Get a CapFloat Consumer Loan [AXIO] – Details | What is it | How To Close & All

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Are you looking for a quick and easy way to get the money you need for your personal or business needs? Do you want to avoid the hassle of traditional loans and enjoy flexible repayment options? If yes, then you might want to consider CapFloat Consumer Loan.

CapFloat Consumer Loan is a type of online loan that allows you to borrow money from a network of lenders without any collateral or guarantor. You can use the loan for any purpose, such as paying off debts, medical bills, home improvement, education, travel, or starting a business.

In this article, we will explain everything you need to know about CapFloat Consumer Loan, including its benefits, eligibility, interest rates, repayment terms, types, pros and cons, comparison with other loan types, tips for making the most of your loan, common misconceptions, and frequently asked questions.

PLEASE NOTE IT : NOW THE CAPFLOAT IS NOW “AXIO“.

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CapFloat Consumer Loan

What is CapFloat Consumer Loan? | Axio

CapFloat Consumer Loan is a digital lending platform that connects borrowers with lenders who offer unsecured loans ranging from Rs. 10,000 to Rs. 5 lakhs. You can apply for the loan online through the CapFloat app or website and get instant approval and disbursal within minutes.

How CapFloat Consumer Loan Works ? | How to Apply for CapFloat Consumer Loan ?

The process of applying for this Loan is simple and convenient. Here are some steps that you need to follow:

  1. Download the CapFloat app [AXIO APP] from Google Play Store or Apple App Store or visit the CapFloat website.
  2. Register with your mobile number and email address and create your profile.
  3. Fill in your personal and financial details and upload your KYC documents such as Aadhaar card, PAN card, bank statement, salary slip, etc.
  4. Choose the loan amount and tenure that suits your needs and preferences.
  5. Review and accept the loan agreement and submit your application.
  6. Get instant approval and verification from CapFloat and its partner lenders.
  7. Receive the loan amount in your bank account within minutes.
CapFloat Consumer Loan

Benefits of CapFloat Consumer Loan | Axio

This Loan offers several benefits over traditional loans, such as:

  • No collateral or guarantor required: You don’t need to pledge any asset or involve any third party to get a Loan. Your credit score and income are enough to qualify you for the loan.
  • Fast and easy process: You can apply for a this Loan anytime and anywhere through your smartphone or computer. The entire process takes only a few minutes and you get instant approval and disbursal.
  • Flexible repayment options: You can choose the loan tenure that suits your budget and cash flow. You can also prepay or part-pay your loan without any penalty or extra charges.
  • Low interest rates: This Loan offers competitive interest rates starting from 11.99% per annum depending on your credit profile and loan amount. You also save on processing fees and other hidden charges that are common in traditional loans.
  • Multiple loan types: You can choose from various types of CapFloat Consumer Loan depending on your purpose and requirement. You can opt for personal loans, business loans, debt consolidation loans, medical loans, vacation loans, etc.

Eligibility for CapFloat Consumer Loan

To be eligible for this Loan, you need to meet the following criteria:

  • To be eligible for the loan, you need to be an Indian citizen and resident.
  • You must also be at least 18 years old with a valid Aadhaar card and PAN card.
  • Additionally, you need to have a bank account with a valid IFSC code.
  • Your monthly income from a salaried or self-employed source must be at least Rs. 15,000.

Requirements for CapFloat Consumer Loan | Documents Required :

To apply for the Loan, you need to provide the following documents:

  • Aadhaar card
  • PAN card
  • Your Bank statement for the last 6 months
  • Salary slip for the last 3 months (for salaried borrowers)
  • Income tax returns or GST returns for the last year (for self-employed borrowers)

Interest Rates and Repayment Terms

The interest rates and repayment terms for Cap Float Consumer Loan vary depending on your credit profile, loan amount, and loan tenure. Here are some general guidelines:

  • The interest rates range from 11.99% to 36% per annum.
  • The loan tenure ranges from 3 months to 36 months.
  • The processing fee ranges from 1% to 5% of the loan amount.
  • The late payment fee is 2% of the overdue amount per month.
  • The prepayment or part-payment fee is nil.

You can use the CapFloat app or website to check your loan status, EMI schedule, repayment history, and other details. You can also use the app or website to make your EMI payments through various modes such as UPI, debit card, net banking, etc.

Types of CapFloat Consumer Loan

Cap Float Consumer Loan offers various types of loans to suit your different needs and purposes. Here are some of the common types of Loans:

  • Personal Loans: These are general-purpose loans that you can use for any personal or household expense, such as education, wedding, home renovation, travel, etc. You can borrow up to Rs. 5 lakhs for a tenure of up to 36 months.
  • Business Loans: These are loans that you can use for your business needs, such as working capital, inventory, equipment, expansion, etc. You can borrow up to Rs. 5 lakhs for a tenure of up to 36 months.
  • Debt Consolidation Loans: These are loans that you can use to pay off your existing debts, such as credit cards, personal loans, etc. You can consolidate your multiple debts into one single loan with a lower interest rate and a longer tenure. You can borrow up to Rs. 5 lakhs for a tenure of up to 36 months.
  • Medical Loans: These are loans that you can use for your medical expenses, such as hospital bills, surgery costs, medicines, etc. You can borrow up to Rs. 5 lakhs for a tenure of up to 36 months.
  • Vacation Loans: These are loans that you can use for your travel expenses, such as flight tickets, hotel bookings, sightseeing, etc. You can borrow up to Rs. 5 lakhs for a tenure of up to 36 months.

