FAQ

Click the link and you will know what our Money In Minutes little cash loan will cost you. You can also view our Charges page and Calculator.

We offer cash loans in the range of 1000 to 2,00,000.

Once you have fully repaid your loan, you can apply for another loan and get lower interest rates than before. Also, once you become an existing customer, you don't need to fill out the application form each time you want to take a loan, thus saving a lot on time as well.

Borrower can avail a loan amount ranging from 1000/- to 10000/- under this product with a loan repayment period ranging from minimum 62 days and maximum 70 days.

Disbursement under this product will happen in single tranche in Borrower's bank account.

Borrower can avail a loan amount ranging from 10000/- to 15000/- under this product with a loan repayment period ranging from minimum 62 days and maximum 70 days.

Disbursement under this product will happen in single tranche in Borrower's bank account.

Borrower can avail a loan ranging from 10000/- to 25000/- under this product with a loan period of three months.

Disbursement under this product will be done in single tranche.

Borrower must repay this loan in three EMI's.

Borrower can avail a loan ranging from 10000/- to 40000/- under this product with a loan period of four months.

Disbursement under this product will be done in single tranche.

Borrower must repay this loan in four EMI's.

Borrower can avail a loan ranging from 15000/- to 50000/- under this product with a loan period of six months.

Disbursement under this product will be done in single tranche.

Borrower must repay this loan in six EMI's.

Borrower can avail a loan ranging from 15000/- to 100000/- under this product with a loan period of Twelve months.

Disbursement under this product will be done in single tranche.

Borrower must repay this loan in twelve EMI's.

Borrower can avail a loan ranging from 50000/- to 200000/- under this product with a loan period of Twenty four months.

Disbursement under this product will be done in single tranche.

Borrower must repay this loan in Twenty four EMI's.

Fees and Eligibility

The Borrower shall be liable to pay the Lender a processing fees as per the slabs given below ("Processing Fee"). Lender reserves the right to change the amount of Processing Fee at any time however the same would not apply retrospectively to Loan already availed by Borrower. Applicable fees is exclusive of GST.

The Processing Fees shall be deducted upfront at the time of Disbursement of the Loan Amount.

In personal loans at any point Borrower cannot mix two loans of different products under the eligibility. Ex. if Borrower is eligible for Rs30,000, borrower cannot have outstanding amount in M4M, M6M and MYM loan at the same time.

Borrower can not avail multiple loan, Fresh loan will only get disbursed once current outstanding is completely paid off and loan is closed.

The Borrower shall be solely liable to bear and pay to the Lender all costs, stamp Duty charges and expenses incurred by the Lender in connection with this Contract, any other documents including but not limited to all costs, charges and expenses incurred for enforcing any provision thereof or recovering any amount payable by the Borrower, all costs of creation, enforcement, realization (or attempted enforcement and realisation) of any Amounts Due, including stamp duties (including penalties thereof), all document charges, legal fees, holding costs, registration charges and court fees; any bank charges and charges for dishonoured cheques; and the Borrower shall pay the same to the Lender forthwith on (and in any event within 3 (three) Business Days) of demand by the Lender. In any such cases, the Borrower shall be blacklisted and no further Loan sanction or Disbursement Request shall be entertained by the Lender.

The Borrower agrees that he is liable to pay the stamp duty, other fees as applicable on all the documents/ instruments executed by and between the parties or any of them pursuant to the Loan granted by the Lender to the Borrower including but not limited to the Contract and keep the Lender indemnified against all loss, costs, charges and expenses that may be suffered or incurred by the Lender by way of any direct or indirect taxes such as service tax, transaction tax, stamp duty or other fees of any nature.

Additionally, the Borrower shall also be liable to make payment of all costs, charges, expenses including interest and penalty, if any, payable as a result of non-payment or payment of deficient stamp duty on any of the aforesaid documents, including but not limited to this Contract and all legal costs as between the attorney and clients on a full indemnity basis.

Once your loan has been approved by us, your only responsibility will be to ensure that you pay us back on time, either you can transfer the funds on your due dates. These dates are set in collaboration with you and they are listed in your loan contract and sanction letter.

