This is done via the limit that's assigned to you. * Send Money - it can be used to send money to bank account * postpe loans – postpe loans allows users to transfer money to bank account at low interest rates for EMIs for minimum tenure of 3 months and maximum tenure 15 months * Cashbacks and Rewards - Unlock cashback and rewards at multiple places * Easy EMI - Pay in full or convert to low-interest EMIs * One Bill, Multiple Transactions - postpe aggregates all your transactions and generates one bill How to use postpe? * Download the postpe app * Sign up using phone number * Complete your KYC * Start transacting with postpe When do I have to repay? * Bill is generated on the 1st of every month. You can repay within 5 days of bill generation or convert to EMIs. * You can pay your bill using any UPI app, debit card or net banking. EMI calculation: postpe extends credit line between Rs. 1,000 to Rs. 10,00,000 with instant approval and no collateral for a tenure upto 15 months Repayment Terms: Bill is generated every month. Users have option to convert bills to EMIs from 3 months upto 15 months. Users can also repay bill in full at no interest cost by the due date. postpe loan repayment tenure ranges from minimum of 3 months to a maximum of 15 months Annual Percentage Rate (APR): Ranges from 18% - 70%. APR is communicated on the postpe App while converting bill to EMIs or taking postpe loans. APR will be different for different tenures of EMIs. Example of postpe loans: * Amount chosen by user: Rs. 1,00,000 * Tenure: 12 months * Interest Rate : 18% per year (reducing) * Processing fees: 2.5% * Repayment Amount: Rs. 1,11,196 * Total Interest Payable: Rs. 11,196 * Processing Fees (incl. GST): Rs. 2500 * Monthly installment (EMI): Rs. 9266.32 * Total Cost of the Loan: Interest Amount + Processing Fees = Rs.2,500 + Rs.11,196 = Rs 13,695 * APR : 24.8% An example of Bill to EMI conversion: * Amount converted into EMI: Rs. 1,00,000 * Tenure: 6 months * Interest Rate (APR): 18% per year * Repayment Amount: Rs. 1,09,000 * Total Interest Payable: Rs. 100,000 x (18%/12)*(6 months) = Rs. 9,000 * Processing Fees (incl. GST): Rs. 0 * Monthly installment (EMI): Rs. 18,166.67 * Total Cost of the Loan: Interest Amount + Processing Fees = Rs.9,000 + Rs.0= Rs. 9,000 Permissions: As per the National Payments Corporation of India (NPCI) regulations, it is mandatory to enable SIM binding (Send and Receive SMS) from the user's device to authenticate and authorize payments. We also take permissions like Location and Contacts to provide with additional data points that enable our partners to underwrite you better. You can check the Privacy Policy for details - https://postpe.app/privacy.html NBFC partners: postpe is a platform and does not give out loans directly to users. postpe has partnered with RBI approved NBFCs - LendenClub(Innofin Solutions Private Limited), TrillionLoans Fintech Pvt Ltd and Hindon mercantile limited. postpe credit limit is sanctioned by one of the NBFCs listed above. You will be shown a sanction letter of the NBFC on the app and shared as a notification. Please note that postpe is the brand name of the application launched by Resillient Innovations Private Limited (BharatPe). BharatPe is our developer name. Contact Us: Reach out to us for any queries and suggestions. Our contact details are : Address: 7th Floor, Tower 8C, Cyber City, DLF City Phase 2, Gurugram, Haryana, 122008 Email: [email protected] Website: postpe.app
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