Quiklo is an online platform which provides a Website and a Mobile App to enable students to buy products on EMI without a credit card.
Electronic Devices such as Smartphones, Laptops, Cameras, Tablets and more are available on Quiklo. We are working hard to add more products on our platform.
You can browse the products available on our website or paste the URL of any product on Flipkart or Amazon and we will help you get the product on EMI.
Quiklo is the only platform which offers EMI options to students, our approval and fulfillment process is the fastest and we provide the best interest rates for the EMI scheme.
Definitely, Quiklo partners with reputed NBFCs and Banking Partners to provide Loans, which have access to CIBIL. Your payment behavior gets reflected in your CIBIL score, which enables you to avail Credit Cards and more Loans in the future. In a way, Quiklo is making you financially responsible and setting you up for your future credit needs.
You must be an Indian citizen, over 18 years of age and studying in a College to be able to apply for a Loan.
We are operational in Bangalore, Chennai, Pune, Mumbai and Hyderabad right now. We plan to expand to more cities very soon. We appreciate your patience :).
While we prefer Aadhar card as it makes the Loan process 2x faster, we do not stop you from taking a Loan if you don’t have one. The process just gets a bit longer :).
As you might know by now, Quiklo helps you buy products on EMI without a credit card.
We have received your Application from either the Website or Android App. Your Application needs to be complete with documents to be ready for Verification. Check more on Loan Application below.
We will process your Loan Application to check for your eligibility. This includes running algortihms on your Application and calling you up for verification. Check more on Approval process below.
Viola, this means that your Order is ready. At this point, you will have to make the down payment for the Loan and sign a few documents pertaining to the Loan. Read more about fulfillment below. The order gets ready in 2 days. Online Orders might take an extra day or two.
Quiklo provides a rich catalogue of Products on its App and Website. You can browse our Catalogue to search for your product. In case you do not find a product, just enter the URL or Product Name and apply, and we will take it forward from there.
You can take a loan for any amount between ₹10,000 and ₹30,000. If you wish to avail a loan higher than ₹30,000, the process will involve a few extra steps to ensure that you are eligible for the said amount.
The down payment is decided by the complex algorithms we run in the background to judge your eligibility. As a thumb rule, 10% of the product amount is the minimum down payment you need to make. For products costlier than 30,000, the down payment is the amount in excess of 30,000.
You can take a loan for a minimum of 6 months and a maximum of 12 months.
Yes, we charge a minimal processing fees for your loan request.
Yes, our backend algorithms determine the tenure and down payment you are eligible for. Hence, they can be different from what you applied for.
KYC documents (Govt. provided Id Proof and Address proof) and your College ID are the minimum documents needed to apply.
We judge your Loan eligibility using complex algorithms, which includes verification calls and background checks. Please be prepared to receive calls and notifications from Quiklo once you have applied for a Loan.
Interest rate would depend on our credit risk assessment for you based on various parameters. This is determined by our backend algorithms.
Depending on your availability and the completeness of your Application, the Approval can be done within a day to 2 days. You need to respond to our request in a timely manner for fast approvals.
We reject your Loan application in case our algorithms perceive a fraudulent application or lack of affordability from your end to pay the loans. In case of the latter, we will recommend you options like a cheaper product or a longer tenure to help you out.
Depending on your loan amount or risk assessment done by our backend algorithms, we might ask you for more data\documents to allow us to approve your loan.
We will inform you about the Loan Approval and the availability of your product. You then need to make the down payment, sign the necessary documents and take your product.
Yes, we are very particular about the end use of the Loan amount. So you will only get the product for which you had applied for.
In case of non-exclusive products, fulfillment can be done within 2 days. For exclusive products available on Online websites, the timeline is determined by the time take by the website for delivery.
We do not have a returns policy as of now. Items once purchased cannot be returned.
We only replace items if they are defective or damaged. You need to check the product at the time of delivery and inform us immediately in case of a damage or a defect. Exchange is not possible at a later stage.
You can repay using Wallets, UPI, ECS, Online Transfers and Bank Deposits.
ECS is automated funds transfer where we debit the EMI from your Bank Account on the due date. This process is very simple and hassle free. You just need to give us the mandate for the debit and ensure that the EMI amount is in your bank on the due date.
While we allow you to pay your EMI in Cash, you will be charged an additional fee if you decide to do so.
Yes, we want you to pay on time and become financially responsible. We will charge an additional fee in case of delayed payments, the amount is determined by the EMI and delay in payment.
There will be no prepayment penalty provided a minimum repayment schedule of 3 months has been followed.
We will try to remind you to repay, if you still fail, our banking partners will report your case to CIBIL which will make it impossible for you to get credit cards and future loans. Additionally, we will have to collect back your product, something which we do not want to, but we will have to.
Please get in touch with us, we will listen to your case, and try to help you out in the best possible way.