Frequently Asked Questions
Frequently Asked Questions
Frequently Asked Questions
General
DigiMoney helps to get Instant Loans with wait time less than half an hour. You can take instant loan directly to your bank account and repay using EMI options at affordable interest rates. You are benefited by No Bank visits and our approval process is 100% paperless and zero collateral.
Loan Related
DigiMoney extends loan facility to their patrons, Personal loans - 10,000 -1,00,000 | LAP - 5,00,000 to 20,00,000
Eligibility can be sought on completing the E-KYC process, complying the norms of the loan application and basis of your results through our proprietary rule engine.
The loan tenure varies from 3 months to 12 months depending on the loan amount sanctioned to you.
Yes, there is a processing fee charged up to 2%, based on your profile and the same will be deducted from the sanctioned loan amount before disbursement.
No, a user is allowed to opt only one loan at a time. Post the entire amount of loan taken is repaid, then the user can go for second loan application.
Interest charges will be between 10% to 24 % , the interest charges for each individual will differ based on the results of our proprietary rule engine.
You can view your EMI date in the Dashboard and in the agreement. As of now, there is no option to change the EMI date.
EKYC Related
The Process of capturing Video and uploading is facilitated through the App. The time length of the video is 6 seconds.
Loan Disbursement
Loan can be opted only towards your Salary savings account which has been verified by us during your application processing.
Yes, your bank details are completely secure and safe. We use state of the art technology to protect your data.
Loan Repayment
Loan repayment is facilitated through ENACH debit. The EMI automatically gets debited from the Bank Account mentioned in ENACH mandate form.
On receipt of details on your loan amount sanctioned, ENACH mandate form has to filled and submitted through the app. The Bank account mentioned in the mandate form must be the Salary Savings bank account which has been verified by us during loan processing.
No, the user is not allowed to change details relating to Bank accounts during the repayment period. On such event, the loan is cancelled and the entire amount due as on date must be paid by the Borrower.
Enach bounce is charged at an amount of Rs.250/- per bounce.
In case of delayed repayment, a late fee is applied to your due amount. We don’t levy a penal interest.
If the EMI falls on Sunday or bank holiday, the auto debit will be executed on the next working day.
