(Salary Setu) Loan App Pointer

(Salary Setu) Loan App Pointer is an independent, unofficial Android app: a guide with offline calculators for working out what a salary advance really costs.

What the app does

The app carries nine calculators, all offline:

• Salary advance cost — fee, GST, interest and the effective APR together.
• True APR.
• Flat vs reducing.
• EMI with full amortisation schedule.
• Prepayment saver.
• Late payment cost.
• Safe instalment.
• Payoff order.
• Cooling-off exit.

No lender's rates are built into any of them. Every figure is one you type, and nothing you type leaves the phone.

What it does not do

The app is not a lender, not a broker, and there is no application form anywhere in it. It does not offer loans and cannot be used to apply for one, does not process applications, disburse funds, check application status, or access any account. There is no login and no personal data: it never asks for an Aadhaar or PAN number, a bank account number, a password or an OTP. It is an UNOFFICIAL app, not affiliated with, endorsed by or operated by Salary Setu, Ampire Finance Pvt. Ltd., the Reserve Bank of India, the Government of India, or any lender. Trade marks are referred to for identification only.

Key facts about the programme

• A salary advance is short-tenor credit, usually cleared in one payment on payday, so a charge that looks small in rupees becomes large once annualised.
• Upfront charges are commonly deducted from the disbursal, so the amount credited is smaller than the amount the interest is calculated on.
• GST is generally charged on the fee rather than the interest, so a quoted fee is not the whole fee.

All figures are estimates for planning only, not a quotation or an offer of credit. Disclosure rules and cancellation rights change over time, so treat any figure here as provisional. Apply only through the lender's own official channel, and read the Key Fact Statement and sanction letter. The regulator publishes its circulars at https://www.rbi.org.in. Where anything here disagrees with an RBI circular, or with your own loan documents, those documents are what count. Not financial, tax or legal advice.