Daily EMI Loan FAQs
- What documents are required for Daily EMI Loan?
- Pan Number
- Aadhar linked to mobile for online KYC
or
Voter Id / Driving License / Passport
- In how many days can I get the loan?
- In 3-5 working days
- Provided the KYC documents uploaded are valid and subject to complete application and lender approval.
- Where can I check the Loan Status?
- You can check the Loan Status on below path:
Daily EMI Loan tile → Application In Progress
- What is the tenure of the loan?
- The loan tenure is 180 Days (6 months) & 270 days (9 months)
- How many installments do I need to pay?
- 180 Installments for 6 months Tenure
- 270 Installments for 9 months Tenure
- What is the interest Rate for this loan?
- The Interest Rate is 2.5% per month (flat) on the Loan amount
Example- On a ₹ 50,000 loan:
₹1232.87 will be the monthly interest and
₹ 7397.26 will be charged as interest for 6 months.
Daily Installment will include both Principal & Interest amount.
- What is the Processing Fee (PF) of this loan?
- 3% of the Loan amount + 18% GST on PF (6 months)
- 2% of the Loan amount + 18% GST on PF (9 months)
- For Example: ₹ 50,000 Loan Amount for 6 months
|
Loan amount |
₹ 50,000 |
|---|---|
|
Processing Fees (PF) @ 3% |
₹ 1500 |
|
18 % GST of PF amount |
₹ 270 |
|
Total PF deduction |
₹ 1770 |
- Where will the amount be Disbursed/Credited ?
- The amount will be credited in SMA Bank account.
- How will I repay the loan ?
- The daily Installment amount will be debited from your Spice money wallet automatically.
- How much Loan amount will get Credited ?
- Loan amount will be credited after deduction of Processing Fee (PF) + GST
- For Example:
|
Loan amount |
₹ 50,000 |
|---|---|
|
PF + GST |
₹ 1770 |
|
Credit amount |
₹ 48,230 |
- What will be the Daily Installment Amount (EDI) ?
- Daily Installment Amount = (Loan amount + Interest for 6 months) / 180 EDIs
- For Example:
|
Loan amount |
₹ 50,000 |
|---|---|
|
Interest for 6 months |
₹ 7,397.26 |
|
No of Installments |
180 |
|
Daily Installment Amount |
₹ 318.87 |
- How can I pre – close the loan?
- You can raise the request for Pre-closure on below path:
Daily EMI Loan tile → Active Loan → Initiate Pre-closure
- Are there any charges for pre-closure of loan?
- There are no charges for pre-closure
14. How can I get the Loan statement?
- You can check your Loan statement on below path:
Daily EMI Loan tile → Active Loan → Loan Statement
15 – Daily emi loan ka amount TAT complete hone ke bad
bhi disbusd nhi hone par kya karoge ?
. Loan not disbursed ki OUT or TAT mai complaint mark karenge or 5 working days ka TAT share karenge
15. Daily EMI loan ko kitne lender provide karte hai?
Ans.
1. Arthmate.
2. Spice Bulls
3. U_GROW
16. SMA ko loan apply karte time error “You are not eligible in this pin code”
Ans. Priye Adhikari ji, jinka aap loan apply karne ke liye try kar rahe hai unka loan abhi apply nhi ho payega.
17. SMA ko loan apply karte time Assisted ID mang raha hai
Ans. Priye Adhikari ji, appko batana chahenge ki assisted ID main “1008” fill karna hai