Moneyinminutes
Personal Loan

There are innumerable benefits in taking a loan from MoneyinMinutes. They are

• Timely funds guaranteed: When a loan is applied through the MoneyinMinutes Mobile app you can be certain that the loan will be disbursed within the quickest time as required by you. The time of funds credit to your account will be communicated to you through their special funding system. You need not wait for ages in expectation of the funds credit to your account. The funds will land in your account exactly as communicated.
• Lending is done with responsibility: Credit history and documents check are done to ensure that you will not land up with a monetary commitment that you cannot afford. Even though the loan application is rejected at any instance, you can still apply for a loan when your capacity to repay the loan improves.
• Total online process: The lending process is online starting from the filing of a loan application until the disbursement and so the processing and the approval of loan will be faster. You will be periodically notified about their special offers and contests through their blogs or through facebook.
• Lends affordable amount only: With an eligibility check, the company ensures that a quantum only to an affordable extent is provided so that the borrower will be able to make prompt repayments.
• Security of data: 128 to 256-bit Secure Socket Layer is applied to encrypt the data provided and so you can be rest assured that the information provided on the mobile app is totally secure. 
• Repayment: The tenure is kept at 70 days to 180 days in order to avoid keeping you burdened with a monetary commitment for a long period and also to reduce the cost on the loan. 
• Present credit profile considered: Credit history check or credit score check is done as a loan processing procedure. But in reality, the company considers the existing profile of the customer and not the past. Hence, even applicants with a bad credit history will be eligible for the loan if the present repayment capacity is good. 
• Charges: Processing charges ranging from 150/- to 5000/- will be collected based on the loan type. There will be no pre-payment or part prepayment charges and so the loan can be prepaid as and when you have surplus funds. 
• Loyalty rewards: The moment you apply for a cash loan through MyMoneyMinutes App, you will get enrolment to the MIM Club. Members of MIM Club are given loyalty rewards by way of reduced interest rates, simplified processing, and quicker availability of funds.

Personal loan through MoneyinMinutes is classified into various categories depending on the range of amount. It can be utilized for various purposes. Small cash loans serve the purpose of emergency expenses that crop up before the next payday or to make provision for compulsory utility bills payment, other loans EMI,. School fees, etc. The amount under personal loan ranges from 1500/- to 1.00 lakhs depending on the amount and the requirement.

The features of the personal loan under the various categories are as follows:

MIM Mini

Loan amount: The quantum ranges from 1500/- to 3500/-

Interest: The interest is charged depending upon the repayment time.  Interest will be charged at a flat rate. Interest will be charged at 0.35% of the loan amount.

Repayment: The maximum repayment period permitted will be 70 days. 

Charges: Processing charges ranging from 150/- to 350/- will be charged depending on the amount of loan availed. Pre-payment charges will be nil.

MIM

Quantum: The loan amount available will be between 5000/- to 30000/-

Interest: Interest will be charged at a slab rate depending on the repayment.

• 0.10% of the loan amount per day if repaid within 5 days.
• 0.25% of the loan amount per day if repaid within 10 days
• 0.50% of the loan amount per day if repaid within 15 days
• 0/70% of the loan amount per day if repaid within 30 to 70 days

Repayment: The loan should be repaid within a maximum of 70 days.

Charges: Processing charges will be collected as per the loan amount availed. There will be no pre-payment charges. 

M3M

• Quantum: A loan amount between 10000/- and 50000/- can be availed
• Interest: Interest will be charged at a flat rate at 0.70% per day of the loan amount.
• Repayment: The loan has to be repaid in 3 EMIs within 90 days.
• Charges: Processing charges will be as per the loan amount availed. No pre-payment charges will be collected.

M6M

• Quantum: A loan amount between 30000/- and 1.00 lakh can be availed.
• Interest: A flat rate of interest will be charged at 0.25% per day of the loan amount.
• Repayment: The entire loan amount has to be repaid within 180 days in 6 EMIs.
• Charges: Processing charges will be as per the loan amount availed. The loan can be prepaid without any charges.

The loan amount will be in accordance with the income of the applicant. Processing charges will be collected at the time of disbursement and the net amount after deduction of the charges will be credited to the bank account of the borrower. Applicants with a low credit score also are eligible for the MIM loans. The Company believes in the present profile of the customer and not the past. A credit score check will however, will be done, but if the existing profile of the customer is satisfactory the loan will be granted.

Follow a few simple steps to apply for a loan or credit line through MoneyinMinutes.

• Download the MoneyinMinutes App through the App Store or Google Store
• Fill up an online application form with some simple details that take only 5 minutes. Basic details like name, address, employment status, details of employer, income details, mobile number and email id have to be provided.
• Upload the required documents.
• Assessment is based on the information and documents provided. On scrutiny of the information and documents, the approval will be given within the fastest time.
• The approved loan amount will then be transferred to your bank account instantly.

The following are the documents required for the various loans through MoneyinMinutes.

The eligibility criteria for the different types of loans through MoneyinMinutes are as follows

• Only salaried individuals are eligible for a loan.
• The age of the applicant should be 18 years and above at the time of applying for the loan.
• A minimum monthly salary of 10000/- is required.
• The salary should be credited to the salary account through electronic mode regularly on the same date.

M/s Tushar Leasing and Investment Private own the MoneyinMinutes App. They have designed and developed the App. The Company is registered with RBI as an NBFC and is holding a licence to conduct financial activities.

Things you can use the instant online loan for

The instant online loan can be used for multiple purposes. Small Loans, Little Loans and Quick Loans that are a part of the personal loans are utilized for small size requirements like paying insurance premiums, rent deposit, payment of utility bills, the purchase of gadgets, for servicing of vehicles, small repairs and renovations for the existing property. The loan can be availed between 1500/- to 1.00 lakh depending on the size of the requirement.

The repayments can be made through the personal smart account that is present on the dashboard of the mobile app of the borrower. Once the payment is made, it gets automatically updated in the mobile app.

The payment can also be done through net banking to the lender's bank account. The details of the bank account of the lender will be provided through SMS or Email along with the loan application.

If the net banking of the borrower is not working for some reason, then the payment can be done through cash or by depositing the cheque to the lender's bank account. Any change in the bank details of the lender will be updated through SMS and Email.

The borrower has to upload the payment details to the lender vide email to mimcare@moneyinminutes.in. If the due date falls on a non-business day, then the payment has to be done on a day before the non-business day.

The due date will be communicated to the borrower vide SMS along with the amount due for the borrower to ensure presence sufficient balance in the account on the due date.