Only Use RBI-Approved Loan Apps or Risk CIBIL
59sThis warning about CIBIL damage from instant loan apps is a relatable financial fear that drives saves and shares.
▶ Play Clip"Delivers on the title with a thorough breakdown of the Quid loan app, including costs and RBI verification."
The video provides a detailed review of the Quid Personal Loan app, an RBI-approved digital lending platform in India. It covers eligibility criteria, loan amounts, interest rates, processing fees, and how to verify the app's NBFC partners. The host emphasizes responsible borrowing and checking RBI approval before taking a loan.
Only use instant loan apps approved by the RBI. Check reviews on the Play Store and App Store to verify credibility.
Taking a loan you can't afford damages your CIBIL score. Assess repayment ability before applying.
Since NBFCs are not obligated to follow bank rates, they charge higher interest rates, often up to 36% per annum.
Loan amounts range up to ₹7 lakhs based on credit score, with tenure up to 5 years. Interest rates vary from 10.5% to 36%.
A minimum monthly salary of ₹20,000 is required, and age should be between 21 and 55 for the main applicant.
Applicants must be Indian citizens aged 18 to 55, with income credited to their bank account.
Submit identity proof (voter ID, passport), address proof (utility bills), and income proof (bank statements, salary slips).
The Quid app, by Quid Innovation Pvt Ltd, has 1.5 million downloads and no major complaints.
Quid's NBFC partner is Banix Finance Private Limited, which is listed in the RBI's NBFC list (row 1155).
For a loan of ₹1-5 lakh: 13% interest, 2% processing fee (₹3000 + GST ₹354), EMI between ₹1339-1398, repayment in 1 year.
Apply in just 59 seconds with a 100% digital process, flexible EMI from 3 to 60 months, and unsecured loans.
What is the minimum monthly salary required for the Quid personal loan?
₹20,000 per month
02:38
What is the age range for Quid personal loan eligibility?
18 to 55 years
02:54
What is the maximum loan amount offered by Quid?
₹7 lakhs (based on credit score)
02:24
What is the processing fee for a ₹1.5 lakh loan from Quid?
2%, which is ₹3000 plus GST ₹354
05:14
How long does it take to apply for a loan through the Quid app?
59 seconds
06:11
Which NBFC is partnered with Quid?
Banix Finance Private Limited
04:31
What interest rate is mentioned for Quid loans?
13 percent
05:14
What documents are accepted as address proof for Quid?
Utility bill, voter ID card, passport
03:07
What is the repayment tenure range for Quid loans?
3 to 60 months
06:36
RBI approval is non-negotiable
Establishes the core safety principle for digital lending: always verify regulatory approval before borrowing.
00:17NBFCs set their own rates
Explains why instant loan apps often charge higher interest than banks, a key factor for borrowers to understand.
01:43Loan terms are broad
Highlights the wide range of loan amounts and interest rates, showing the importance of reading fine print.
02:24Verify NBFC partners
Demonstrates a practical, actionable method to confirm an app's legitimacy via the RBI list.
04:31[00:03] five years to anyone over the age of 18. subscribe to the channel. If you click the bell button next to it, you will receive notifications on your mobile
[00:17] whenever I update videos . Instant loans are the instant loan apps in India today. Use them only when approved by the RBI. You
[00:30] in India today. Use them only when approved by the RBI. You their reviews on the Play Store and App Store. Verify the understand it properly.
[00:47] We must have the ability to repay. If you cannot RBI approved loan apps. We have a better chance of getting a job. It's a huge task once this update is released in our CIBIL . So
[01:02] . If we can't afford to pay, we shouldn't take out a loan. All loan applications are purchased with a high level of interest. Because We are not given loans without purchasing any documents or gold from them. If we go to
[01:16] take out a loan, they will ask for our ID. Or you can put something up as collateral. They will give us a loan after considering all that. loans from banks like ISAF will be
[01:31] 15 people together and give them a loan. If any one person does not pay the loan, . That's how you give a loan. They don't use that method. Since they are
[01:43] Therefore, they will set their own interest rate obligated to give it. So, you can only take it if you are interested. Anyway, you can only take it if you are interested. Anyway,
[01:55] Cute. Very cute. So let's . Get Personal Loan with Multitude of Benefits Many benefits High loan amount and quick disposal and collateral free loan
[02:11] Flexible repayment 100% paperless All banks give a percentage of things You can see They charge an interest rate of 10.5-5 percent very low interest rate from many loan apps However,
[02:24] they can sometimes buy up to 36 that is 3 percent per month You can buy a loan amount up to 7 lakhs Less than that Now you can get one lakh Based on our credit score The same is the tenure Maximum up to five years
[02:38] Minimum 20 thousand rupees per month salary Only those who have it will be given, years to 55 years A 21 year old They only give loans as main. When they say that there is less chance for 18 years old, they
[02:54] applicable by partner. They will be like the partner's plan. Now let's look at the eligibility criteria for personal. Age 18 to 55 years. Nationality must be Indian. You must receive income on to 55 years. Nationality must be Indian. You must receive income on
[03:07] account. Only the person who receives your income in your bank account can receive it. You You can submit address proof by submitting utility voter ID card, passport, etc.
