OneTap Loan app for iPhone and iPad

OneTap Loan a brand owned by Dhanadeepa Consultant Private Ltd, CIN U74999DL2021PTC389855 PAN AAICD8933C is a digital lending aggregator platform that works in partnership with m/s capital trade links limited, a non-Banking Financial corporation registered with the Reserve Bank of India having its registered office at B-4, LGF Ashoka Niketan, East Delhi, Delhi-110092 having its CIN L51909DL1984PLC019622, PAN AAACC0222H Lenders website: www.capitaltrade.in

"On-boarding Process" means the entire journey of a User on the OneTap mobile application, starting immediately from downloading the application One Tap, by the User till the time the entire credit/debt has been repaid in full to the lender, including but not limited to the Registration & Authentication process of the T&Cs
"Registration" refers to clauses laid out / covered under Section 2 of the T&Cs.
"Authentication Process" shall collectively refer to the clauses laid out / covered under Section 3 of the T&Cs
"User Eligibility Criteria" Shall collectively refer to the clauses covered under the "User Eligibility" Section of the T&Cs
"Repayment" refers to the clauses and criteria under the section
INTEREST & FEES
Interest Rate - 18% to 36% Per Annum
Tenure - 06 months
One-Time Processing and Platform Fees - Applicable and deducted from the loan disbursement to the user
Late Fees - Penal Interest of 36% per annum would be charged on a daily basis for the default period
Bounce NACH / Auto Debit Mandate Fee - INR 500 + GST Applicable in case of default / non-Repayment of dues by the User

"Charges" refers to the clauses and criteria under Section "Interest and Fees" in the T&Cs
Interest Rate collectively refers to the figures under the section
"Privacy Policy" refers to link https://onetaploan.com/privacy-policy-2/
INTEREST & FEES
Loan Amount – A User can avail of a Loan amount ranging b/w INR 5000 up-till INR 5,00,000

Interest Rate - Ranges between 18% to 36% Per Annum
Illustration: If a user takes a loan of ₹5,000 for 06 months, the applicable interest rate would be 36% per annum on a Reducing Principal basis and the customer will have to pay EMIs for 6 months of ₹923 per month for 06 months. The total payment made by the customer during 06 months will be ₹5,538/- including principal and Interest

Tenure – Customers can select any one repayment period from the available list mentioned below
03 months
06 months
09 months
12 months

Upfront Charges / Deductions: All sanctioned loans are subject to certain upfront deductions, as stated below:
Processing Fees – A total of 5% + applicable taxes shall be deducted from the sanctioned loan amount. This has been sub-divided further into 3 categories, as defined below:
Processing Fees (PF) - A processing fee of 0.50% + applicable taxes.
Credit Assessment Charges (CAC) – A Credit Assessment Charge of 2.5% of the loan amount + applicable taxes.
Documentation Charges (DC) – Documentation Charges at 2.0% + applicable taxes on the sanctioned loan amount
Platform Fee(s) – This is illustrated below:
Loan Amount / Sanction Amount Platform Fees
INR 5,000 - INR 50,000/- INR 750 + Taxes
INR 50,001 - INR 1,00,000/- INR 1000 + Taxes
INR 1,00,001 - INR 5,00,000/- INR 1500 + Taxes

Annual Percentage Rate (APR) – We offer loans up to INR 5,00,000 with repayment periods of up to 12 months. APR starts from 20.50%, however, rates may vary from case to case
Total Cost of Loan –has been illustrated with an example below, considering a loan sanction of INR 60,000/- for a period of 06 months

Sanctioned Amount: Rs 60000
Tenure: 6 Months
APR: 34.06%
EMI (Payable Monthly): Rs 10893

Processing Fees: Rs 300 (Excl. Taxes)
Credit Assessment Charge: Rs 1500 (Excl. Taxes)
Documentation Charges: Rs 1200 (Excl. Taxes)
Platform Fees: Rs 1000 (Excl. Taxes)
Taxes: Rs 720
Deductions – INR 4,720/-
Amount Disbursed: INR 55,280/- (INR 60000 - 4720)

Amount paid as Interest during the Tenure: Rs 5358
Total Repayment Amount (Principal + Interest): Rs 65,358/-