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RedCarpet Instant Loan App

RedCarpet Instant Loan App for Students & Salaried Person

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RedCarpet App Instant Loan: – Have you ever felt that at some point in your life when you needed financial help, but due to not getting financial help on time, you lost your opportunity. It often happens in life with people that due to non-availability of money, they lose a good opportunity from their hands. (हिन्दी में पढने के लिए यहाँ क्लिक करे।)

In today’s era, most people will be found who are not financially strong. That is, they are not able to handle themselves independently in case of any emergency financial crisis. Self-earning people can manage their expenses and get loans from financial institutions as per the need of the times.

But when it comes to financial management, students fail in this subject because traditionally, the financial institutions and banks that provide loans cannot provide personal loan facilities for them. In this era of Digital India, such instant loan providing platforms have come, providing instant loans to the students. The name of the RedCarpet App is also taken prominently in these loan applications.

Today, through this post, I will provide you with detailed information about the RedCarpet App that provides instant loans. Like how does the RedCarpet App work? What is the maximum loan limit? How to get an instant loan from RedCarpet App? What if you don’t pay on time? Does the RedCarpet App affect your credit score? Is this application uploaded from the Reserve Bank of India? For how long does RedCarpet App provide a loan? If you are a student and want to get an instant loan, read this post until the end.

What do students do when they need money urgently?

If someone asks you who should the students go to when they are in urgent need of money? The answer to most of you would be that the student should go to their parents and seek help. In comparison, some people would say that after discussing this matter with your friends and colleagues, you should get help from them. Whereas the truth is that their requirement is not met at the time of urgent need of money, and they get frustrated.

The times are changing rapidly. Now no student or a self-reliant person needs to lose the opportunity at hand due to the non-availability of funds. RedCarpet has come up as a solution to your immediate money problems. You can avail of the personal loan facility with an extended credit line through any ATM cum Debit card.

RedCarpet Instant Loan App

RedCarpet is an app-based loan-providing platform. It is a Next PD’s fitness company, which provides an instant personal loan in the form of a line of credit. The algorithm has been developed by the company using over 100 different factors to analyze the user’s credit score. Based on the user’s credit score, this application allows borrowers to use current for online purchases.

Using the RedCarpet App, the borrower can avail instant credit based on their credit score for purchasing various products from the online market, paying pending bills, buying tickets for travel, and fulfilling other entertainment purposes.

This loan application also follows the standardized credit score model like other applications available in the market. It also assesses the creditworthiness of individuals who do not have a credit history in the past. After successful evaluation, a specific amount is provided to the borrower to make the purchase.

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Key Features of RedCarpet Instant Loan App

The RedCarpet application offers its customers some unique features apart from the exceptional cricket evaluation model of determining the borrower’s eligibility, which is as follows. 

Quick and Easy RedCarpet Credit

The RedCarpet application provides a personal loan to the borrower in the form of a line of credit instead of providing a lump sum amount as an upfront payment. When the applicant applies through the Red Carpet Application, the company provides him with a Platinum MasterCard, which is fully enabled for online shopping, transactions/ATMs, and other activities.

Exclusive Ruby Card

The company offers the Exclusive Ruby Card to the applicant when taking a loan from the RedCarpet Application. It works like a debit card in which the funds are disbursed to the user against the sanctioned loan amount.

Any Time Money

If a person is in urgent need of money, he can visit his nearest bank ATM and withdraw cash within his credit limit using the Ruby card given by RedCarpet company at the time of loan approval. This card can be used at any bank’s ATM. There is no extra charge if you withdraw up to ₹ 1000 using this debit card.

Expense Tracker

Red Carpet Company provides an inbuilt Expense Tracker in Red Carpet Application with the help of which user can quickly analyze his expenses and view detailed card statements anytime from anywhere and can analyze and curb his expenses.

RedCarpet Personal Loan Eligibility

The algorithm has been designed by the RedCarpet application, keeping in mind more than 100 points. The applicant’s credit score is analyzed while providing the personal loan, and based on that personal loan facility is provided to the applicant. To avail of a personal loan through the Red Carpet Instant Loan App, it is necessary to fulfill certain primary eligibility conditions, which are as follows.

  • The applicant’s age should be more than 18 years.
  • Applicants should be studying in a recognized university.
  • For a student studying in the final year of any course, it is necessary to apply before six months from the end of the course.

Red Carpet Company Services Personal Loan to College Students in almost all major cities of India Delhi, Jaipur, Hyderabad, Pune, Chennai, Kolkata, Vijayawada, Dehradun, Mumbai, Jalandhar, Chandigarh, Bangalore, Bhopal, Ahmedabad, Noida, and other important cities.

If you want to read about the Top 5 Best Instant Loan Apps for Students offering Instant Loan in India, then definitely read my article “Top 5 Best Instant Loan Apps for Students in India in 2021“.

