MAS Wise Loan

What MAS Wise Loan is for

MAS Wise Loan is the mobile app of MAS Financial Services Limited, which the listing describes as a registered NBFC that lends directly rather than through an aggregator. It is aimed at people who want to borrow from MAS, and at people who already hold a MAS loan and need to check on it or pay it.

If you are applying, the app is where the request starts and where you follow it. If you already have a loan, it shows what you owe and what is due. Most of the listed features cover the period after a loan is in place.

Submitting a loan request and following approval

You submit a request for a new loan in the app and then track its status in real time. The listing says you can see updates at each stage of the approval process, so you are not waiting on a single outcome.

Approval timelines depend on the product, the documentation and the credit assessment. The listing gives a range from a minimum of one hour up to seven days or more.

Submitting a request does not guarantee approval. Each request goes through credit assessment, eligibility checks and MAS's internal approval. The listing also says the app does not offer instant approval or instant disbursement.

Viewing an active loan and its repayment schedule

Once a loan has been disbursed, the app shows its approved details, the outstanding balance and the repayment schedule. The listing says loan information becomes available after disbursement, so the app covers the life of the loan and not only the application.

You can also download the repayment schedule from within the app.

Making repayments and requesting NOCs or foreclosure statements

You can make repayments on active loans from the app and view a history of payments and transactions. The listing describes the payment options as secure, and the transaction history is where you would check what has already been paid.

Service requests cover paperwork that comes up during or at the end of a loan. You can ask for a No Objection Certificate (NOC) and request a foreclosure statement, which is used to settle a loan before its end date. You can also track the status of each service request.

Loan amounts, tenure and cost

The listing gives indicative terms: loans from ₹1,00,000 to ₹10,00,000, repayment tenures of 12 to 60 months, and an APR of 16% to 35%. It says the APR varies by credit profile, product and internal policies, so the rate depends on your case.

The listing also gives a reference example: a ₹1,70,000 loan over 60 months with an EMI of ₹4,792, a 23% interest rate, a 27% APR and total charges of ₹14,277. It is marked for reference only, so it is an illustration and not a quote.

Getting help with loan requests and existing loans

The app has an FAQs section and a way to contact customer support. The listing says support covers questions about a loan request as well as about an existing loan, so it applies at both stages.