Frequently asked questions

Some Promising reasons to choose

  • Loancloud is an Instant Personal Loan Platform for salaryman. Loancloud is driven by a certified NBFC, Rhino Finance Private Limited. The application process is completely online and support 24*7*365. Just three steps no more than 10 minutes. The cash is immediately transferred to the bank account of user. Compare to the 4-7 days to avail a loan from a bank, which also requires a lot of documentation and frequent visits to the branch office, Loancloud will be a good helper to solve your temporary turnaround difficulties.

  • Indian Individual, 21-56 years old, has a monthly source of income

  • Install the Loancloud app from the Play Store.

    Register yourself via your phone number.

    Select the product you want to apply.

    Take 3-5 minutes to fill in your basic information and upload your KYC documents, then submit.

    After submitting your application, we will review it as soon as possible, during which time you may receive a call to verify the information. The results will be reviewed in the fastest 5 minutes, and we will notify you of the results by SMS.

    E-sign loan agreement after the approval.

    E-sign successfully, we will disburse to you within 5 minutes and notify you by SMS.

  • Loancloud is available for all cities in India.

  • A portfolio of products with different maturities and amounts.

  • Based on the basic information you submitted, KYC documents and your historical repayments. Among them, we need your pan card to verify your identity and need your Aadhaar card to prove your address.

  • When we review a loan, we will review it from multiple dimensions. If your loan is not approved, this will not affect your credit. It may just be because your situation does not match our rules and credit model. If you are rejected by the review, we will let you know when you can apply again on the homepage.

  • Please make sure that the file you uploaded is clear and not a remake of the photo.

  • Each user who applies for a personal loan will be required to submit three kinds of document:

    a. Proof of Identity: We collect your PAN details as a Photo ID and Proof of Identity and is mandatory;

    b. Proof of Address: You may provide us with a copy of your printed e-Aadhaar(masked) or Passport or Voter ID.

    Each user must mandatorily submit the Proof of Identity along with one of the documents mentioned above as Address Proof. Please note that submission of Aadhar is voluntary and you may wish to submit any one of the other alternatives provided above.

    c. Your selfie

  • In a bid to make the Aadhaar safer, the Unique Identification Authority of India (UIDAI) has introduced a new feature. The UIDAI has introduced 'Masked Aadhaar' which is an option that allows one to cover the 12-digit unique identity in the downloaded Aadhaar or e-Aadhaar Masked. Aadhaar Card only shows the last 4 digits of the Aadhaar number instead of the 12 digits in the regular. Hence, for your information security, we wish you could mask your Aadhaar Number. And We do not store Aadhaar after reviewing your application and never reveal it to anyone

  • Download from UIDAI

    Log on to the UIDAI website uidai.gov.in

    Under My Aadhaar Tab, click on Download Aadhaar” link. Or Under Get Aadhar Section, click on Download Aadhaar” link.

    On the next page, you have an option to download e -Aadhar using any one of three methods mentioned below:

    i. Using Aadhaar number: Resident can download e-Aadhaar by using the 12 digit Aadhaar number.

    ii. Using Enrollment ID (EID): Resident can download e-Aadhaar using the 14 digit ENO and 14 digit Date-Time stamp printed on the Enrolment slip.

    iii. Using Virtual ID (VID): Resident can also use the 16 digit VID number to download the 'e-Aadhaar'.

    Select the Checkbox I want a masked Aadhaar?.

    Do the Captcha Verification.

    Click on Send OTP button.

    Enter the OTP you have received on your registered mobile number on the next page.

    Complete a Quick Survey on the OTP page.

    Click on Verify and Download Button.

    ***Important Note

    The Aadhaar electronic copy is a password protected document.

    The Aadhaar letter PDF Password will be in 8 characters

    Combination of the first four letters of your name (as in Aadhaar) in CAPITAL letters and Year of Birth in YYYY format.

    Example : Your name is ANISH Y KUMAR Your Year of Birth is 1989

    Then your e-Aadhaar password is ANIS1989

    b. Mask the number by yourself

    If you have requirements to mask the Aadhaar but its not convenient to download from UIDAI, you could also mask it by cover the number by yourself.

  • Because the review data takes a certain amount of time, the audit result will be given at the latest 1 working day. If it exceeds 1 working day, please contact customer service in time: admin@loancloud.in

  • Please confirm that your bank account number is yours. Please confirm that your IFSC and bank account are not filled in incorrectly. Make sure your account is a savings account and not a fixed asset account, credit account or virtual account.

  • Mobile linked with Aadhaar is the mobile number which is updated in your Aadhaar. For e-signing the Loan Agreement, UIDAI will send you an OTP on this number. You can get your Mobile Number linked to your Aadhaar Card.

  • The Loan Agreement is a legally binding agreement that you need to sign before availing a Loan. The agreement states that once a loan is disbursed to you, you are liable to pay back the entire amount with interest and other charges as applicable within the maturity of the Loan.

  • You will receive two OTPs once you click on the 'e-sign' via digio option. The first OTP will be sent to the same mobile number with which you have registered with us. The OTP is delivered by your network operator and network issues can prevent you from receiving the OTP. In case of any issues in this OTP, try again after switching off and restarting your phone. Or else, you can try after some time.

    The second OTP will be sent to the contact number that is linked to your Aadhaar. In case you don't have ready access to the same, you may find it at the UIDAI website. The OTP would also be delivered to the E-mail ID linked to your Aadhaar. If you still don't receive the second OTP, please reach out UIDAI or your nearest Aadhaar centre.