[03:20] You can submit bank account statements, salary slips, etc. as proof of income. This is identity. They will verify your identity. Two, declare your information and three, submit your application. Then, the number for match and align and get instant approval.
[03:35] steps. Total steps. Now, how can we close this? All the questions that we regularly ask and the answers to them can be application. I am
[03:51] name of their loan app is Quda. First, go to their site and go to the contact us page and went into About Us and saw if there were any details.
[04:04] only content like this. Now I'm going straight to their loan app. There is generally a lack of information on the website. Once we go to the loan app, we can see that the Cute Innovation Private Limited Personal Loan App has been downloaded by 1.5 million people
[04:19] no major problems or issues. Who is this NBFC? Is their NBFC registered? S Banix Finance
[04:31] Private Limited is their NBFC. Let's go straight to the RBI's NBFC list and enter Banix in row 1155. Banix Finance Investment Limited is the company that is
[04:46] approved by the RBI. Now, once you reach Banix's website, digital lending platform, there is another company inside it. So, we can understand that these are also approved inside it. So, there
[04:59] is Banix and there are also one or two other companies. If we go down to those companies one by one, we can see that they are M Investment Limited. This Arham is already ready. We have
[05:14] good app for you to take a loan. Now let's go to the details of the app. Loan amount 1-5 lacs. Interest 13 percent. Pranam 1-5 lacs. Interest 13 percent. Pranam and repayment one year. Processing fee 2% that is
[05:27] 3000 plus GST 354. Loan EMI 1339-1398. Loan EMI 1339-1398. Loan repayment amount after one year.
[05:45] That is additional. The cost to you is the loan total cost. There is no good interest rate in a good way.
[05:57] and can be used as a medical loan. You can use it to buy a free vehicle. It can be used as a weddings. It activities, and you can use it for all purposes.
[06:11] you can use it for all purposes. Another special feature is that it is a quick loan app. You can apply for a loan in 59 seconds, and in one minute. It is a 100% digital process
[06:23] and a trusted platform. It is a type of NBFCs that are approved by the RBI and multiple NBFCs. It has fast loan approval, low its benefits are all there. Apply to exclusive benefits and
[06:36] flexible terms from 3 to 60 months. They offer flexible EMI options from 3 to 60 months. Unsecured loans, zero assets, no need to stake anything. Bill payment, recharge and Alipay salary. There are
[06:49] mentioned. You can see. Anyway, if 5 million people have downloaded it, that would be . Because it won't be a small application . Now it is . Let's all search for the company and see. Just
[07:02] search for the company and see. Just can see their details. We can find information about the company called Quit Innovation Private Limited if we search for its name online
[07:14] . Not everything on the home page is related to the app, but everything on the website is related to the loan . Answers to questions like "RU Bank or NBFC" have been provided
[07:27] You can try. Everyone must try that and see if we can do the same. The . It's a shame that you didn't provide a contact number. Because
[07:41] customers had addresses and other details of these NBFCs have been provided. But there's nothing negative thing . There is no contact number inside
[07:54] . Even if you go to the Contact Us page, Assist at Quid Money, as well as a contact page here, only provides so many things. Maybe things, and maybe it's just because they
[08:07] maybe they've given it to them as a built-in loan app . This is a good application that has been approved by So Guys RB everyone be able to take out a loan through this . I just hope that all your essential
[08:20] . Once you take out the loan, . Please share this video with . We'll see you tomorrow for another great video. Shawnee signing
[08:36] We'll see you tomorrow for another great video. Shawnee signing off. [Music]
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