BetterPlace Money 0.6.0

BetterPlace Money, operated by Betterplace Safety Solutions Private Limited, is a financial services platform dedicated to enhancing the financial well-being of frontline workers in India. Acting as an intermediary between frontline workers and major banks/NBFCs, BetterPlace Money streamlines the loan application process for India's next billion population. One of the NBFCs featured on our platform is NDX P2P Private Limited (Liquiloans).

Users have the opportunity to access instant cash personal loans of up to Rs 25,000 at an interest rate ranging from 1% to 3%, with transparent pricing and no hidden costs. A nominal processing fee of Rs 200 to Rs 600 (excluding GST) applies.

Illustrative breakdown of the comprehensive cost of a Personal Loan, incorporating all relevant charges:

Key Features:

• Loan Amount: Up to Rs 25,000
• Repayment Period: Minimum 3 months to maximum 6 months
• Interest Rate / Annual Percentage Rate (APR): Range from minimum 20% to maximum 50%
• Processing Charges: Rs 200-Rs 600 (exclusive of GST)

Sample Loan Scenario:

• Amount: Rs 10,000
• Interest Rate: 1.5% monthly simple interest
• Tenure: 3 months
• EMI Frequency: Monthly
• Processing Fee: Rs 300
• Disbursed Amount: Rs 9,700
• Total Interest Payable: Rs 450 (calculated at 1.5% per month = Rs 150 * 3)
• Monthly Payment: Rs 3483.33
• Total Payment in 3 months: Rs 10,450
• Overall Cost: Rs 750 (comprising of Rs 450 in interest and Rs 300 as processing fee)
• APR: (750/10000)*(365/90) = 30.4%

*Interest rates and processing fees are subject to product variation.

Visit BetterPlace Money for more information.

Please direct any inquiries to [email protected].