  • When you fill out your personal information, we will ask you to provide your bank account and we will verify your account. After you sign the agreement, we will directly transfer the money into your bank account.

  • Your account may be incorrect. Please re-verify.

    If the account is correct, the loan delay is no more than 1 working day. If you have not received the payment after more than one working day, this may be due to the banking system. Please contact: admin@loancloud.in

  • We will start to calculate interest when the money is successfully transferred.

  • Since there is some operational effort that goes into performing credit checks and sanctioning the loan, the processing fee is charged upfront from the loan amount. However, this is a standard practice followed by all financial entities.

  • You can see your due amount on the app homepage and we will also notify you the repayment amount by SMS.

  • You can log in to the app to see your repayment date.

  • If we have successfully disbursed to you, you can click on the IMPS, eCollection with or without validation and Eazypay of the app repayment homepage, and through the payment gateway repayment, we offer four repayment methods: Debit Card, UPI, Netbanking, wallet. We will soon provide more repayment methods for you to choose from.

  • A third party will charge you a fee, and you are advised to use netbanking to repay it because his fees are relatively low. The specific fee price list is as follows:

    *The above charges exclude GST and other applicable taxes

  • A third party will charge you a fee, and you are advised to use netbanking to repay it because his fees are relatively low. The specific fee price list is as follows:

    *The above charges exclude GST and other applicable taxes

  • We will charge a 2% penalty fee per day. Your Credit score will be updated as a defaulter with credit rating agencies which will make it difficult for you to take loans with any bank or financial institution in the future. Companies also check an individual's credit score and may not offer you employment if your credit score is bad.

  • No. We can only repay in the four ways provided on the mobile phone. If you encounter repayment problems, please contact customer service at admin@loancloud.in

  • No. We can only repay in the four ways provided on the mobile phone. If you encounter repayment problems, please contact customer service at admin@loancloud.in

  • Prepayment charges will be applicable as per the interest rate as prescribed.

  • No, we don't currently offer such a service.

  • When you pay off, we will notify you by text message. At the same time, log in to the app to see the records you have repaid.

  • There can be times when, because of network issues or issues with the payment gateway, the money gets debited from your account but it does not get accepted by the payment gateway. In the case, you should get your money back within 7 working days. If you still do not get the money back to your account, please get in touch with us on xxxxxxxxx with screenshots for us to help you.

  • There can be times when, because of network issues or issues with the payment gateway, the money gets debited from your account but it does not get accepted by the payment gateway. In the case, you should get your money back within 7 working days. If you still do not get the money back to your account, please get in touch with us on xxxxxxxxx with screenshots for us to help you.

  • You do not need to submit your information again, but if your information changes, please update your information in My Profile on app in time or contact customer service to change. In this regard, we will re-review.

  • Please make sure your mobile phone number is correct. If you still can't receive the verification code, it may be the operator's fault. Please re-send OTP later or contact customer service.

  • Please send a screenshot to our email and describe the problem: admin@loancloud.in

  • You need to apply from the most basic products. According to your credit and repayment records, your credit will gradually accumulate and the amount will gradually increase.

  • You can begin exactly from where you left off, once you re-start the app.

  • Yes, your data is safe with us. It is transferred over a secure connection to us, and we do not share it with anyone without your consent, except with the lenders.

  • For all product we charge a flat interest rate of 33% (Annualized Interest Rate)

  • For Personal Loan 15 Day tenure loan products - Processing fee is charged upto 0.66% per day.

    Note: GST charges at 18% are applicable on Processing Fee

    The processing fee (including GST) are deducted from your loan amount and the remaining amount will be disbursed to your account.

  • For Personal Loan 15 Day tenure loan products - Processing fee is charged upto 0.66% per day.

    Note: GST charges at 18% are applicable on Processing Fee

    The processing fee (including GST) are deducted from your loan amount and the remaining amount will be disbursed to your account.

  • You will be charged a per-day penalty charge of 2% of the installment principal amount for each and every installment that is overdue. Note that the late payment charges are to be paid in addition to the regular interest payment. To avoid late payment charges and reporting of delayed payments to Credit Bureaus, you are highly advised to repay on or before the due date.

    Loan Amount: from ₹ 1,000 to 60,000.

    Tenure: the shortest tenure is 91 days, the longest tenure is 365 days. Interest rate: Depends on the customer's risk profile and loan tenure. The maximum interest rate is 33% per annum.

    Whats the overview of Loancloud loan product?

  • You will be charged a per-day penalty charge of 2% of the installment principal amount for each and every installment that is overdue. Note that the late payment charges are to be paid in addition to the regular interest payment. To avoid late payment charges and reporting of delayed payments to Credit Bureaus, you are highly advised to repay on or before the due date.

    Whats the overview of Loancloud loan product?

    Loan Amount: from ₹ 1,000 to 60,000.

    Tenure: the shortest tenure is 91 days, the longest tenure is 365 days. Interest rate: Depends on the customer's risk profile and loan tenure. The maximum interest rate is 33% per annum.

    For example: If the loan amount is ₹10,000 and the interest rate is 30% per annum with the tenure of 91 days, after deducting the processing fee, the interest payable is as follows :

    Interest = ₹ 10,000 * 30% / 365 * 91 = ₹ 748.

  • No. At the same time, you can only borrow one, please pay off one and then borrow the next one.

  • Once the loan application has been submitted, the loan can't be cancelled.

  • You can contact customer service to modify your mobile phone number. We do not support directly modifying the mobile phone number on the app.