My Money description

Introducing MyMoney, your personal money manager. Borrow, track & save money at low rates all in one app.
Brought to you by IIFL Finance, one of India’s largest non-banking financial companies, MyMoney is a free app that helps you borrow money, track your credit score & analyse your spends. Using MyMoney, you can apply for a personal loan or a business loan instantly! Now you can grow with confidence!
Download MyMoney right now and see the difference in your money management.

Key features

* Credit score: Get your CIBIL score for FREE within a minute

* Expense Analyser: Track your income and expenses displayed according to standard and user-defined categories. Create categories as many as you need.

* Instant Loan: Apply for a personal loan or a business loan digitally and meet your funding requirement in no time.

* Investment Analysis: Makes it easy for you to understand your investments by displaying them in attractive graphical formats.

* Invest with ease: Apply for Demat Account or invest in Mutual Fund SIPs.

* Easy and fast set-up: It takes just 10 minutes to download, create profile, link accounts and get started!

* Your data is safe: Your personal details and investments will be safe with highest levels of data security protocols.

* Can be used by everyone: Works on Android 5.0 and above.


Available in English language only.


Product Features for Personal Loan:

1. Get loans ranging from INR 5,000 to INR 2,00,000
2. 100% online loan application process - Only few documents to be uploaded on the application
3. Disbursal within 24 hours
4. Minimum APR (Annual Percentage Rate) is 22% and the Maximum APR (Annual Percentage Rate) is 28%
5. Minimum Tenure is 3 months and Maximum Tenure is 12 months
6. Processing Fee is 2% - 4%
7. Get a higher loan on successful repayment

*The annual interest rates and processing fee will vary as per the risk profile of the customers and the selected tenure.

Example
Loan Amount: ₹20,000
Tenure:180 days (6 months)
Interest Charged: ₹ 1,426 (24% per annum)
Processing Fee: ₹236 (1% of Loan Amount - ₹200 + GST @18% - ₹36)
Amount Disbursed: ₹19,764
EMI Amount: ₹ 3,571

Loan amount is ₹ 20,000. Disbursed amount is ₹ 19,764. Total loan repayment amount is ₹ 21,426.


Product Features for Business Loan:

1. Get Loans ranging from ₹ 1,00,000 to ₹ 10,00,000.
2. 100% online loan application process- only few documents to be uploaded on the application
3. Disbursal within 24 hours
4. Minimum APR (Annual Percentage Rate) is 18% and the Maximum APR (Annual Percentage Rate) is 22%
5. Tenure ranges from 3 to 60 months
6. Get a higher loan on successful repayment
7. We provide loans to business person providing accurate bank statements or GST details

Interest Calculation
If you avail a loan of ₹ 3,00,000 for a tenure of 12 months at 18% p.a. interest rate, the loan EMI will be ₹ 27504 and the total interest paid would be ₹ 30048