In order to help you remember these dates, we will send you a reminder SMS, e-mail or a phone call a few days prior to the due date. If at any time you are not confident about fulfilling your responsibilities in repaying the amount by the repayment date, we request that you call us to discuss all the options available to you. The earlier you do this, the better it will be as we want to help you meet your responsibilities as comfortably and stress-free as possible.

In addition to any general lien or similar right to which the Lender may in law generally be entitled, the Lender may at its discretion use and enforce its right of set off and cross default between all the Loans Amount sanctioned to the Borrower.

The Borrower's default under this Loan shall be deemed to be a default of all the other Loans availed by the Borrower, and notwithstanding anything contrary elsewhere contained in any writing or otherwise, the Lender shall regard all borrowings by the Borrower as immediately due and payable and the Lender shall be entitled to recall all the Loans granted to the Borrower

The Lender may, in its absolute discretion, and notwithstanding any direction by the Borrower to the contrary, (i) appropriate any payments made by the Borrower towards repayment of any part of the Amounts Due by the Borrower under the Loan as the Lender in its discretion thinks fit; and (ii) appropriate any payments made by the Borrower pursuant to this Contract towards any Indebtedness of the Borrower, and such appropriation shall be final and binding upon the Borrower who shall continue to remain indebted to the Lender for payment of the dues under this Contract in respect of which such sum of money were paid by the Borrower.

On the happening of any of the Events of Default, the Lender shall be entitled, without prejudice to any other right or remedy which the Lender may have under this Contract or otherwise in Applicable Law and notwithstanding any subsequent acceptance of any repayment of the Loan Amount including the interest and penalty thereof, take any of the steps specified hereinbelow without any notice, except as specified herein, at any time after the occurrence of such event: by a notice to the Borrower, to terminate this Contract and/or declare the Amounts Due, due and payable forthwith.

The Lender and/or Moneyinminutes.in may use Borrower's personal and public details (including friend list, employer of borrower) to publicly announce the fact about Borrower's default with Borrower's details on its Website as well as Borrower's social media pages, other social media platforms and other avenues. Lender may use electronic medium, automated pre-recorded calls at any hour of the day to remind borrower of his dues. Borrower expressly grants his irrevocable and unequivocal consent to such publishing of fact of default by Borrower on his social networking pages and other media and further acknowledges and confirms that the same will not be construed as a 'defamation' and hereby expressly indemnifies Lender against any suits, claims or actions against lender for defamation.

Borrower exercise and enforce all rights and remedies available to the Lender under this Contract and in Applicable Law for recovery of monies from Borrower.

Borrower exercise and enforce all rights and remedies available to the Lender under this Contract and in Applicable Law for recovery of monies from Borrower.

Appoint/nominate any Agency, law firm or person to legitimately recover default amount from the Borrower.

All expenses incurred by the Lender after an Event of Default has occurred including in connection with collection of Amounts Due shall be payable by the Borrower.

Notwithstanding any suspension or termination of this Contract as specified hereinabove, all the provisions of this contract for the benefit or protection of the Lender and its interests shall continue to be in full force and effect as specifically provided in this Contract.

If you are not able to repay the money on the repayment dates that are detailed in your loan contract, then the amount of money you owe us can increase. That is why we work closely with you to ensure that the loans we give you are suitable for your budget and your pay cycle.

The Lender shall levy a Delayed Interest at 0.10% flat (36.50% per annum.) for each day after the due date. Please refer mentioned for illustration on calculation of Delayed Interest.

The Borrower acknowledges that the rates of Interest and of Delayed Interest agreed to by the Borrower are reasonable and the rates of Delayed Interest represent pre-estimates of losses and damages expected to be incurred by the Lender due to the non-payment of dues by the Borrower on or before the Due Date. The Borrower acknowledges that the Loan is a commercial transaction and specifically waives any defence under usury or other Applicable Laws relating to or restricting interest.

If Borrower fails to repay his loan within approved period, he will be liable to pay interest as applicable as specified above from the date of original sanction period. If the Borrower fails to repay within due date, he will be liable to pay a 0.10% flat per day Interest (36.50% per annum) for each day thereafter.

