100k.mn is a finance app for applying for micro consumer loans intended to cover short-term financial needs. It presents loan amounts from 50,000 to 300,000 and allows the applicant to select an amount that fits their stated requirements and repayment capabilities.
Applying for a micro loan
The application is described as a quick, convenient process that can be completed within minutes. The supplied information does not specify the individual application steps or approval criteria, but it states that users can submit a request through the app and receive funds after successful approval.
When an application is approved, the loan amount is transferred to the designated bank account within 24 hours according to the app description. The actual transfer time may vary because the source notes that processing depends on the policies of the recipient's bank. This timing applies after approval rather than to the full application process.
Amount, duration, and interest terms
The available principal range is 50,000 to 300,000. The maximum loan period is 30 days, making the product a short-term borrowing option rather than a long-term repayment arrangement. Applicants are advised in the supplied information to consider both the amount requested and the repayment period before submitting an application.
The listed interest rate is 0.2% per day. The description also states that no interest is charged when the loan is repaid within the first five days. These terms should be read together with the specific conditions presented during the application, since the source does not provide a separate calculation example or a complete fee schedule.
Repayment and information handling
Early repayment is permitted without a stated penalty, and the description encourages timely repayment to avoid additional interest charges. Loan-period extensions are not currently available according to the supplied FAQ, so borrowers should choose an amount and term they can repay within the stated period.
The app description says that customer information is covered by a customer-company confidentiality agreement and will be used solely for loan services. This is the developer's stated information-handling policy; the source does not provide further technical details about data storage, encryption, or security controls.