Realme has launched their Realme Buds Air and Realme X2 on 17th December. They also announced that they will launch their own Realme Qi Wireless Charger which is an interesting announcement for the users. Apart from the products, they have launched their Realme Paysa App. Currently, Realme Paisa is available in Google Play Store and you can just download it. Visit realme Paisa Website to apply for a loan. (Click here) However, we have a complete explanation article here to let you know the services of realme Paisa.
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Realme Paysa Features:
The Realme Paysa App is an all-in-one app for different purposes. It is a full-stack Financial services app which will definitely help normal users and businessman in taking loans in few minutes. So, the Realme Paysa offers Business loans, Screen Protection Insurance, Free Credit Report and Personal Loans. For all this, there are different criteria so we will explain to you all the criteria for different purposes. So, the Realme Paysa launched for all devices but the screen protection insurance is only for those who have Realme Phones (Old&New). Users can do 2 claims per year if they have taken the higher insurance.
Realme has partnered with the Credit Mantri for free first 3 Credit report and the loans will be given from the Pune Leading startup which is Early Salary. As we know Early Salary has also partnered with Xiaomi for the Mi Credit App. So, it will be interesting and advantage for the users as they can take loans from the app who is offering better tenure and interest rates. The loan range of the Realme Paysa App is from Rs. 8,000 to 1,00,000.
Criteria of the Realme Paysa App:
- For taking loans, you should be a citizen of India
- Users who are taking loan must be 18 years old or more
- Minimum salary for different cities: Rs. 18,000 for Bangalore, Chennai, Delhi NCR, Hyderabad & Secunderabad, Kolkata, Mumbai, Pune, and Rs. 15,000 for other cities
Criteria for loan and insurance:
The Screen Protection is only for the Realme users either they have a new/old device. So, there is two policy:
- 12 Month Plan- 2 Claims/yr- Rs. 1000
- 6 Month Plan- 1 Claim/yr- Rs. 500
So, the users have two choices they can take 12 Month policy by paying Rs. 1000 otherwise they can take 6 Month Plan Policy by paying Rs. 500. In the 12 Month Policy, users can claim 2 times in this policy whereas they can claim only 1 time in the 6 Month Policy. This offering bu the Realme is much good as we all know it will cost more than Rs. 1000 for screen replacement. So, the Realme users are getting their best offerings from the Realme Paysa App.
Free Credit Report:
Users can generate 3 Credit Report for free. You will also get suggestions if your credit report is not good. This free service is being provided by the CreditMantri. After the free 3 credit report, you will have to pay some charges for every credit report if you have used the 3 free credit report.
Personal & Business Loans and Interest Rate:
You can get Personal loans, if you are above 18yr. You have to give some documents and your amount will be transferred to your bank account. The loan will be only availed according to your salary and the interest rate will be only applicable on amount you used. So, if you take 1 lakh of loan and used Rs. 80,000 then you will have to pay the interest rate for the used amount. The Loan can be used anywhere. You will be able to select your tenure and you can also select the appropriate rate for yourself.
There is a business loan for those users who are running the business. Users will have to select how much old is their business and how much revenue they are making in the year. The businessman can avail a loan of Rs. 50,000 to 20 Lakhs depending on their business and revenue. They can repay the loan under 5 year or the tenure they can repay the amount. Business loans are being provided by the LendingKart.
When we talk for security, Realme has said that they are appointing a new IT Industry for the security of the app and user’s data.
Only 5 documents are required for taking loans which are as follows:
- Address ID Proof
- Aadhar Card
- Bank Statement for confirming your salary
- PAN Card
Realme Paysa App Download:
You can download the Realme Paysa from the given link and take loans after completing your documentation: