Capital Connect 70.0

Capital Business Loans offers a personal loan solution through its app, Capital Connect, which is tailored for salaried professionals seeking quick financial assistance. The platform facilitates personal loans ranging from ₹1,000 to ₹50,000 with immediate transfers directly to the user's bank account. This service provides a helpful tool for managing cash flow between paydays through an interest-free credit line.

Features of Capital Salary Advance:

• Annual Percentage Rate (APR): 48%
• Tenure: 12 months
• Convenience Fee: 4% on withdrawal
• One-time Setup Fees: ₹100 (applicable on first withdrawal)
• Interest: 0%
• Credit Line Reinstatement: Automatic upon repayment
• Repayment Options: Flexible methods available
• Application Process: Completely paperless
• Transfer Speed: Instant transfer of funds
• Accessibility: Available 24/7 during the month, with payment due by the 7th of the following month
• Credit Line Increase: Regular increments based on repayment behavior

This service aims to provide immediate access to funds without the delays typically associated with traditional banking methods.

Advantages of Choosing Capital Salary Advance:

• No interest charged on the credit line
• Rapid disbursal of funds
• Transparent fee structure
• Flexible repayment options tailored to user needs
• Convenient access via mobile app
• Automatic renewal of credit line
• Only pay fees when utilizing the credit limit

Eligibility Criteria:

• Salaried professionals aged 21 and above
• A minimum net monthly salary of ₹15,000
• Salary must be credited through direct bank transfer only
• The following documents are required: PAN card, identity and address proof, and a three-month bank statement showing salary deposits

Sample Loan Calculation:

• Credit Line Amount: ₹5,000
• Loan Duration: 12 Months (amount withdrawn requires monthly repayments plus convenience fees)
• Total Convenience Fees: ₹200 (4% fee on withdrawal)
• Total Repayable Amount: ₹5,300 (including withdrawal amount, convenience fees, and setup fees)
• <emAPR (excluding one-time setup fees): 48%
• 72%