexible loan amount varying between ₹5,000 and ₹1 Lakh.
- Affordable interest rate of up to 1% per day.
- 100% online process through mobile app in 5 minutes, enabling borrowers to apply for the loan anytime, anywhere, without any branch visit.
- Flexible repayment tenure of up to 365 days for convenient repayment.
- If the application is approved, funds are typically disbursed in a short span.
- Instant loan approval within minutes.
- Repay your loan conveniently via a secure online system.
- Get your approved funds instantly without delay.
- Quick funds for medical bills and other emergencies without financial stress.
- Loan amounts may vary depending on your income, credit history, and local regulations.
- Repayment terms vary depending on the loan amount and type.
- Generally, loans can be repaid in instalments over a set period, with bi-weekly or monthly payment options.
- Borrowers can often prepay their loans without incurring penalties.
Compare SpeedoLoan App with Other Loan Apps
Below is the comparison of the Speedo personal loan app with other loan apps:
| Lender | Starting Interest Rates | Loan Amount | Tenure |
|---|---|---|---|
| Speedo Loan | Up to 1% per day | ₹5,000 - ₹1 Lakh | Up to 12 months |
| Branch Loan | 2.00% p.m. | ₹500 - ₹5 Lakhs | 3 - 12 months |
| RupeeRedee | 28.00% p.a. | ₹2,000 - ₹1,5 Lakhs | 2 - 12 months |
| TrueBalance | 2.40% p.m. | ₹5,000 - ₹2 Lakhs | 6 - 12 months |
| CASHe | 2.79% p.m. | ₹45,000 - ₹3 Lakhs | 9 - 18 months |
| FatakPay | 12.00% p.a. | ₹30,000 - ₹5 Lakhs | 3 - 36 months |
| InCred | 13.49% p.a. | ₹50,000 - ₹15 Lakhs | 12 - 60 months |
| Muthoot Finance | 13.50% p.a. | ₹50,000 - ₹20 Lakhs | 3 - 60 months |
| SMFG India | 13.00% p.a. | ₹50,000 - ₹30 Lakhs | 12 - 60 months |
Speedo Loan Eligibility Criteria
To qualify for a loan with Speedoloan, you typically need to provide proof of your employment, a steady income, and meet certain credit criteria. Specific requirements may vary by loan product and local regulations.
Documents Required for Speedo Loan
Speedo Loan generally requires minimal documentation for a digital application, focusing on the borrower’s identity, address, and income verification. Essential documents typically include:
- PAN Card
- Valid Aadhaar Card (often used for KYC)
- Bank account details (with recent bank statements).
Steps to Apply for a Speedo Loan
- Download the Speedo Loan application via the App Store or Google Play Store.
- Create an account for registration using your mobile number.
- Fill in your profile by mentioning essential personal and financial details.
- Choose a loan amount between ₹5,000 and ₹1,00,000 and a repayment tenure of up to 365 days.
- Submit the required documents with your application.
- Get immediate approval and a loan offer.
- Review and accept the loan terms.
- The loan amount will be directly transferred to your bank account within minutes.
- Make payments directly through the app using Speedo’s secure payment gateway.
Speedo Loan Customer Care Details
Below are the Speedo Loan customer care details:
- Expert Customer Support Number: 18003092760 (10:30 AM to 6:30 PM IST)
- Email ID: info@speedoloan.com/ care@speedoloan.com
FAQs
The interest rate for a Speedoloan is up to 1% per day.
Once your loan application is approved, Speedo Loan typically deposits funds into your account within one business day.
The maximum loan amount offered by Speedo Loan up to ₹1 Lakh.
Yes, SpeedoLoan is a digital lending platform powered by Agrim Fincap Private Limited, registered as an NBFC with the Reserve Bank of India (RBI).
Yes, Speedo Loan is good for emergency cash needs.
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.).
Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.