Pros and Cons of CapFloat Consumer Loan

Cap Float Consumer Loan has its own advantages and disadvantages that you should consider before applying for it. Here are some of the pros and cons of It:

Pros:

  • No collateral or guarantor required: You don’t need to risk any asset or involve any third party to get a Loan. Your credit score and income are enough to qualify you for the loan.
  • Fast and easy process: You can apply for a this Consumer Loan anytime and anywhere through your smartphone or computer. The entire process takes only a few minutes and you get instant approval and disbursal.
  • Flexible repayment options: You can choose the loan tenure that suits your budget and cash flow. You can also prepay or part-pay your loan without any penalty or extra charges.
  • Low interest rates: Cap Float Consumer Loan offers competitive interest rates starting from 11.99% per annum depending on your credit profile and loan amount. You also save on processing fees and other hidden charges that are common in traditional loans.
  • Multiple loan types: You can choose from various types of Consumer Loan depending on your purpose and requirement. You can opt for personal loans, business loans, debt consolidation loans, medical loans, vacation loans, etc.

Cons:

  • High credit risk: Since this Loan is an unsecured loan, it carries a high credit risk for both the borrower and the lender. If you default on your loan repayment, it will negatively affect your credit score and history. It will also make it difficult for you to get another loan in the future.
  • High interest rates for low credit scores: If you have a low credit score or a poor credit history, you may have to pay a higher interest rate for a this Consumer Loan than someone with a good credit score or history. This will increase your overall cost of borrowing and reduce your savings.
  • Limited loan amount and tenure: The maximum loan amount and tenure that you can get from this Loan is Rs. 5 lakhs and 36 months respectively. This may not be enough for some borrowers who need more money or more time to repay their loans.

READ MORE – How to Take Loan from Google Pay in 2023: A Complete Guide

Here are some Questions related to it and you Would Like to Know its Answers :

What is CapFloat consumer loan customer care number ?

Ans: The customer care number for CapFloat consumer loan is 1800-419-0999. You can also email them at info@capitalfloat.com or chat with them on their website or app.

How to close Cap Float consumer loan?

Ans: To close your loan, you need to pay off your outstanding balance and any applicable fees and charges. You can prepay or part-pay your loan anytime without any penalty or extra charges. You can make your payments through various modes such as UPI, debit card, net banking, etc. through the CapFloat app or website.

How to Make CapFloat loan payment?

Ans: To make your CapFloat loan payment, you need to visit the CapFloat app or website and choose your preferred mode of payment such as UPI, debit card, net banking, etc. You can also set up an auto-debit facility for your EMI payments through your bank account.

How to Find CapFloat loan account number?

Ans: To find your CapFloat loan account number, you need to login to your CapFloat app or website and go to your profile section. You can then see your loan account number along with other details such as loan amount, tenure, interest rate, EMI amount, etc.

What is Axio CapFloat ?

Ans : Axio CapFloat is a partnership between Axio Biosolutions and CapFloat to provide medical loans for healthcare expenses. The loans range from Rs. 10,000 to Rs. 5 lakhs and have a tenure of 3 to 36 months. The interest rates start from 11.99% per annum and the processing fee is 1% to 5% of the loan amount. The loans are unsecured and do not require any collateral or guarantor

How to Login to CapFloat consumer loan?

To login to your loan account, you need to visit the CapFloat website or app and enter your registered mobile number or email ID. You can then access your loan status, EMI schedule, repayment history, and other details.

What are CapFloat loan Details ?

CapFloat is a digital lending platform that offers various types of loans for personal and business needs. The loans range from Rs. 10,000 to Rs. 5 lakhs and have a tenure of 3 to 36 months. The interest rates start from 11.99% per annum and the processing fee is 1% to 5% of the loan amount. The loans are unsecured and do not require any collateral or guarantor

Comparison with Other Loan Types

This Consumer Loan is different from other types of loans in terms of eligibility, interest rates, repayment terms, and features. Here are some of the common loan types that you can compare with this Consumer Loan:

  • Bank Loans: These are loans that you can get from banks or other financial institutions. They usually require collateral or guarantor and have a lengthy and tedious application process. They also have higher interest rates and stricter repayment terms than Cap Float Consumer Loan. However, they offer larger loan amounts and longer loan tenures than Cap Float Consumer Loan.
  • Credit Cards: These are cards that allow you to make purchases and pay later with interest. They do not require any collateral or guarantor and have a quick and easy approval process. They also have flexible repayment options and offer rewards and discounts. However, they have very high interest rates and fees and can lead to overspending and debt traps if not used wisely. They also have lower credit limits than Cap Float Consumer Loan.
  • Payday Loans: These are short-term loans that you can get from online lenders or physical stores. They do not require any collateral or guarantor and have a fast and simple approval process. They also have no credit checks and offer instant cash. However, they have extremely high interest rates and charges and very short repayment terms. They also have very small loan amounts than this Consumer Loan.

