BETTER PLACE MONEY LOAN APP REVIEW 2024
better place money is a financial services platform which aims to help improve the financial health of frontline workers in India. Better place money acts as a bridge between the frontline workers and the big banks / NBFCs by providing a simple and clear process for access to loans for the next billion population in india.
The NBFC which is currently available on our platform is NDX P2P private limited.
A user can avail instant cash personal loans of up to 25,000 at 1% – 3% interest rate with no other hidden charges. We charge a small processing fee of rs 200/- to rs 600/- exclusive of GST.
a Representative example of the total cost of the personal loan, including all applicable fees:
Highlights :
- finance amount : up to rs 25,000
- repayment tenure : minimum 3 months to maximum 6 months
- rate of interest / annual percentage Rate (APR) : minimum 20% to maximum 50%
- Processing fees : rs 200 – rs 600/-
sample loan example
- amount : rs 10, 000/-
- interest rate : 1.5% monthly simple interest
- tenere : 6 Months
- EMI frequency : monthly
- processing : fee rs 300/-
- disbursed amount : rs 9,700/-
- total interest payable : rs 450 /- ( interest is 1.5% per month = rs 150* 3)
- monthly payment : rs 3483.33/-
- total payment in 3 months : rs 10,450/-
- Overall cost : rs 750 /- ( include rs 450 /- interest and rs 300/- as processing fee)
- APR : (750/ 10000) (365/90) = 30.4%
please reach out to loan support@better place.com.in for any questions.
