Bring us your Dreams - We Money Factory will step in to ease the pinch in your pocket, and lend you the funds to realise your dreams.
We are socially responsible lenders, focusing on quickly and reasonably servicing the short term cash requirements of salaried employees. This is facilitated in partnership with your employer organisation. We know that there are times when you need quick access to credit and traditional means may not be conveniently available to you. We've designed our model to be swift, hassle free and affordable. We can have funds credited to you in less than 24 hours.
Our loans can be accessed from the comfort of your home or office using any smartphone, tablet or PC. Alternatively we are just a phone call or an email away from you.
Once you’ve crossed 12 months tenure with your employer, we’re going to do everything in our power to ensure that you enjoy access to our services.
Our repayment model is tailored to ensure that our customers stick to their repayment plans, and don’t fall into an endless cycle of rollovers and fresh loans.
Our partnership with the Employer ensures its employees can forget their short term cash woes and need not take time off of work to apply for credit or make monthly payments. Our service is designed to protect the welfare of our customers and the companies they work for ; and to enhance their office and field productivity
The simple application process is completed in under 5 minutes, and once the fully filled application is uploaded / delivered and verified, we can have the funds to you within 24 hours normally.
What you read and see is what you get and what is written is what you have to pay : as simple as that. The rates of interest and charges are transparent, uniform and easily understandable. Use our interactive loan calculator to specify your loan amount and payback period, and see what the cost of borrowing and your monthly EMI will be.
We design our products to protect the welfare of our customers, as well as their office and field productivity.
No minimum Amount, no Minimum Tenure. Loans sanctioned irrespective of employees income levels, CIBIL scores and other traditional eligibility criteria.
Can be swiftly used to pay off other high cost borrowing and improve employee cash flow.
Quick loans
Small loans
Loans not normally available from the banking sector.
No collateral
No foreclosure fees
Easy eligibility
Very Nominal interest rates for this sector of loans
Very few players in the market catering to this sector which is the need of the hour
Todays salaried employees driven by peer pressure or the ever rising cost of living in cities are many a time coerced into taking loans at seemingly low costs which may have hidden conditions and unexplained consequences. These loans soon become a virtual Albatross around their necks.
To illustrate an employee drawing Rs.20,000 take home per month ,may need Rs 10000 They may borrow from a lender who claims to lend at 10%, and saying you need to repay the money with 10% interest next month, so the employee returns Rs.11000 at the end of one month against the initial Rs.10000 borrowed. At that point of time since the urgent requirement was met, the Rs.1000 cost for the money borrowed may not look exorbitant. However little do they realise they have paid an extortionate 120% per annum interest rate for this borrowal, this is the infamous bane of the middle class employee and has destroyed many a family. If they would have borrowed the same for 12 months, they would have ended up paying Rs. 22,000. The complications multiply if the loan is rolled over as interest will be compounded monthly or even weekly or daily and the actual cost of borrowing could go to 200% in a year.
This is where Money factory steps in and offers a fair very workable solution charging 24% Diminishing Balance Interest (which corresponds to 12% flat rate) for 6 Months and 30% Diminishing Balance Interest (which corresponds to 18% falt rate) for 12 Months interest per annum. Whereas if you borrow the same Rs.10,000 with Money Factory, over a 12 month period, you just have to back Rs.1,000 every month (principal + interest) which amounts to a mere Rs.12,000 at the end of 12 months.
In simpler words, if you borrow Rs. 100 from Money Factory you have to repay Rs.117 at the end of 12 months, which work out to a mere Rs. 1.41 interest per month on the initially borrowed sum.