Aspire Business Loan Review, How to Apply

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Are you a businessperson or self-employed individual in need of financial assistance for your entrepreneurial endeavors? Aspire Business Loan may be the solution you’ve been looking for.

In this detailed guide, we will delve into the key aspects of Aspire Business Loan, from interest rates to application procedures, eligibility criteria, the Aspire app, and its legitimacy.

Interest rates are a pivotal factor when considering any loan. Aspire Business Loan offers an interest rate starting at 2% per month. It’s essential to note that interest rates can fluctuate over time. So, before accepting any loan offer, always ensure you are aware of the current interest rates.

Eligibility Criteria for Aspire Business Loan

Before you jump into the loan application process, it’s crucial to understand if you meet the eligibility criteria. Here are the key factors:

  • Age: Applicants must be between 23 to 50 years old.
  • Occupation: Aspire Business Loan is specifically designed for self-employed individuals.
  • CRIF Score: A CRIF score greater than 630 is required.
  • No Overdue: Your financial history should not have any overdue payments.
  • Zero DPD: A critical requirement is having zero Days Past Due (DPD) in the last 6 months.
  • No Loan Write-Offs: Applicants should not have any previous loan write-offs.

How to Use Aspire for Making Purchases

To make purchases using the Aspire app and understand how Aspire charges its users, follow these steps:

  1. Open the Aspire App: Launch the Aspire app on your mobile device.
  2. Choose Your Purchase: Select the item or service you wish to purchase.
  3. Scan UPI QR Code: When it’s time to make a payment, scan the UPI QR code provided by the seller using the Aspire app.
  4. Confirm Payment: Verify the payment details and confirm the transaction.
  5. Buy Now, Pay Later: Aspire allows you to buy now and pay later, providing you with financial flexibility.

Example of How Aspire Charges

Understanding how Aspire calculates its charges is essential for responsible financial management. Here’s an example of how Aspire charges its users:

Credit Limit: Your assigned credit limit is ₹5,000/-

Monthly Fee: You have a monthly fee of ₹150, plus ₹27 in GST, totaling ₹177 per month.

1st Transaction: Suppose you make a purchase of ₹4,000 on December 4. As a result, you’ll have four EMIs of ₹1,000 each, due on January 8, February 8, March 8, and April 8.

2nd Transaction: On December 31, you make another transaction, this time for ₹400. This transaction also results in four EMIs of ₹100 each, due on the same dates as the first transaction.

January 1st Bill: When your January 1st bill arrives, it includes the following charges:

  • EMI from the 1st transaction: ₹1,000/-
  • EMI from the 2nd transaction: ₹100/-
  • Monthly charges: ₹177/-

Amount Due on January 8: Your total amount due on January 8 is calculated as follows:

  • EMI from the 1st transaction: ₹1,000
  • EMI from the 2nd transaction: ₹100
  • Monthly charges: ₹177

So, the total amount due on January 8 is ₹1,277/-. It’s important to keep track of your transactions and payment due dates to ensure responsible financial management when using the Aspire app for your purchases.

How to Apply for Aspire Business Loan

The application process for Aspire Business Loan is designed to be simple and efficient. Here’s how you can apply:

  1. Install Aspire App: First, download the Aspire app from the Google Play Store. We’ll provide detailed steps on this in the next section.
  2. Fill PAN and Basic Details: Input your PAN (Permanent Account Number) and basic information.
  3. Complete KYC with Selfie and Aadhaar: Follow the app’s prompts to complete the KYC (Know Your Customer) process by taking a selfie and providing your Aadhaar details.
  4. Setup Repayment and Start Shopping: Once your KYC is verified, you can set up your repayment plan and start using Aspire for your financial needs.

Aspire App Download

To install the Aspire app from the Google Play Store, follow these steps:

  1. Open the Google Play Store on your Android device.
  2. Search for “Aspire Business Loan” in the search bar.
  3. Click on the Aspire app in the search results.
  4. Tap the “Install” button to download and install the app.

It’s essential to note that you should always download loan apps from official app stores, like the Google Play Store, to avoid potential risks associated with unofficial sources.

How to Contact Aspire Customer Care

Should you need assistance or have inquiries about Aspire Business Loan, you can contact their customer care. You can reach out to them via the following methods:

  • Phone Number: You can contact Aspire Business Loan via WhatsApp at +91 83103 26017.
  • Online Chat: If you prefer online communication, you can initiate a chat on Aspire business loan website

In conclusion, Aspire Business Loan provides a valuable resource for businesspeople and self-employed individuals seeking financial support.

With competitive interest rates, a straightforward application process, and an official app available on the Google Play Store, it offers convenience and accessibility.

However, always stay informed about any changes in loan terms and be cautious in your financial dealings.

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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