1. OVERVIEW
- App Name: GS Finance: Instant Loan
- Provider: GS Leasing and Finance Pvt. Ltd.
- RBI Registration: B-03.00124 (Registered NBFC)
- Loan Type: Short-term personal loans
- Process: 100% digital and paperless
- Target Users: Salaried & self-employed individuals with good credit score
2. LOAN APP DETAILS (TABLE)
| Parameter | Details |
|---|---|
| Loan Amount | ₹1,000 to ₹2,00,000 |
| Tenure | 91 days to 365 days |
| Interest Rate | 18% to 36% per annum |
| Processing Fee | Varies (Example: ₹300 on ₹10,000 loan) |
| Credit Score Check | ₹51 (Optional) |
| Credit Score Requirement | 700+ for instant approval |
3. KEY FEATURES
- ✅ 100% online paperless process
- ✅ Direct disbursal by RBI-registered NBFC
- ✅ eNACH auto-debit for EMI payments
- ✅ Transparent loan terms
- ✅ Fast approval system
- ✅ Optional credit score check (₹51)
4. ELIGIBILITY CRITERIA
- Employment: Salaried individuals (instant approval)
- Self-Employed: Can apply (1-2 days processing)
- Age: 21 to 55 years
- Credit Score: 700+ (Mandatory for instant approval)
- Documents: PAN + Aadhaar (Mandatory)
- Bank Account: Active account with income proof
5. DOCUMENTS REQUIRED
- KYC Documents:
- PAN Card
- Aadhaar Card
- Income Proof:
- Salary slips (for salaried)
- Bank statements (for self-employed)
- Bank Details: Active account for disbursal
6. CHARGES TABLE
| Charge Type | Amount/Rate |
|---|---|
| Interest Rate | 18% – 36% p.a. |
| Processing Fee | As applicable (Example: ₹300) |
| Credit Report Fee | ₹51 (Optional) |
| Late Payment Fee | As per agreement |
| Prepayment Charges | Check agreement |
7. LOAN EXAMPLE
- Loan Amount: ₹10,000
- Tenure: 3 months
- Interest Rate: 18-36% p.a.
- Processing Fee: ₹300
- Total Interest: ₹450
- Total Repayment: ₹10,750
- Breakup: Principal (10,000) + Interest (450) + Fee (300)
8. STEP-BY-STEP PROCESS
Step 1: Download GS Finance app from Play Store
Step 2: Register with mobile number
Step 3: Check eligibility & credit score (optional ₹51)
Step 4: Select loan amount & tenure
Step 5: Upload documents (PAN, Aadhaar, income proof)
Step 6: Complete KYC verification
Step 7: Approve eNACH mandate
Step 8: Receive disbursal
Disbursal Timing:
- Monday to Saturday: 10:00 AM to 6:00 PM
- Excluding bank holidays
- Next working day for approvals outside hours
9. ADVANTAGES (PROS)
- Regulated: RBI-registered NBFC (Safe & legitimate)
- Transparent: Clear cost examples provided
- Credit Score Focus: Rewards good credit behavior
- Short Tenures: 91 days minimum (Quick loans)
- Affordable Credit Check: ₹51 for credit report
- Both Employment Types: Salaried & self-employed eligible
10. DISADVANTAGES (CONS)
- Strict Credit Requirement: 700+ score mandatory
- High Interest Rates: Up to 36% p.a.
- Short Maximum Tenure: Only 365 days maximum
- Additional Fees: Processing fee reduces loan value
- Limited Disbursal Hours: Only during business hours
- Newer App: Less established track record
11. SUPPORT & CONTACT
- Email: support@gsfinance.in
- Phone: 9244565757
- Website: https://gsfinance.in
- Security: Easebuzz UPI gateway used (RBI compliant)
- Data Safety: No card/UPI credentials stored
12. IMPORTANT NOTES
- Credit Score: 700+ is non-negotiable for instant approval
- Timing: Plan applications considering disbursal hours
- Self-Employed: Expect 1-2 working days for approval
- Read Agreement: Check all terms before accepting
- Compare Rates: Research other options before deciding
13. FINAL VERDICT
Good For:
- Users with 700+ credit score
- Urgent short-term loan needs (3-12 months)
- Those preferring RBI-registered lenders
- Salaried individuals needing quick approval
Not Recommended For:
- Credit score below 700
- Need for long tenure (beyond 1 year)
- Seeking lowest interest rates
- Emergency loans during non-business hours
Safety Rating: ✅ (RBI-registered NBFC)
Cost Rating: ⚠️ (Moderate to High Interest)
Ease Rating: ✅✅ (Digital process)