| Interest Rate | 31% |
| Duration | From 14 Days |
| Access Level | Public |
| Company Name | Ganesh Leasfin |
| Phone 1 | +91-8447716736 |
| Phone 2 | |
| Website or Store | |
| Address | 901, 9th floor, DLF City Court, Sikanderpur, Gurugram, Haryana 122002 |
| Category | Dangerous Loan |
| Company Email | Care@Moneyloji.com |
| Views | 102 |
Are you in search of an unsecured personal loan? Look no further! MoneyLoji is here to meet your credit needs with a 100% digital process, offering loans of up to ₹1 Lakh through RBI-registered NBFCs. With the best personal loan app in India, you can check your loan eligibility instantly, know your credit score, and enjoy a seamless borrowing experience.
Loan Details and Rates
Loan Amount:
- ₹10,000 to ₹50,000
Interest Rates:
- 1% to 2.5% per month
Annual Percentage Rate (APY):
- Up to 36%
Processing Fees:
- Minimum ₹499 + GST to Maximum ₹799 + GST
Tenure:
- 62 days to 12 months
Penalty Charges:
- 0.6% per day of the overdue EMI
- Bounce Charges: ₹750 to ₹1,000 on non-repayment of EMIs
Example Product: Salary Advance Loan
- Loan Amount: ₹30,000
- Tenure: 180 days (6 months)
- Interest Rate: 0.15% per day (54% on reducing principal balance)
- Processing Fees (including GST): ₹943
- EMI: ₹5,816
- Total Interest Payable: ₹4,898 (calculated as ₹5,816 * 6 - ₹30,000)
- Disbursed Amount: ₹29,057 (₹30,000 - ₹943)
- Total Amount Payable: ₹34,898 (₹5,816 * 6)
- Total Cost of the Loan: ₹5,841 (Interest Amount + Processing Fees)
Why Choose MoneyLoji?
- Interest rates starting at 1.49% per month!
- Instant eligibility check for your loan.
- Loans up to ₹1 Lakh available.
- Loans provided through RBI-registered NBFCs only.
- Instant bank transfer within 30 minutes upon loan approval.
- Minimal documents required.
Partner NBFCs:
- Ganesh Leasfin Private Limited
- Transactree Technologies Pvt Ltd
- Charm Investments Private Limited
Loan agreements will be in the name of one of these lenders, with MoneyLoji acting as a technology facilitator.
Eligibility Criteria
To qualify for a loan, you need to meet the following criteria:
- Minimum Credit Score: 600
- Employment: Salaried professionals with a minimum salary of ₹20,000 per month
- Financial Health: Healthy FOIR (Fixed Obligations to Income Ratio) / positive monthly eligibility
- Documents: Valid PAN Card, Aadhaar Card, photo and address proof, latest bank statement (last 3 months), latest salary slip or offer letter
- Location: Should not be in a negative pin code list
How to Apply?
- Download the MoneyLoji App: Available on your mobile app store.
- Fill in Your Profile: Provide basic profile and employment details.
- Upload Required Documents: Submit the necessary documents and details.
- Sign the Loan Agreement Online: Complete the digital signing process.
- Provide References/Guarantor: Offer two references or one guarantor.
- Complete eNACH/e-Mandate Registration: Authorize the electronic process.
- Loan Disbursement: Receive your loan within 30 minutes of approval.
App Features
- Instant Eligibility Check
- Fast Online Application
- Free Credit Score
- EMI Calculator
- Refer & Earn Program
Loan Products
- Salary Advance Loan:
- Amount: ₹10,000 to ₹50,000
- Processing Fees: ₹499 + GST
- Tenure: 62 days to 6 months
- APY: Up to 36% depending on risk profile
- Operational States: Chandigarh, Delhi, Goa, Haryana, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Pondicherry, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand
- Jumbo Loan:
- Amount: ₹50,000 to ₹1,00,000
- Processing Fees: ₹799 + GST
- Tenure: 6 to 12 months
- APY: Up to 36% depending on risk profile
- Operational States: Chandigarh, Delhi, Goa, Haryana, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Pondicherry, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand
With MoneyLoji, you can access a wide range of personal loan options tailored to meet your financial needs. Download the app today and take advantage of instant loans, flexible repayment options, and minimal documentation requirements. Take control of your finances with MoneyLoji!
Expert Counsel
Loan apps provide quick and convenient access to credit with minimal documentation and fast approval. However, they often come with high-interest rates, hidden fees, and predatory practices. Here's a detailed guide to help you manage and avoid the pitfalls of loan apps.
How to Avoid Loan Apps
- Build an Emergency Fund:
- Save 3-6 months' worth of expenses to avoid the need for quick loans.
- Create a Budget:
- Track your expenses, prioritize needs over wants, and allocate funds wisely.
- Explore Alternative Credit Sources:
- Consider banks, credit unions, or peer-to-peer lending platforms that offer more favorable terms.
- Improve Your Credit Score:
- A good credit score can help you qualify for lower-interest loans.
- Avoid Unnecessary Expenses:
- Cut back on discretionary spending to reduce the need for loans.
Precautions When Using Loan Apps
- Read Terms and Conditions:
- Understand interest rates, fees, repayment terms, and penalties.
- Check Lender Legitimacy:
- Research the lender's reputation, licenses, and regulatory compliance.
- Borrow Only What You Need:
- Avoid taking more than necessary to minimize debt.
- Set Realistic Repayment Expectations:
- Plan to repay on time to avoid penalties and interest.
- Monitor Your Credit Report:
- Ensure loan app activities are accurately reflected.
How to Repay Loan Apps
- Prioritize Repayment:
- Pay on time to avoid penalties and interest.
- Create a Repayment Plan:
- Break down debt into manageable installments.
- Use Automatic Payments:
- Set up automatic transfers to ensure timely payments.
- Consider Debt Consolidation:
- Merge multiple debts into a single, lower-interest loan.
- Communicate with Lenders:
- Inform them of financial difficulties to negotiate payment extensions or reductions.
What to Do in a Financial Crisis
- Seek Professional Help:
- Consult a financial advisor or credit counselor.
- Prioritize Essential Expenses:
- Focus on necessities like food, rent, and utilities.
- Negotiate with Creditors:
- Discuss payment extensions or reductions.
- Explore Government Assistance:
- Look into programs like unemployment benefits or financial aid.
- Consider Debt Restructuring:
- Work with a credit counselor to reorganize debt.
Red Flags to Watch Out For
- Exorbitant Interest Rates:
- Rates above 36% APR are considered predatory.
- Hidden Fees:
- Look out for origination fees, late fees, or prepayment penalties.
- Unclear Repayment Terms:
- Ensure you understand repayment schedules and amounts.
- Lack of Transparency:
- Be wary of lenders with unclear or misleading information.
- Aggressive Marketing:
- Be cautious of lenders with pushy or deceptive marketing tactics.
Additional Tips
- Regulatory Bodies:
- Familiarize yourself with local regulatory agencies, such as the Central Bank of Nigeria, to report suspicious lenders.
- Loan App Reviews:
- Research reviews from multiple sources to gauge lender reputation.
- Financial Education:
- Continuously learn about personal finance and responsible borrowing.
By staying informed and cautious, you can navigate loan apps wisely and make better financial decisions. Always prioritize your financial well-being and make choices that align with your long-term goals.
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