Everything you need to know
Paisa Daily is the digital lending platform of Ready Leasings Pvt. Ltd., a Kolkata-based company that describes itself as an RBI-registered NBFC and lends directly. It offers short-term personal loans of up to ₹50,000 to salaried applicants for 7 to 30 days, repaid in a single payment. Identity and income are verified online via PAN, DigiLocker and the Account Aggregator framework.
Minimum amount:₹5,000
Maximum amount:₹50,000
Interest rate:1% per day (365% per annum) in the representative example
APR:APR 509% (example: ₹25,000 for 30 days)
Tenure:1–1 months
Processing fee:Processing fee 10% of loan amount + 18% GST. Example: ₹25,000 for 30 days — ₹2,500 fee + ₹450 GST, net disbursal ₹22,050, total repayment ₹32,500 (APR 509%).
Tenure options of 7, 15 or 30 days, repaid in a single payment via e-NACH/auto-debit.:
Penal charge of 1.25% per day on overdue amounts; ₹500 + GST per failed debit.:
3-day cooling-off period: the loan can be closed by repaying principal plus proportionate APR without penalty.:
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