MoneyLoji

FAQs

Moneyloji (owned by Creditech Technology Pvt Ltd) is a digital lending platform for the next billion users in India. One can apply for a Salary Advance loan of up to Rs.50000. At Moneyloji, we have developed a differentiated, and personalized user experience that enables borrowers to compare rates for loans from RBI registered NBFCs and banks, and apply instantly. Our USP is the ability to disburse loans in under 5 minutes.

We believe getting a loan today should be as easy and simple as online shopping, and not tiring or embarrassing. Think of us as your trusted friend you can borrow from without hesitation. We are committed to serving you in a trusted manner and we care deeply about user privacy & data security.

To avail our services, you must download our App. We’re currently available only on Android as of now. iOS app is under development and you should be able to download the same in the next 3 months.

We are happy to help you at care@moneyloji.com for or +918447716736. We’re available 9:30 AM – 6:30 PM Monday – Saturday.

The basic eligibility criteria that you will need to meet for your loan application to be approved is to be checked on the banks’ respective websites. Alternatively, you can also use the personal loan eligibility calculator tool, which you will find on the websites of banks and financial institutions and on third-party financial services websites like BankBazaar.com.

The maximum sum of money that you will be able to borrow from Moneyloji will vary based on a number of factors. If you are a salaried employee, your monthly EMI should ideally not exceed 40% of your monthly pay. Also, the bank/NBFC will take into account if you have any existing loans for which you pay EMIs. The concerned individual’s other financial liabilities will also be taken into account. The maximum loan amount offered will also depend on the Moneyloji’s own terms and conditions.

Moneyloji allows borrowers to choose a loan tenure between 3 month and 6 month, based on their convenience.

The following documents are required when applying for a Personal Loan-

  • Proof of identity (Pan Card)
  • Address proof (Aadhaar Card, Driving License, Voter Card, Passport)
  • Proof of income (Latest 3 Month Salary Slip)
  • Latest 3 Month Bank Statements

A few things that you should consider when applying for a personal loan are as follows:

  • Interest Rates: The interest rate charged for a personal loan can go from as low as 36% p.a. to as high as 72% p.a., based on the Moneyloji’s terms and conditions and your credit score. The interest rate makes a substantial difference to the cumulative cost of the loan.
  • Repayment Flexibility: Make sure to check if the lender allows part-payments or prepayments and if there is any penalty levied for making the payment.
  • Processing Fee: Even if you are offered a low interest rate, a high processing fee could bump up the cost of your loan.
  • Customer Service: Moneyloji has sufficient customer care channels for you to reach us on. Moneyloji also answers your queries in a prompt manner.
You can reduce the EMI for a personal loan by improving/maintaining a credit score(Crif Score) over 700. If you have a good repayment history with the previous loan, you can negotiate for a better interest rate or a relationship discount.
Moneyloji may allow you to prepay the loan amount, based on respective terms and conditions mentioned in the loan agreement. It is likely that you will be charged a prepayment fee. Thus, if you intend to prepay your loan during the loan tenure, make sure to pay the full outstanding amount.
If you are a pre-approved customer, the loan amount will be disbursed to your account in 24-48 hours. If you apply through third-party financial services apps like Faircent, Upwards & Insta Money, your loan amount will be disbursed in a timely manner once your application is approved.
You can check your eligibility by downloading the Moneyloji app and filling the details for a personal loan application. Once your eligibility has been calculated by our system, we will show you the amount & tenure of your loan.
Absolutely! You can re-apply after 90 days from the application date. However, we recommended you apply only after taking corrective action on the points highlighted in your first attempt. Your loan application will only be considered if your profile qualifies the underwriting parameters specified by our lending partner.

Yes, your loan application can be considered, with earlier employment details and documentation. Minimum employment criteria for a loan is 6 Months.

While following the auto-pay schedule is recommended you are free to pay your EMIs anytime you want. To do so, select your drawdown from the “Pay Now” Tab. You have to maintain sufficient balance in your account for 24-48 hours to complete the Auto-pay schedule.

There is a flat processing fee of Rs 499+ GST (for loans between Rs 10k–Rs 29k) and Rs. 799 + GST (For loans more than 30k–50k). However, there is absolutely no fee for downloading the app and getting approval. However the registration fee is Rs. 99+GST and if your loan is approved this amount is adjusted against the processing fee.

You can find it by clicking on the Loans sections and click on your existing Loan line. The repayment period start after 30 days from the loan agreement. You can find your loan schedule in the loan agreement. There will be no provision of change in the emi schedule after signing the loan agreement as you bind to agree the term & condition of the agreement.

Penal Charges: You will be charged 0.6% penal charges on the overdue amount if you miss your emi’s. These charges increases on day to day basis.

No. We only support loan repayments through the Moneyloji app via Debit Card, Net-Banking, UPI, Bank Transfer, Paytm Wallet or Paytm QR Code. If you are facing any issue while repaying your loan, kindly write to us an email on payment.assistance@moneyloji.com and we shall look into it asap.

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