Snapit Loan App: Snapit Loan is an app that claims to offer instant personal loans to Indian users. It provides loans ranging from Rs 1,000 to Rs 10,000 with low interest rates and flexible repayment terms.
You can meet your financial needs through instant personal loans. Here, we will tell you about the advantages, disadvantages, and charges of the Snapit Loan App.
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Snapit Loan App Details
| Article Topic | Snapit Loan App Review |
| Interest Rate | Up to 30% per annum. |
| Loan Amount | Rs 1,000 to Rs 10,000 |
| Tenure | Up to 120 days |
What is the Snapit App?
Snapit is a loan app that claims to offer instant personal loans to Indian users. It provides loans ranging from Rs 1,000 to Rs 10,000 with low interest rates and flexible repayment terms.
The app requires users to provide their Aadhaar card, PAN card, bank account details, and selfie for verification.
Snapit loan app is one of the apps that offers personal loans to many users, but there are some complaints filed against this app, so you should use this loan app as per your understanding. RBI Guidelines for Lenders
Advantages and Disadvantages of the Snapit Loan App
The advantages and disadvantages of this app are given below:
Advantages
Online Process: The entire process of applying for a loan on the Snapit app is 100% online or paperless. The customer does not need to submit any documents offline.
Minimum Documents: You do not need many documents to get a loan here. You can take a loan amount here with the help of your Aadhar card, PAN card and other documents.
Loan Amount: The Snapit app provides personal loans ranging from Rs 1000 to Rs 10000 to its customers, which the customer can use at his convenience, such as credit card bill payments, house rent, medical expenses etc.
Tenure: Due to the low loan amount, you get up to 120 days to repay the loan amount, so you become tension-free by repaying your loan in a few months.
Disadvantages
App Updates: The biggest disadvantage of this loan application is that the company does not update this app quickly, so the user loses trust in this loan application.
Customer Support: The app does not respond to users’ queries and complaints and does not have a proper customer support system.
Payment Updates: According to some customers, the app does not update their payments on time and they are harassed with repeated calls. Even after making the payment, they face repeated reminder calls and notifications.
Eligibility Criteria for Snapit Loan App
Through the Snapit Loan app, you are provided a personal loan of up to Rs 10,000. To take this loan, you have to fulfil some Eligibility Criteria, after which you can apply for this loan.
- You must have Indian citizenship.
- Borrowers must be between 18 to 60 years of age.
- There should be a source of income every month.
Documents Required for Snapit App
To apply for a loan from Snapit App, you need to provide the following documents and information:
- PAN Card
- Aadhar should be linked with the registered mobile number.
- Identity Proof: Any one of the documents – Passport, PAN Card, Ration Card, Aadhar Card, Voter ID Card, Driving Licence.
- Address Proof: Any one of the documents – Passport, Aadhar Card, Voter ID Card.
How to Apply for a Loan on the Snapit App?
To apply for a loan on the Snapit app, you need to follow these steps:
- Install the Snapit Loan application.
- Log in to the app using your mobile number.
- Fill in the information asked by the app correctly.
- Select the loan amount and tenure shown and click on the Proceed button.
- Enter the documents and information required in the application and complete the KYC procedure through an Aadhar Card.
- After approval, the loan amount will be credited to the account number entered by you.
Snapit Loan App Customer Care Number
If you require an instant personal loan and are facing any problems getting the loan, then you can call the customer care number of the Snapit App.
For assistance, you can also send a mail to the official email id of the app.
Customer Care Number: 7993410406
Email ID: SnapitSnap12@gmail.com
FAQs Related to the Snapit Loan App
How much interest rate does Snapit charge?
The interest rate charged by Snapit App depends on the loan amount and tenure. The annual interest rate ranges from 20% to 35%. This means that if you borrow Rs 1,000 for 91 days, you will have to pay interest of Rs 51. If you borrow Rs 10,000 for 120 days, you will have to pay interest of Rs 958.
How much money can I borrow through the Snapit Loan App?
Snapit Loan App is an app that claims to provide instant personal loans for Indian users. It offers loans from Rs 1,000 up to Rs 10,000 with low interest rates and flexible repayment terms.
What documents are required for the Snapit App?
To apply for a loan from the Snapit app, you need essential documents like PAN, Aadhar card, monthly income proof, etc. To complete the KYC process, you must link your mobile number with your Aadhar card. You must have a savings account to avail the loan amount.
