* Bug Fixes
FIRST & ORIGINAL credit facility on card in India - NOW DOWNLOADED BY OVER 15 LAKH USERS in
22 CITIES
App where you get an instant virtual card or physical card, issued by SBM / RBL bank in your
pocket, which can be used to access credit facilities provided by RBI authorized NBFCs (DMI Finance
Private Limited, Redux Credit Finance Private Limited).
RedCarpet app is also CISA certified for security.
Going Krazy for credit - Slice it using Mastercard / Rupay Cards issued by SBM / RBL bank a to earn
interesting discounts & coupons on your card ! You can get cash advance by using your card
at the ATM to withdraw cash.
What you get with RedCarpet
RedCarpet partners with RBI authorized NBFCs (DMI Finance Private Limited, Redux Credit Finance
Private Limited) to provide you a credit facility that can be used on cards issued by SBM / RBL bank.
You can get credit between ₹1000 up to ₹ 60,000 based on your bureau score.
Online loans from ₹1,000 to ₹3,00,000
Interest rates - 0% to 29.95% p.a.
Tenures - 62 days to 24 months
Personal Loan for Salaried Individuals (Example)
Loan Amount: ₹50,000
Tenure: 12-months
Interest Rate: 20% p.a.
Loan Processing Fee: ₹1,250 (2.5%)
GST on Processing Fee: ₹225
Total Interest: ₹5,581 (22% annual rate on reducing balance)
Monthly Payment / EMI: ₹4,632
APR: 22.9%
Total Repayment Amount = ₹1250 + ₹225 + ₹5,581 + ₹50000 = ₹57056
Our Lending Partners :
DMI Finance Private Limited
Redux Credit Finance
Private Limited
APR for different credit products: low risk customers is 0%-36%, medium risk customers is 18%-39%,
high risk customers is 24%-42% and very high-risk customers is 24%-70%.
Why is RedCarpet special and different?
* Flexible & 100% honest - Only amount you use will incur interest. If you use ZERO, then interest will
be ZERO💰
* Zero interest if you pay balance in full by the 15th of the month !!
* Instant Virtual Card.
* Easy address proof, PAN card, ID card, salary slips, etc
* Track your spending with app & check your credit score (needs SMS perms)
* Open for students, salaried, self-employed
* you can pay minimum amount OR total outstanding balance. (interest charges will apply for min
amount)
* Card issued by SBM / RBL bank, can be used anywhere to slice your payments - Flipkart, Amazon,
restaurants, ATM cash withdrawal (For selected users) 💰
* Improve your credit scores by using the credit facility. This will be beneficial to your future job, EMI
& loans
Honest Disclosure of Permissions:
Our servers are audited for PCI and CISA compliance for data privacy and security. We NEVER move
data outside India. These are permissions we ask for:
✓ Location: to notify closest RedCarpet KYC agents. Also for fraud detection if your card
is used away from you.
✓ Contacts: for verifying your references
✓ Email - for verification of your identity
✓ SMS - to track your spending & UPI
✓ Photos & Media : We never scan private photos - Only needed to upload documents
photos for KYC
Privacy Policy - https://www.redcarpetup.com/legal/
Support?
Mail: [email protected]
DIPP Atmanirbhar Bharat Startup Registration# DIPP56299
We comply with all applicable laws including RBI Fair Practices Code when facilitating
administration or recovery of loans on behalf of NBFCs.