Following is an Illustration on the Interest Amount and Delayed Interest for a loan amount of INR 10,000/-.

Eg. LOAN SANCTIONED FOR 70 DAYS.

Applicable ROI for 70 days on 10000/- is 0.15% flat per day (54% p.a)

First EMI payable is 4735 if delayed & paid after 10 days penal interest charged @0.10% of 4735 i.e. Rs. 47.35/-

Repayment would be 4735+47.35 = 4782

If Borrower fails to repay within his sanctioned period of 70 days then he is liable to pay next applicable rate of interest on the principal amount from sanctioned date.

Eg. Loan amount of 10000/- sanctioned for 3 months.

Applicable ROI for 90 days on 10000/- is 0.11% flat per day (42% p.a)

First EMI payable is 3664 if delayed & paid after 10 days penal interest charged @0.10% of 3664 i.e. Rs. 36.64/-

Repayment would be 3664+36.64 = 3700

eg: If Borrower delays his EMI by 10 days then penal interest will be charged on the EMI amount over and above the applicable interest rate.

The processing fee is charged separately on the loan.

The interest shall be calculated from the Date of Disbursement of the Loan. The Date of Disbursement shall be deemed to be the date when the Lender provides instructions to its Banker for transfer of Loan Amount to the Borrower.

The determination of Interest and Processing Fee by Lender, from time to time, shall be final and conclusive and shall be binding upon the Borrower.

Applicable Processing fees, loan interest, taxes ( eg GST),shall be payable by the Borrower and will upfront be deducted from the disbursement amount.

The Borrower shall, if so required by the Lender, deliver post-dated cheques or ECS Mandate or e Mandate ( Auto Debit) RTGS or NEFT Mandate to the Lender for the due payment of the Interest on the Loan thereon.

The Lender shall have at its absolute discretion the right to vary the rate of Interest/ other charges (including Delayed/Penal Interest Rates) applicable to the Loan from time to time.

It is clarified that such variation shall be effective from the date of such variation in the books of the Lender and not from the date of notice/receipt of notice by the Borrower.

During your application process, we will work out a repayment schedule that is comfortable for you. This will be seen as you can directly transfer the repayment amount in our account on the repayment date. Once your loan is approved, these dates are listed on your loan contract and sanction letter. We will be sending you an SMS, e-mail or a phone call a few days prior to the repayment date to help you remember and ensure that you don't miss your repayment date.

We have designed our rate slabs keeping in mind the different needs of our customers. If you choose a shorter tenure the lesser you have to pay us back, but in case you miss the date your repayment amount will be calculated on the basis of your repayment date and accordingly our calculator will calculate the amount

• 1. You can view your foreclosure details in 'My Loan' TAB of your mobile app dashboard by clicking on your live application ID with us.
• 2. You can also get the foreclosure letter of your loan account by just giving a missed call from your registered mobile number to 08030459768.

We are transparent from start to finish and ensure you get all the information regarding the fees, charges, our services, etc. We let you make the decision based on the facts.

The fact is, if you are looking for a lightning fast, cheap, and online cash loan in the range of five thousand rupees to one lakh rupees, which you are sure to repay on each repayment date, and appreciate being treated in a discrete and friendly way, then we are the people for you.

Our loans are just right for any kind of small cash shortfall that can crop up in life from time to time and which can easily be paid back in your next pay cycle. This is a short-term solution that does not become a long-term problem like what happens when you take loans from banks.

Just fill in our simple application form that takes just 5 minutes to fill and we will do the rest. We give you a decision quickly about whether you are approved or not. Once approved, we also give you the time to expect funds in your account.

Once your loan is funded, all you have to do is ensure there are sufficient funds in your account to pay us back on the scheduled date. We will remind you of this date with an SMS, e-mail or a phone call a few days prior.

We provide instant help for the unexpected expenses that life can throw your way. You don't have to go through the hassle of taking a loan from a bank, which involves long queues, long approval times, and longer transfer times.

We consider all our customers as our close friends and treat you as discretely and confidentially as we would treat them. You will have no hesitation to recommend us to your friends and family.

