Receiving instant loans in UAE via Lendme – Monami Tech’s app seeks to make loan applications easier by assessing applications and approving them right away if they’re qualified.
Moreover, the UAE-accredited fintech monetary company (Monami Tech) has recently launched the Lendme app in order to offer instant loans over different money channels, e-commerce platforms & mobile apps.
The Lendme app attempts to minimize loan application processing time by providing instant approval if the applicant matches the loan eligibility standards.
Lendme may be found on a variety of platforms, including e-commerce and mobile app shops.
The reason for this is because – The idea comes at a time when 12.8% of UAE residents are apparently looking for loans, with the rate of business loans slightly increasing.
For more information on the Lendme instant loan app in UAE, keep on reading below.
Instant Loan App in UAE – Lendme App Overview
Also, it features a white label solution that can be customized, as well as built-in electronic submission, digital validation, merchant integration, & ID automation processes.
Lendme is customized to handle higher issues in the aspect of loans – delay. Personal loans and credit cards take anything from an hour to two and a half days to process.
For the process to reflect in the market it takes up to four or more days, meanwhile, the business loans use an average time of 10 – 15 days to process.
Furthermore, according to the CEO of Monami Tech & founder of Lendme – Brian Quarrie, he said that “the aim of Lendme has been to reduce this window with faster loan approval methods, with instant scoring & swift processing times”.
Also, According to Monami Tech, Lendme employs a vast quantity of data and can better analyze an applicant’s creditworthiness than human processes.
Monami Tech Launch Updates
Instant Loan App in UAE: within the end of Q1 2018, the company – Monami Tech will launch a loan management platform _ Lendpro & risk assessment platform _ Lendgate. And also, they will build an end-to-end loan lifecycle management system.
Instant Loan App in UAE – How the Lendme app works
Lendme is a digital platform that allows for the smooth creation of loans. This covers the current issues that the banking sector is experiencing.
And this can be remedied by lowering internal/external costs, increasing income, and making it easier for clients to get a loan.
Furthermore, by allowing merchants to raise their sales and, most critically, banking institutions to generate new sources of revenue.
Additional FAQs on Instant Loan Apps in UAE
In this section, we will be considering FAQs by individuals who likely want to apply for loans instantly in the UAE.
- How do I collect loans instantly from my credit card in UAE?
- How much loan can my credit card be against?
- Where can I get a loan in Dubai, UAE?
- What type of loan belongs to a credit card
See below to find out the answers to these questions above.
How do I Collect Loan Instantly from my Credit Card in UAE?
At first, you can collect loans through your credit card; however, this is done only through the ATM machine where you withdraw cash. Getting loans instantly from your credit card is an advanced way of getting cash.
Moreover, a cash advance is a source of short-term loans, and this is always processed with a vast amount of fees.
How much loan can my Credit Card be against?
HDFC Bank also has a credit card loan option that is pre-approved and will be barred against your credit limit.
HDFC Bank would provide a maximum loan of Rs.5, 00,000 that can be repaid at a 1.25% interest rate. The bank offers a variety of tenure options, ranging from 48 months to four years.
Where can I get a Loan in Dubai, UAE?
Below you will find a table of the 5 best loan companies, which offers personal loan with low credit scores in Dubai, UAE.
|Loan Companies||Rates||Loan Offer|
|RAKBANK personal loan||2.75%||AED 5000|
|ADCB Personal Loan||3.45%||AED 5000|
|CBD Personal Loan||3.03%||AED 8000|
|Noor Bank Personal Loan||3.49%||AED 8000|
What type of Loan belongs to a Credit Card?
Credit cards and other open-end loans provide revolving credit, which means that you can debt to your loan when necessary.
Closed-end loans, on the other hand, are those with a fixed sum, such as car loans.
In conclusion, for more loan information, stay connected to our website @ TechSmoothy.com. Please leave a comment below, if you find this article helpful & don’t forget to share.