MICROMONEY

Varrenyam Infotech Private Limited

About this app

Micromoney - Frequently Asked Questions (Summary Guide)
Micromoney is your go-to mobile app for fast, secure, and fully digital personal loans. Whether it's for an emergency, urgent bills, or short-term financial needs, Micromoney offers an easy, transparent borrowing experience — with zero hidden charges and no collateral required.

1. Eligibility
Age: 21+ years
Employment: Salaried (with regular income)
Minimum Net Salary: ₹15,000/month
Valid PAN & Aadhaar Card
Salary Account Bank Statement

2. Loan Features
Loan Amounts: ₹5,000 to ₹2,00,000
Tenure: 2 to 24 months
Interest Rate: 24% to 36% p.a. (flat)
Processing Fee: ₹600 – ₹11,918 (incl. GST)
No collateral or security required
No hidden charges or prepayment penalties

3. Application Process
Step 1: Download the Micromoney App
Step 2: Create an account and fill in your loan application
Step 3: Upload required documents
Step 4: Get evaluated and receive funds in your bank account upon approval

4. Documentation Required
PAN Card
Aadhaar Card
Latest Salary Bank Statement

5. Sample Loan Calculation
Loan Amount: ₹15,000
- Tenure: 3 Months
- Interest Rate: 36% per annum (flat)
- Processing Fees (incl. GST): ₹826
- Disbursed Amount: ₹15,000 - ₹826 = ₹14,174
- Flat Interest: ₹15,000 * 3/12 * 36% = ₹1,350
- Total Repayment Amount: ₹15,000 + ₹1,350 = ₹16,350
- Monthly EMI: ₹16,350 / 3 = ₹5,450
- Total Cost of Loan: ₹1,350 (Interest) + ₹826 (Processing Fees) = ₹2,176

6. Repayment
EMI auto-debited from your salary account
Flexible tenure options
No foreclosure or part-payment charges

7. Charges
Interest: 24% – 36% p.a.
Processing Fee: ₹600 – ₹14,000(+18% GST)
Late Payment Fee: Up to 8.33% per month (min ₹500 + GST)
Bounce/EMI Return: ₹500 + GST
Mandate Failure: ₹250 + GST
Prepayment Charges: None

8. Representative Loan Example
For a ₹15,000 loan over 3 months @ 36% p.a. (flat):
Processing Fee: ₹1,239 (incl. GST)
Disbursed Amount: ₹13,761
Total Interest: ₹1,350
Total Repayment: ₹16,350
Monthly EMI: ₹5,450

9. Security & Data Privacy
Micromoney only accesses user data with clear, informed consent for:
SMS: For credit profiling (transactional only)
Location: To determine loan eligibility
Camera/Storage: For document upload and verification
Device Info: To protect against fraud and ensure secure usage
Micromoney follows Google’s personal loan policy, RBI's digital lending guidelines, and all relevant data privacy laws including the Digital Personal Data Protection Act, 2023.

10. Customer Support
Email: [e-mail]
Available Mon-Sat, 10 AM to 6 PM
For full terms, visit: https://micromoney.in/PrivacyPolicy

11. NBFC Partnership
Micromoney works in partnership with:
Yashik Finlease Pvt. Ltd. (RBI-registered NBFC)

Micromoney — your trusted partner for easy, fast, and transparent personal loans.