MyMoney Loans: Fast Cash App 4.0.20

IIFL OPEN, one of India’s largest business financial solution companies, introduces MyMoney App. An app exclusively for small and medium sized businesses that offers zero-balance current accounts, personal loans & business loans, billing, accounting, GST & Taxes reports and much more. This is a top, technology backed business loan app in India with innovative online loans.

▶️ Key Features

● Instant Loan - Apply for a Business loan & Personal loan and get approval in under 10 minutes.
● Data Safety - The MyMoney business loan app ensures that your personal and investment-related details are 100% safe and secured.
● Business Banking - Manage banking, business loans & finances with just one app.

▶️ Functionalities

● Apply for a Zero Balance Current Account
● Get Instant Business Loans & Personal Loans
● Send bills/invoices to their customers/vendors
● Online Payment collection
● Send money to others

✅ Easy and Fast Setup

Get new business loans such as SME business loans and startup business loans with a user-friendly interface and navigation.

Download the instant personal loan app, create your profile, upload your KYC, and you are ready to go!

● Supported devices: Works on all Android (Android 5.0 version and above) and IOS smartphone devices.
● Location: Get online instant business loans disbursed from almost every part of India (catering to maximum locations /pin codes).
● Language: Currently available in the English language, soon to be launched in other languages.

👉 Quick Personal Loan App

● Get a personal loan online ranging from ₹2,000 to ₹5,00,000
● Attractive APR ranging from 21% - 30% makes repayment easy
● Risk-based interest rate on the personal loan, based on your profile
● Apply for a personal loan through a 100% online process with minimal documentation to ensure quick disbursal within 24 hours
● Flexibility to choose the loan tenure from up to 24 months
● Get rewarded with a higher loan on successful repayment
● Loan processing fees from 2.5% to 4%
● Minimum & Maximum period of repayment is 6 to 24 months

▶️ Example
Loan Amount: ₹20,000
Tenure: 180 days (6 months)
Interest Charged: ₹ 1,426 (24% per annum)
Processing Fee: ₹236 (2.5% of Loan Amount - ₹200 + GST @18% - ₹36)
Amount Disbursed: ₹19,764
EMI Amount: ₹ 3,571
The loan amount is ₹ 20,000. The disbursed amount is ₹ 19,764.
The total loan repayment amount is ₹ 21,426.

👉 Collateral-free Business Loan App

● Get business loans online ranging from ₹10,000 to ₹10,00,000
● Attractive (APR) Annual Percentage Rate (minimum) 11.75% - 25.75% (maximum) makes repayment easy
● Apply for a business loan through a 100% online application process with minimal documentation to ensure quick disbursal within 48 hours
● Flexibility to choose the loan tenure and repayment from 9 months to 5 years ● Get rewarded with a higher loan on the successful repayment Interest Calculation

If you avail of a loan of ₹3,00,000 for a tenure of 12 months at an 18% p.a. interest rate & and a processing fee of 2%, the loan EMI will be ₹27,504 and the total interest paid would be ₹30,048.

👉 Zero Balance Current Account (Powered by SBM)

With the MyMoney App, you can apply for a Zero Balance Current Account too.
● Sign Up to the app
● Complete your KYC
● Do your first transaction
● Activate your account

NBFC Partner - IIFL Finance Limited (Formerly IIFL Holdings Limited)

🏢 Registered Office
IIFL OPEN Fintech Pvt Ltd,
Sun Infotech Park, Road No. 16V,
Plot No. B-23, Thane Industrial Area,
Wagle Estate, Thane - 400604