In this post, we are going to review the RupeeRedee Loan App, a digital lending platform in India.
We will explore its features, and how it works, and identify key concerns to help you decide whether RupeeRedee is the right option for you.
What is RupeeRedee?
RupeeRedee is an online platform that provides instant personal loans to customers through a completely digital process.
The app aims to help users cover unexpected expenses with fast disbursal of loan amounts, offering convenience and quick access to funds.
It is owned by MoneyMitra It Solutions Private Limited.
RupeeRedee offers loans ranging from ₹2,000 to ₹149,000, with interest rates between 12% and 36% per annum, and a processing fee of 10% to 15% of the loan amount. Applicants need a minimum household income of ₹25,000 and must be Indian citizens between 18 to 65 years old.
The app works with RBI-approved NBFCs like FincFriends Private Limited, ensuring some level of legitimacy and regulatory oversight. The entire loan application process takes about 10 minutes and is fully online.
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Website Profile
| Website | Rupeeredee.com |
| Name | Rupee Redee |
| Domain Registration Date | June 15, 2017 |
| Service | Instant Loan |
| [email protected] [email protected] | |
| Contact | 0124-4699111 0124-6914100 |
| Address | 7th Floor, Vatika Triangle, Mehrauli-Gurgaon Road, Block B, Sushant Lok Phase I, Gurugram, Haryana – 122002 |
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RupeeRedee Review
RupeeRedee is widely used, with over 10 million downloads from the Google Play Store and a 3.7 rating from 191K reviews. Its appeal lies in the fast disbursal of loans, convenient online process, and the ability to cover various financial needs like shopping, school fees, or bill payments.
However, many users have raised concerns about high interest rates, high administrative fees, and short repayment tenures. While the app provides a fast service, these fees can significantly impact borrowers, especially those already struggling financially.
Here are some of the red flags of this platform:
- High interest rates: Up to 40% for some users.
- Short repayment periods: Sometimes as little as 7 days.
- Harassment: Frequent calls, messages, and emails for repayment.
- Poor customer service: Issues with reaching support for assistance.
RupeeRedee can be a good option for short-term loans, but the high fees and aggressive repayment tactics are serious concerns. While the platform is legitimate, borrowers should carefully assess the terms before applying to avoid potential financial strain.
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