Developer: Wortgage finance private limited
Category: Finance
**This app is only accessible to Customers registered through WeRize partners** At WeRize, we are building India’s first socially distributed full stack financial services platform for 300Mn lower middle income customers that live across 4000+ small towns. This $200bn and growing annual market expects a very different product set as well as distribution model which traditional private banks, insurers and mutual fund companies are unable to provide. The economics of these products for traditional companies is unfeasible due to their high cost branch based distribution model. Our customers require high touch sales and after sales service which can only be provided by a distributed model. We have built a unique social distribution “Finance ki Dukaan” tech platform using which 1000s of financially literate freelancers sell our products to their friends and families. Our distribution so far has allowed us to collect over 1bn data points across 500k customers in 1000+ cities. Using these data points, we have manufactured customised credit, group insurance and savings products that fulfil the unique needs of our highly underserved customer segment. Regulatory Information Wortgage finance private limited holds RBI NBFC license (N-02.00325) which enables us to conduct lending activities in India. Wortgage finance pvt Ltd and wortgage technologies pvt Ltd (group company of Wortgage Finance Pvt Ltd) works with the below NBFC lending partners: 1. Northern Arc Capital Ltd 2. Vivriti Capital Limited 3. MAS Financial Services LTD. 4. Incred Financial Services Limited 5. HDB FINANCIAL SERVICES LTD *Group insurance is available as a benefit only to the registered customers Personal loan highlights We provide large ticket long tenure unsecured loans Loan Amount: From ₹30,000 to ₹5,00,000 Repayment Duration: From 12 months to 3 years Annual Interest Rate: From 15% - 36%* Processing Fees: From 2% - 3%* We maintain complete transparency, there are no hidden charges. *These numbers are for representation only and the final interest rate or processing fee may vary from one borrower to another depending on his/her credit assessment. Representative Example Loan Amount: Rs 1,00,000 Tenure: 36 Months Interest Rate: 22% (on Reducing Principal Balance interest calculation) EMI Amount: Rs 3,819 Total Interest Payable: Rs 3,819 x 36 months - Rs 1,00,000 Principal = Rs 37,486 Processing Fees + Documentation Charges (incl. GST): Rs 3,894 Disbursed Amount: Rs 1,00,000 - Rs 3,894 = Rs 96,106 Total Amount Payable: Rs 3,819 x 36 months = Rs 1,37,486 Documents Required for taking loans: - PAN Card - Aadhaar Card - Bank Statement - Latest Salary Slip If you’ve any suggestions or feedback regarding our android app, please feel free to write to us at [email protected] and we will look into it. We value your opinion, thank you.