How to Make the Most of Your CapFloat Consumer Loan

This Consumer Loan can be a great option for your financial needs if you use it wisely and responsibly. Here are some tips for making the most of your Cap Float Consumer Loan:

  • Borrow only what you need: You should borrow only the amount that you need for your specific purpose and not more than that. This will help you avoid unnecessary debt and interest payments.
  • Compare your options: You should compare the interest rates, fees, features, and reviews of different lenders before choosing a Cap Float Consumer Loan. This will help you find the best deal for your needs and preferences.
  • Repay on time: You should repay your EMIs on time every month without fail. This will help you avoid late payment fees and charges and maintain a good credit score and history.
  • Prepay or part-pay if possible: You should prepay or part-pay your loan whenever you have extra money or income. This will help you reduce your interest cost and loan tenure and save money in the long run.

Common Misconceptions about Cap Float Consumer Loan

There are some myths and misconceptions about Cap Float Consumer Loan that may prevent you from applying for it or using it properly. Here are some of the common misconceptions about this Consumer Loan and the truth behind them:

  • CapFloat Consumer Loan is a scam: This is not true. This Consumer Loan is a legitimate digital lending platform that is registered with the Reserve Bank of India (RBI) as a non-banking financial company (NBFC). It follows all the rules and regulations of the RBI and has a transparent and secure system for lending and borrowing.
  • CapFloat Consumer Loan has hidden charges: This is not true. This Consumer Loan does not have any hidden charges or fees that are not disclosed to the borrowers upfront. It only charges a processing fee of 1% to 5% of the loan amount and a late payment fee of 2% of the overdue amount per month. It does not charge any prepayment or part-payment fee or any other charges that are not mentioned in the loan agreement.
  • CapFloat Consumer Loan affects your credit score negatively: This is not true. Cap Float Consumer Loan does not affect your credit score negatively if you repay your EMIs on time every month. In fact, it can help you improve your credit score by building a positive credit history. However, if you default on your loan repayment, it will affect your credit score negatively and make it difficult for you to get another loan in the future.
FeatureCapFloat Consumer LoanOther Online LoansTraditional Loans
Collateral or guarantorNoNoYes
Application processOnline through app or websiteOnline through app or websiteOffline through branch or agent
Approval and disbursal timeInstantInstant or within hoursDays or weeks
Interest rate11.99% to 36% per annumVaries from 10% to 40% per annumVaries from 8% to 24% per annum
Processing fee1% to 5% of loan amountVaries from 0% to 10% of loan amountVaries from 0% to 5% of loan amount
Loan amountRs. 10,000 to Rs. 5 lakhsVaries from Rs. 5,000 to Rs. 10 lakhsVaries from Rs. 50,000 to Rs. 50 lakhs
Loan tenure3 to 36 monthsVaries from 1 to 60 monthsVaries from 6 to 120 months
Prepayment or part-payment feeNilVaries from nil to 5% of outstanding amountVaries from nil to 5% of outstanding amount
Late payment fee2% of overdue amount per monthVaries from 1% to 4% of overdue amount per monthVaries from 1% to 4% of overdue amount per month
Credit score requirementLow to highLow to highHigh

READ MORE – Can You Get Car Loan and Personal Loan at the Same Time from the Same Bank?

FAQ’S :

How long does it take to get approved for a Cap Float Consumer Loan?

It takes only a few minutes to get approved for a Cap Float Consumer Loan after you submit your application online through the app or website.

Can I pay off my loan early?

Yes, you can pay off your loan early without any penalty or extra charges. You can prepay or part-pay your loan anytime through the app or website.

What happens if I can’t repay my loan?

If you can’t repay your loan, you should contact CapFloat customer care as soon as possible and request for an extension or restructuring of your loan. If you don’t repay your loan, you will have to pay late payment fees and charges and face legal action from Cap Float and its partner lenders. You will also damage your credit score and history and lose your eligibility for future loans.

What is the minimum and maximum amount I can borrow from CapFloat Consumer Loan?

The minimum amount you can borrow from Cap Float Consumer Loan is Rs. 10,000 and the maximum amount is Rs. 5 lakhs depending on your credit profile and loan type.

Is my information secure with CapFloat Consumer Loan?

Yes, your information is secure with Cap Float Consumer Loan. CapFloat uses advanced encryption and security measures to protect your personal and financial data from unauthorized access or misuse. It also complies with all the data privacy laws and regulations of India.

Conclusion :

CapFloat Consumer Loan is a convenient and affordable way to get the money you need for your personal or business needs. It offers various benefits such as no collateral or guarantor, fast and easy process, flexible repayment options, low interest rates, multiple loan types, etc.

However, it also has some drawbacks such as high credit risk, high interest rates for low credit scores, limited loan amount and tenure, etc. Therefore, you should weigh the pros and cons of CapFloat Consumer Loan before applying for it and use it wisely and responsibly. You should also compare your options with other loan types and choose the best one for your needs and preferences.

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