Not long at all. In fact, when you give us your bank statement ASAP and everything else is in perfect order, our system will give you a quick decision and if approve the money is sent to you. Borrowing from us is just like borrowing cash from your best friend, who wouldn't make you wait around for any so-called approval decision! We don't behave like a bank, but more like your best friend! That's why we don't make you wait because we know how badly you need the cash right now!

We pay your cash loan directly into the bank account nominated by you once approved. We are also the first lender in India who will tell you exactly when you can expect the funds in your account.

We will transfer the cash into your account as soon as you have been approved for the loan. After we do this, it is over to your bank to process the incoming funds into your account according to their policy.

If you do not have a bank account with the major banks, we will still transfer the funds instantly after approval, but your bank may take 24-48 hours to reflect it in your account. Even though we have tried to speed up this process, there is nothing we can do about the delay.

We have put in a lot of time and effort to create a system that gives you the fastest decision in the shortest time. Just like any other lender in India, though, we do need to have a quick look through your bank transaction history, but this can be uploaded to our mobile app in seconds or sent to us by emailing it at mimcare@moneyinminutes.in. During your application process, you will have to provide your salary account bank statement. Feel free to contact us at mimcare@moneyinminutes.in

Unlike other lenders, we do not turn you away just because you were late in paying your credit bills a few years ago. As part of our responsible lending policy, we do check your credit history though, but we do not hold this against you, if it is less than stellar! We make assessments based on your present, not on your past. So don't worry if you have a past default history. We may still be able to help you out.

Although we need to sleep, just like everyone else, our system doesn't, and that's good news for you!

No matter what time of the day or night you apply, our system will provide you with your loan contract number, but we still need to go over your application personally to ensure it meets our responsible lending policy. If you apply outside of business hours when we have all gone home, then we will get to your application first thing in the morning.

That's awesome and we appreciate you for meeting your obligations on time! After closure of your current Money in Minutes loan, you can apply for a fresh loan with us instantly through our mobile app and funds would be transferred to your account within minutes. So, if you are looking for your next loan with us, you can do so in minutes.

We need to know some of the basic stuff about you, such as your name, address, phone numbers, employer, and of course, salary amount. We would also need your bank account details (especially account number) so we can deposit the money directly into your account using our Fast Pay system after your application has been approved.

As all Indian lenders are required to review bank statements for the previous 180 days, we would also need your bank statements. We have features such as instant account verification and a quick to use document uploader to make this easy for you to send to us.

This info is used by our system and our friendly customer service team to reach the right decision for your needs.

Please provide up-to-date and accurate information as this helps us approve and transfer your funds ASAP.

Yes, we do!

We have a simple checklist for this.

Age- Anyone over 18 years can apply.

Employment- You need to be a full time employee. We are unable to lend to those with a commission-based income.

Pay- Salary 10,000 and above, To be paid directly into your bank account on a scheduled pay cycle

As part of our responsible lending policy, we conduct a comprehensive credit history check. But we don't turn you away or increase your interest rate in case you have a bad credit history, like other lenders do. Even if you have a few black marks on your credit history, we don't hold it against you. We assess you now and not on your past.

We only lend to customers who we are sure can afford our products. This is why we are diligent with our checks behind the scenes. By only lending you the loan you can comfortably afford to pay back, we are assuring your future financial health and peace of mind. This also ensures that you have a good credit history and can come back for more loans in future.

These are our values that make us responsible money lenders:

Transparency: Our costs, fees, and charges are all openly given to you from the get-go. There are no hidden charges that make for unpleasant surprises later.

We're people just like you: We understand how life works and that sometimes you just need some cash for a quick solution to an unexpected expense without having to be locked into a long credit contract for it. We understand your concerns so give us a call if this is your first time and we will put you at ease

We are committed to the satisfaction and delight of our customers, but if for some reason you believe we have failed in doing so, we really want to know what happened and how we can help you resolve this. You can mail us at mimcare@moneyinminutes.in. We will ensure we can get it right the next time.

Then tell us and everyone else all about it! Do so on our Facebook page and google play store by liking us there and sharing your experience with us.