Sahukar is a digital lending platform that gives personal pocket money loans to students to help them meet their financial needs such as education and living expenses during their college life.
We understand that during student life, there is often a cash crunch for small ticket expenses such as tuition, fees, gifting on birthdays or other occasions, extra classes, treating friends – there could be many reasons. We step in to help students so that they need not ask their friends or relatives. We are aware that this can often be embarrassing for students.
On Sahukar, the profile of the students is carefully assessed before a credit limit is assigned to them. Such a credit limit is dynamic or revolving in nature and also closely depends on the repayment history of a borrower.
The credit limit and hence, the loan taken can be anywhere from ₹ 500 to ₹ 5,000. The student can choose to take the loan in either his Paytm Wallet or his bank account. There is absolutely no need to wait for next month’s pocket money.
The udhaar loan pocket money can be easily repaid in a minimum of 61 days and a maximum of 91 days!
The interest rate is only 3% per month. This means that the maximum interest rate per annum (APR) is 36% only. Sample detailed loan calculation is as follows:
Total Disbursed Amount : 500
Principal Amount Loan Amount: 566.89
Interest Rate (per month): 3%
GST on Processing Fee: 18%
Tenure: 61 days
Interest Amount: 34.01
Total Repayment Amount: 601
Students are to note here that Sahukar is backed by an RBI registered legal NBFC as its partner.
We request all borrowers to read sample loan agreements and loan calculations before placing a request for a loan.
Come take an Udhaar loan pocket money from us, fulfill your needs and be financially independent and responsible!
In Sahukar - Instant Loan 5.0.8Updated the release version number and date