Card+Credit+ATMCash

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 ₹500 up to ₹ 60,000 based on your bureau score.

Range of Fees & Charges charged by NBFC partner

The charges and repayment tenures are determined by our NBFC partners and vary based on the

score and income of the customers. All customer payments made on the RedCarpet App is directly

credited to the bank accounts of the respective NBFC.

Application Fees - between 0 to Rs.650

Processing Fee - for low risk customers 0%-3% , for very high-risk customers 2.5%-6.5% of principal

Late fees - only charged on late payment. About Rs 300 for 10,000 Rs

Repayment: Bill generated on 15'th of every month. Repay next month at no extra cost or convert it

into EMIs upto 12 months.

Interest rate: Range from 0%-29.95% with equivalent monthly interest rate of 0%-2.49% only

For personal loans, the min period for repayment = 3 months & max period of repayment = 36

months

Example for 12 months, ₹50,000/- credit facility:

-> One time Application fee = ₹350

-> Monthly subscription fee = ₹100

-> 22% interest rate yearly.

-> total interest in 12 months is ₹6,156

-> total interest + fees in 12 months is ₹7706

-> The APR is = 28.372%

-> monthly EMI = ₹4,679.72

-> Total Payments + Fees = ₹57,706

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

For more details on our privacy policy, visit - https://www.redcarpetup.com/legal/

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.