The New Delhi-based fintech start-up Loanwalle.com, offers loans for a period of 7 to 30 days, to cater to any medical or financial emergencies in 15 minutes. The firm is founded by Sachin Mittal. The USP of the fintech firm, lies in providing instant loan facility to individuals stuck in a crisis situation, through speedy approval of loans.
One can get a loan approved in 15 minutes, while generally the process including online and physical verification is completed in an hour. The amount of loan can range from Rs 5,000 to Rs 1 lakh with less cumbersome process. The interest rate is 1 per cent per day and the loan cannot be exceeded beyond 30 days.