Money Loan

Instant personal loan upto 1 lakh for 60 days to 24 month at 0-2.50 per month

Loans range from 10000 to 100000
Tenure 60 days to 24 months ,interest rates range from 0%-29.95% depending on risk profile of customer and product availed
Example : if loan amount is 50000 and interest is 22% per annum with tenure of 12 moth and 24 month per annum with tenure of 65 days ; after deducting any other fees
Interest =50000×22%/365×65=1860

Money Loan is an interest personal loan app &credit platform for young professional across India,where one can apply for personal loan online &avil up to 1 lakh as direct cash Transfer to bank account

Loan Types

Flexi Personal Loan- A flexible loan option where you can avail loans within 10 minutes of app install as direct bank transfer all you need is your PAN card ,ID & ADDRESH proof ,and can avail from 1000 to 50000 tenure 65 day to 24 month .

Personal loan for salaried -A personal loan option where you can avail amounts from 10000 to 1 lakh as direct bank transfer for a tenure ranging from 65 day to 24 months.All you need is your PAN card ID ADDress proff and salary proff Online purchase loan -A loan option where you can Buy anything Now ,pay later in EMIs.


Features

1. 100% online process
2. Minimal documentation
3. Fast approval
4. Immediate bank transfer


Benefits & Risks

1. Get access to higher amounts & tenures as you repay on time
2. As compliance requirement you payment behaviour is shared with credit rating agencies based on that your credit score may increase / decrease

Eligibility

1. Indian resident
2. Above the age of 21 years
3. Should have monthly source of income


How to get started

1. Install Money Loan App
2. Register through your mobile number
3. Fill your basic details to check forest level eligibility
4. Upload KYC documents-ID, Address Proff & PAN card
5. Avil loan as bank transfer

Amount ,Tenure , Fees & Charges

Loans amount: 1000 to 100000, Tenure: 65 days to 24 months. Money Loan charges one-time service fee while onboarding or during upgrade membership band availed by customer. Interest rates range from 0%-2.49% only.A small processing fee is charged for loans e.g for low risk customers 2.5%-6.5%*. The charges and repayment tenures vary based on creditworthiness and repayment ability of customers .

Penalty is charged only when someone delays their scheduled payment.

The APR for different product is separate as per the risk profile of the customers. The APR for different personal loan 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%*.

In addition to it ,GST will be applicable only on the fee components as per Indian laws.

*The higher charges are only for loans of lower amount and lower repayment tenure

Example

A new low risk customers avaling personal loan for salaried can avail a loan of 50,000 at an interest rate of 22% processing free of 1,250 for a peiod of 12 months and onboarding fees of 282. This would translate to APR 25.2%

Interest calculation

If loan amount is 50,000 & interest 22% per ann; and loan is to be repaid over 12 EMIs, then overall interest payable is 6,157 only.The EMI per month would be 4,680

Contact us

1. loanfast89@gmail.com


Address :
Office no 334, floor no 21, park plaza, palace road, Faridabad, Haryana - 121102