SmartCoin is an app-based lending platform that offers middle- and lower-income people short-term personal loans. SmartCoin has its own algorithm for assessing lending risk, making it easier to qualify for a fast personal loan. The best aspect about SmartCoin is that the application procedure is completely online, and once you’ve been approved for a loan, the funds are deposited immediately to your bank account.
Features and Benefits
- SmartCoin Collateral Free Loan: When you apply for an instant loan at SmartCoin, you do not need to present any collateral to secure the loan. As a result, you can acquire a loan without having to worry about securing collateral.
- Quick Repeat Loans: Once you’ve submitted your documents with SmartCoin, you won’t have to do it again. Simply put, it paves the door for you to obtain repeat loans with ease in the future.
- Easy Processing: SmartCoin’s software makes it simple to process instant personal loan applications and only takes a few documents. The ideal combination of online application and minimum documents alleviates the ultimate borrower’s discomfort.
- Direct Bank Transfer: After receiving SmartCoin approval, the loan amount is sent into your account within minutes.
| Lenders Name | SmartCoin |
| Interest Rate | 20% – 36% APR |
| Processing Fee | NA |
| Loan Amount | Rs 1,000 to Rs 25,000 |
| Loan Tenure | 91 – 120 days |
Criteria for Getting a SmartCoin Personal Loan
- An applicant’s minimum age should be 23 years old.
- The applicant must be a citizen of India.
- A salaried individual, a business owner, or a support executive should apply.
- The applicant’s monthly income should be greater than Rs 15,000 per month.
- SmartCoin Personal Loan Documents Required
- Bank Statement with PAN Card Address Proof
- Selfie
Calculation of SmartCoin EMI
SmartCoin provides low- and middle-income people with short-term credit. However, before applying for an immediate personal loan, you should use the SmartCoin EMI calculator to learn more about the monthly installments and the total amount.
The EMI calculator is a free tool that is extremely simple to use. All you have to do is enter the loan amount, interest rate, and selected payback period.
If you accept a personal loan of Rs 25,000 from SmartCoin for 4 months at a 20% p.a. interest rate, the EMI calculator will produce the result given in the table below.
| Loan amount | Rs 25,000 | ||||||
| Interest Rate | 20% P.A. | ||||||
| Tenure | 4 months | ||||||
|
Month |
PRINCIPAL (A) | INTEREST (B) | TOTAL (A +B) | BALANCE | LOAN PAID | ||
| 1ST | Rs 6,096 | Rs 417 | Rs 6,513 | Rs 18,904 | 24.38% | ||
| 2ND | Rs 6,198 | Rs 315 | Rs 6,513 | Rs 12,707 | 49.17% | ||
| 3RD | Rs 6,301 | Rs 212 | Rs 6,513 | Rs 6,406 | 74.38% | ||
| 4th | Rs 6,406 | Rs 107 | RS 6,513 | Rs 0 | 100.00% | ||
What is the SmartCoin App and How Do I Use It?
- Install the app on your phone or tablet.
- Use your Facebook or Google account to log in to the app.
- Fill out the online loan application form.
- To finish the loan application, upload your papers.
- Once you’ve received permission, monies will be deposited into your account.
Customer Service at SmartCoin
You do not need to call the SmartCoin loan helpline number if you are having trouble comprehending the best loan offers, loan application process, or any other problem. Actually, by sending an email to contact@smartcoin.co.in, you can get a solution to your problem.
Alternatively, you can send an email to Help@smartcoin.co.in if you require any support with your repayments.
FAQs
- Question: How much may I borrow from SmartCoin for the first time?
Answer: SmartCoin offers a quick personal loan starting at Rs 1,000 that may be utilized to cover any emergency bills.
- Question: Does SmartCoin run a credit check before approving a personal loan?
Answer: When a borrower asks for a personal loan, SmartCoin uses its risk assessment algorithm to determine the borrower’s credibility. However, if you have a strong credit score, you will have an easier time getting a personal loan.
- Question: What does SmartCoin represent when it comes to the bare minimum of documentation?
Answer: Traditional lenders need you to provide a large number of documents when applying for a personal loan, whereas SmartCoin only requires you to upload your PAN card, bank statement, address proof, and a selfie.
- Question: What types of expenses may a SmartCoin personal loan be used to cover?
Answer: Personal loans from SmartCoin can be utilized for a variety of purposes, including utility payments, travel, early salary, credit card refinancing, and more.
- Question: Is SmartCoin a fully digital currency?
Answer: Yes, the SmartCoin loan application process is entirely digital, and you won’t have to go anywhere to submit your paperwork. There is no human interference from loan application to disbursement.
- Question: What is the minimum income requirement for a SmartCoin personal loan?
Answer: SmartCoin offers personal loans to anyone with a monthly salary of Rs 15,000 or more. However, keep in mind that SmartCoin only offers short-term personal loans; if you need a larger loan, you’ll need to use another fast personal loan app.
- Question: What is the phone number for the SmartCoin loan helpline?
Answer: You haven’t been given a phone number, but you can get your questions answered by sending an email to the above-said email address.
Conclusion:
To sum up, SmartCoin is one of the best personal loan app in India 2021. You can avail SmartCoin personal loan 2021 with Afinoz in no time at an amazing deal.