RedCarpet Interest Rates and Fees

The RedCarpet Instant Loan application provides instant personal loans at very low-interest rates. This company charges interest only on the spent portion of the loan amount provided by the company. The details of the interest rate and fees charged by the company are given in the table below.

S.No.Key DetailsDescription
1Rate Of Interest2% to 3% p.m. for EMI tenure
2Processing FeeFor Term Loan – 2% p.m., which is minimum ₹100 + Taxes (GST)For Debit Card – ₹750 + Taxes (GST)
3Cash/Check Collection₹200 + Taxes (GST)
4Overdue Recovery Fee2% p.m., which is at least ₹500 + Taxes (GST)
5Reload Fee2% p.m., which is a minimum ₹100 + Tax (GST)
6Late Payment Fee₹200 + Taxes (GST)
7Over Limit Fee2% of the outstanding amount
8Repayment PeriodMinimum 3 months to maximum 36 months

RedCarpet Instant Loan App Process 

If a college student urgently needs money, they can apply for a personal line of credit or a personal line of credit within a few hours without any guarantees through the RedCarpet Instant Loan App. This entire process can be completed in just a few easy steps. Follow the steps given below to get a loan from RedCarpet Instant Loan App.

  • First of all, open Google Play Store on your mobile phone.
  • RedCarpet Instant Loan App in the search box and click on the search icon.
  • Select the RedCarpet Instant Loan App that appears at the top of the search results.
  • Install and open this application on your mobile phone.
  • Once the Red Carpet App opens, select the language of your choice and enter your mobile number.
  • Fill in the information asked during the verification process like name, location, college, and other information correctly.
  • Upload your identity card, college ID, address proof, and other documents.
  • Accept the various Terms and Conditions of Service (Statement of Terms and Conditions).
  • Once the verification process is completed, you will get an initial credit limit of ₹500.
  • Enter the amount you can borrow as a personal loan, which can be up to a maximum of ₹50000.
  • Can apply for the card with ₹750 + Taxes (GST). For this, select the option of “Apply for Card.”
  • You will receive a notification via SMS immediately after the card is approved.

RedCarpet Personal Loan Repayment System

The interest rate and repayment amount calculation adopted by the red carpet is relatively easy to understand. The red carpet personal loan repayment system can be easily understood with the example given below.

Example: If a person receives an amount of ₹ 10000 as a personal loan credit line from the red carpet and the loan’s repayment period is fixed at six months from the disbursement date, and the applicable rate of interest is 2% per month.

  •  Fixed Application Fee = ₹ 499 + 89.80 (GST @ 18%) = ₹ 588/-
  •  Interest earned at 2% for 6 months = ₹ 1200/-
  •  Total cost to be paid = ₹ 10,000 + 588 + 1200 = ₹ 11,788/-
  •  EMI for Repayment Tenure = ₹ 1965/-

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RedCarpet Customer Care Number

In this article, detailed information about RedCarpet Instant Loan App has been provided. Nevertheless, suppose any person can get a loan from the RedCarpet App or needs more information. In that case, he can solve his problem/complaint by contacting RedCarpet Customer Care Number, and the address is given below. The customer care number and email ID of the RedCarpet App are as follows.

RedCarpet Customer Care Number

  •  Phone No:- 011-71156232
  •  Email : help@redcarpet.cash or support@redcarpet.com

 RedCarpet Instant Loan App Related FAQs

 Q.1-Is it safe to use RedCarpet Instant Loan Application?

Ans: Red carpet company takes some permissions from you while installing the application, with the help of which they analyze your credibility by accessing the smartphone or tablet. Red Carpet require cell phones specific authorizations from you, which are server audited for PCI and CISA data privacy and security compliant.
Contacts– To share various information.
Location – Nearest Red Carpet KYC completed to inform agents
SMS – To enable UPI to track up to the information of various types of expenses.
Email – For cross-validation.
Media & Documents – To upload photographs of documents at the time of loan application.

Q.2- Why is the RedCarpet Instant Loan App Ruby Card special?

Ans: The Ruby Card issued by Red Carpet is a virtual ATM-to-debit card that can be used to make online purchases on your smartphone.

Q.3– What if the phone on which the Red Carpet Loan app was installed is lost?

Ans: If your mobile phone is stolen or lost, you can contact the Red Carpet Customer Representative from any other mobile number and request to change your contact details.

Q.4– How can a person close their RedCarpet account?

Ans: If you have got the approval of a personal loan from the red carpet and now want to close it, you can uninstall the application to stop the service, but keep in mind that your loan payment amount should not be pending uninstalling. If you want to reactivate your account, reinstall the app and log in to the existing account.

Q.5– Will a person have to pay extra charges if they do not use the Ruby card?

Ans – No, if a person is not using RedCarpet’s Ruby Card, no additional charges are levied. You can keep this card with you for free as long as your loan account is maintained with the red carpet.

Read Also:- How to Apply for HDFC Bank Business Loan?

I am student and part time blogger. I am interest to share my views on financial issues.


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