1. Overview
BharatLoan is a personal loan platform operated by Devmuni Leasing & Finance Limited, an RBI-registered NBFC (Certificate No. 14.02719). The app provides digital personal loans for salaried professionals across India. The entire loan process — from application to verification and disbursal — is fully online and requires no physical paperwork.
The service aims to offer responsible and transparent credit for needs such as medical bills, home repairs, education, emergencies, and utility payments.
2. Key Features
- Unsecured personal loans (no collateral required)
- 100% digital lending process
- Transparent pricing with no hidden charges
- Loan approval based on credit profile and submitted documents
- Flexible tenure between 61 to 365 days
- Instant disbursal after approval
- Fully RBI-compliant digital lending
- Loans issued directly by Devmuni Leasing & Finance Ltd.
3. Eligibility Criteria
- Must be an Indian resident
- Must be a salaried employee
- Minimum age: 25 years
- Must have a valid PAN card
- Should have a stable salary income
- Should possess an active bank account
4. Required Documents
- PAN Card
- Identity Proof (Aadhaar / Voter ID / Driving License)
- Address Proof
- Last 3 months’ bank statement
- Passport-size photograph
All documents are uploaded digitally inside the app.
5. Charges Table (BharatLoan)
| Charge Type | Details |
|---|---|
| Loan Amount | ₹10,000 – ₹1,20,000 |
| Loan Tenure | 61 – 365 days |
| APR | Fixed at 35% per year |
| Processing Fee | Up to 2% of loan amount |
| GST | 18% on processing fee |
| Prepayment Charges | No penalty |
| Late Payment Charges | Displayed in loan agreement |
| Hidden Fees | None (as per app statement) |
| Minimum Repayment Rules | No loans requiring repayment under 60 days |
6. Loan Example (Representative Cost)
Loan Amount: ₹50,000
Tenure: 365 days
APR: 35% per year
Processing Fee: ₹1,000
GST on Processing Fee: ₹180
Amount Disbursed: ₹48,820
Monthly EMI: ₹4,998
Total Repayment: ₹59,978
Total Interest: ₹9,978
Note: BharatLoan does not offer loans requiring repayment in 60 days or less, per RBI & Google Play policies.
7. Step-by-Step Loan Process
Step 1: Apply Online
Open the BharatLoan app and fill in basic personal and employment details.
Step 2: Upload Documents
Submit PAN card, address proof, and 3-month bank statements.
Step 3: Verification
Your information is verified digitally by the loan team.
Step 4: Approval
If eligible, your loan offer appears with all charges clearly listed.
Step 5: Agreement
Review and accept the loan terms.
Step 6: Disbursal
Loan amount is transferred directly to your bank account.
8. Advantages
- Fully digital and paperless process
- Transparent loan charges
- RBI-regulated NBFC lender
- No collateral required
- No prepayment penalty
- Suitable for emergency financial needs
- Simple application process
- Approval and disbursal are generally quick
9. Disadvantages
- Only for salaried employees
- Minimum age requirement is 25
- APR fixed at 35%, which is relatively high
- Processing fee applies on each loan
- Some users complain about proactive collection calls
- Interest cost may be high for longer tenures
10. Customer Support Details
Customer Care: +91-8282824-644
Email: care@bharatloan.com
Website: www.bharatloan.com
Registered Address:
1st Floor Side-B, Plot No. 498,
Udyog Vihar Phase 3,
Gurugram, Haryana 122016
NBFC Website: https://www.devmunifinance.com/