1. Overview
BrightLoans is a personal loan service offered by DEV-AASHISH CAPITAL PRIVATE LIMITED, an RBI-registered NBFC (CoR No. B-14.01763). The app allows salaried individuals to apply for digital, paperless loans ranging from ₹10,000 to ₹1,20,000 with clear charges and no hidden fees.
BrightLoans follows RBI’s digital lending guidelines and offers a transparent, secure borrowing experience.
2. Features
- Loan amount from ₹10,000 to ₹1,20,000
- Tenure options from 61 days to 365 days
- Fixed APR of 35% per year
- Completely online process
- No physical documents required
- Paperless verification and approval
- No collateral or guarantor needed
- No prepayment penalties
- Transparent charges shown before approval
- Money transferred directly to bank account
3. Eligibility
- Must be an Indian resident
- Must be a salaried employee
- Minimum age: 25 years
- Should have a valid PAN card
- Must have an active bank account
- Should have stable monthly income
4. Required Documents
- PAN Card
- ID Proof (Aadhaar, Voter ID, etc.)
- Address Proof
- Last 3 months’ bank statement
- Passport-size photograph
All documents are uploaded digitally within the app.
5. Charges Table (BrightLoans)
| Charge Type | Details |
|---|---|
| APR | 35% per annum |
| Loan Tenure | 61 – 365 days |
| Processing Fee | Up to 2% of loan amount |
| GST | 18% on processing fee |
| Prepayment Charges | None |
| Penalty | Depends on overdue amount (shown in agreement) |
| Other Charges | None (transparent pricing) |
6. Loan Example
Loan Amount: ₹50,000
Tenure: 365 days
APR: 35% per year
Processing Fee: ₹1,000
GST on Fee: ₹180
Amount Disbursed: ₹48,820
Monthly EMI: ₹4,998
Total Repayment: ₹59,978
Total Interest: ₹9,978
7. Step-by-Step Process
- Download BrightLoans app.
- Register using mobile number and fill profile details.
- Enter employment and income details.
- Upload PAN, ID proof, and bank statements.
- System verifies your details securely.
- Loan offer is shown with charges and EMI details.
- Accept the agreement.
- Loan amount is credited to bank account.
8. Advantages
- Higher loan amount compared to most instant loan apps
- Transparent charges with no hidden fees
- Paperless application
- Regulated under RBI norms
- No prepayment charges
- Suited for salaried individuals needing mid-size loans
9. Disadvantages
- Only for salaried employees
- Minimum age requirement is 25 years
- APR is on the higher side (35%)
- Processing fee applies on every loan
- Not available for self-employed users
10. Support Details
Phone: +91-8800041445
Email: care@brightloans.in
Website: https://brightloans.in
Address: First Floor, Plot No 498, Udyog Vihar Phase 3, Gurugram, Haryana 122016