One of the most fascinating apps that have emerged over the times in India is Quiklo. This newly launched application has come like a rescuer for the students looking to buy highly priced products online. The app has been launched few months back and has gained a clientele of over 10000. This application is widely popular among the student class in Bengaluru. Let us explore Quiklo in detail and learn about the most frequently asked questions.
Quiklo – The Introduction
The first ever loan providing platforms specifically designed for the students, Quiklo has emerged to be a saver for them. It provides students a way to buy their favourite products on EMI without credit card. They have the option to pay the money later on EMI through debit card, mobile wallets, or bank transfer. It becomes really easy for the students to avail their favourite products without too much hassle. Quiklo is the ideal solution to buy heavily priced mobiles(s) or laptop(s) on EMI. If you are short of money or don’t have a credit card, Quiklo is the recommended service for you.
Frequently Asked Questions
Here is the list of few frequently asked questions that might help you out in dealing with Quiklo and its exclusive range of the products.
What Products are Available on Quiklo?
An exclusive range of products including the laptops, mobiles, wearable, cameras etc are available at Quiklo. You can shop these products from reputed online stores like Flipkart or Amazon and pay using Quicklo EMI option.
How Quiklo is Different from Other Players in the Market?
The easy loan approval policies and rapid fulfillment process makes it the best choice among the students. It doesn’t look for financial factors while giving the loan. You just require the essential documents to get your loan request approved within a day. Moreover, the interest rates are much cheaper than the market.
Does Taking Loan from Quiklo will help you in Future?
Quiklo is partnered with the reputed NBFCs and the Banking Partners to provide Loans to the students. Your payment behavior will be reflected in the CIBIL score that will help you out in future while applying for the credit cards or loans. Quiklo will make you financially responsible too.
Eligibility Criteria, Cities of Operation, Is Aadhar Card Mandatory?
You should be 18 years old and should be an Indian citizen to apply for the loan on Quiklo. The app is presently operating in Bangalore. The Aadhar card is not mandatory, but will surely fasten the process of loan approval. If you submit any other document the loan approval process will take time. Quiklo doesn’t require credit card for loan approval.
Once your application and the documents will be received, the loan request will be sent for approval. They will call you up for the verification. Once you see ‘Fulfilled’ on your account, your order will be dispatched within two days to your address.
As per the thumb rule, you need to pay 10% of the total amount as down product for products costing 30000INR or less. If any product is above 30000INR then you have to pay the money excess to 30000. The loan can be taken for minimum 6 months and maximum 12 months. A minimal fee is charged on the loan request. You require the government approved ID proof for loan approval.
Quiklo makes use of complex algorithms for calculating your eligibility for the loan. The interest rate on loan is calculated on the basis of various parameters. The approval process takes maximum of two days. However, your loan can be rejected if Quiklo thinks that there is some fraud or on the basis of your non-ability to repay the loans.
Delivery and Fulfillment
The non-exclusive products are delivered within 2 days. The product cannot be returned. However, if the product is defective, you can return it.
The EMI can be paid through cash, but you might be charged extra fees for the same. There is a late payment fees as well, though you will be reminded for paying the EMI by Quiklo.
The Last Words
Quiklo is one of the finest services for the students looking to buy highly priced laptop(s) on EMI. Currently, it operates in Bangalore and plans to spread the region of operation in sometime later. If you are a student then this is the application you need to buy your favorite products on EMI without credit card.