Xpress Loan
Xpress Loan app offers instant, hassle-free personal loans of up to ₹1 Lakh online for salaried individuals. The borrowed amount can be easily repaid in a flexible tenure of up to 36 months at an attractive interest rate starting from 9.9% p.a. The entire application-to-disbursal process is digital, requiring no physical documentation.
Xpress Personal Loan Details
The key details of the Xpress personal loan are as follows:
| Feature | Details |
|---|---|
| Loan Amount | ₹5,000 – ₹1 Lakh |
| Tenure | Up to 36 months |
| Interest Rate | 9.9% p.a. onwards |
| Processing Fee | Up to 10% of the loan amount |
Features & Benefits of Xpress Loan
Here are the key features and benefits of Xpress Loan:
- You can apply for an instant loan to meet financial obligations, a small loan for home renovation, a loan for a medical emergency, a loan for an immediate purchase/shopping, a personal loan for debt consolidation, or a short-term loan.
- Loan amount ranges from ₹5,000 to ₹1 Lakh.
- Repayment tenure is up to 36 months (61 to 180 days for specific products).
- 100% digital process requiring zero physical documentation.
- Zero charges for early repayment.
- Strict policy against cash transactions for safety.
Xpress Loan Interest Rates & Charges
Below are the interest rates and charges associated with acquiring an Xpress loan:
- Interest rate: 9.9% p.a. onwards.
- Processing fee: Up to 10% of the loan amount.
- Pre-closure & prepayment charges: Nil.
- Annual Percentage Rate (APR): 180% - 365%.
- Cheque bounce charges: ₹1,000.
Compare Xpress Loan App with Other Loan Apps
Below is a comparison of the Xpress Loan app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| Xpress Loan | 9.90% p.a. onwards | ₹5,000 - ₹1 Lakh | Up to 36 months |
| LoanPey | 2% - 2.72% per month | ₹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% - 28.5% p.a. | ₹6,000 - ₹10 Lakh | 6 to 60 Months |
| TrustPaisa | 18.25% p.a. onwards | ₹2,500 to ₹45,000 | 3 to 6 Months |
| RING | 3.8% p.m. onwards | ₹5,000 - ₹5 Lakh | 3 to 36 Months |
| Upwards | 16.00% – 36.00% p.a. | ₹25,000 – ₹5 Lakh | 6 to 36 Months |
| FLot Loan | 2% p.m. onwards | ₹1,000 – ₹99,000 | 3 to 12 Months |
| Jupiter Money | 1.33% p.m. onwards | Up to ₹5 Lakh | 3 to 24 Months |
| Airtel Finance | 12.75% p.a. onwards | ₹10,000 – ₹9 Lakh | 3 to 60 Months |
Eligibility Criteria for Xpress Loan
- Nationality: Indian resident.
- Profession: Salaried employees with a regular income source.
- Current serving locations: Delhi NCR, Mumbai, Pune, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, Jaipur, and Indore.
Documents Required for Xpress Loan
Here is the list of documents required for the Xpress loan application:
- Photo identity proof: PAN Card
- Aadhaar Card
- Latest salary slip
- Permanent address proof: Passport/ Driving Licence/ Voter's Identity Card/ Utility Bills that are not more than 2 months old.
- If the current address differs from your permanent address, then, additionally, a utility bill (electricity bill/ landline phone bill/ gas bill) of the current address not older than 2 months and a Leave and Licence Agreement/ Rent Agreement will be required.
- The latest Bank Account Statement showing your salary credit.
Steps to Apply for Xpress Loan Online
Below are the steps to apply for an Xpress loan online:
- Application: Visit Xpress Loan’s official website and click on the ‘Apply Loan’ tab to fill out an easy online application form by providing basic information about yourself and your financial needs.
- Approval & Documentation: Once your request is approved, you will receive clear instructions on the required documentation, including income verification.
- Funding: Once your loan application is reviewed and approved, and your documentation is verified and finalised, the lender will initiate the funding process.
Xpress Loan Customer Care Details
For any queries regarding your Xpress loan, you can contact their support team via the following channels:
- Phone:1800-889-0625
- Email:grievance@xpressloan.in
FAQs
Yes, Xpress Loan is registered as Comero Leasing and Financials Private Limited as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI).
Xpress Loan is available to salaried individuals only. If a student has a regular income source, they can also apply for the loan.
The interest rate of Xpress Loan starts from 9.9% p.a. onwards.
It is possible to get an Xpress Loan without a CIBIL score if you are new to credit.
Xpress Loan approval takes a few hours to approve a request if everything is in line with the lender’s policy.
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.