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How Speed Finance Personal Loan App Can Change Your Life ?
Use Speed Finance anytime anywhere to fulfil your needs ! Whether it's for wedding expenses, education fees, medical emergencies, a vacation, or a little indulgence; we’ve got your back.
About Us
Speed Finance brand is 100% owned by EarnWealth Solutions Pvt Ltd.
Incorporated
in 2014, we are a leading Distributor of financial products in India. We are an online platform that
provides customers with financial products and services such as personal loans, unsecured loans,
installment loans and credit cards. We connect borrowers with lenders to help them get the best deal
possible. We also provide value-added services to our customers such as big-data analytics, credit
risk assessment and verification, and automated work-flows for loan origination and management. We
have partnered with RBI Approved Banks & NBFCs to distribute various types of loans. We are not a
NBFC, we do not do any co-lending / FLDG based lending ourselves. We don’t do any sort of
collections / recovery of loans we distribute.
Our endeavour is to democratise financial products & make it easily accessible to every Indian. We
are a 100% Indian company & we do not have any branches outside India. We have designed various paid
services that our customer can choose. It helps our customers to understand about their credit
worthiness, credit history & ways to improve their Credit Score so that they remain credit healthy.
Interest rates range from 10.50% - 30% with equivalent monthly interest rate of 0.88% - 2.50% only. A small processing fee is charged for loans e.g. for low risk customers 0% - 3% of the principal, for very high-risk customers 2.5% - 7%*. *The charges and repayment tenures vary based on creditworthiness and repayment ability of the customers. Penalty is charged only when someone delays their scheduled payment.
Loans range from ₹20,000 to ₹30,00,000
Tenure: 90+ days to 96 months. Interest rates range from 10.50% - 30% per annum
depending on the product availed.
Personal Loan For Salaried example:
- Loan amount: Rs. 50,000
- Tenure: 12 months
- Interest Rate: 20% per annum
- Processing Fee: Rs. 1,250 (2.5%)
- New customer onboarding Fee: Rs. 200
- GST on Processing and Onboarding Fees: Rs. 261
- Total Interest: Rs. 5,581
- EMI: Rs. 4,632
- APR: 23.2%
- Loan amount is Rs. 50,000. Disbursed amount is Rs. 48,289. Total loan repayment amount is Rs. 55,581