Spice Money Adhikari

139K reviews
Content rating
Screenshot image
Screenshot image
Screenshot image
Screenshot image
Screenshot image
Screenshot image
Screenshot image

About this app

Spice Money, a subsidiary of Digispice Technologies Ltd., is India’s leading rural fintech company. It is solving for urban-rural divide by providing financial services across 2.5 lakh villages, through a network of 12 lakh+ Adhikaris (Rural Merchants). Currently, Spice Money network covers 95% of rural pin codes in India, providing easy access to a wide array of digital, banking and financial services in over 10 crore households.

The app comes with Zero Subscriber ID cost and Zero Lifetime monthly charges. The registration process is straightforward and only requires your mobile number and basic KYC documents.

Spice Money Adhikaris can provide the following services through their Smart Banking Points:

Cash Withdrawal: Withdrawing cash using an Aadhaar-linked bank account.

Cash Deposit: Depositing cash using an Aadhaar-linked bank account.

Balance Inquiry: Checking balance for an Aadhaar-linked bank account.

Money Transfer (DMT): Sending money to other Aadhaar-linked bank accounts.

Mini ATM: Basic ATM services such as cash withdrawals & deposits using a Debit Card.

Account Opening: Opening of savings & current bank accounts.

Bill Payment & Loan/EMI Repayment: Payments for utilities (water, electricity, gas), Municipal Corp. tax, LIC premiums, & loan EMIs.

Mobile & DTH Recharge: Recharge services across all operators.

Tours & Travel Services: Ticket booking for train, bus, flight, hotel & tourism packages.

Cash Collection: Deposit of premiums, EMIs, & more.

Loans: Low interest rate loans from a wide network of Banks & NBFCs.

Enterprise Cash Management: Day-to-day management of cash inflows & outflows for enterprises.

PAN Card Services: Obtaining a new PAN card or updating an existing one through authorized gov. channels.

Umang: Access to e-gov services.

A regulated entity under RBI, Spice Money holds relevant licenses including Prepaid Instrument(PPI), Bharat Bill Payment(BBPS), GSP license, IRCTC and the corporate agency license for insurance by IRDA. It also facilitates loan services to its Adhikaris & customers in partnership with RBI licensed lenders.

Key Points to consider before applying for a Personal Loan:
* Loan Amount: 1,000 to 5 Lakhs
* Repayment Tenure: 3 months to 42 Months
* Processing Fees: Upto 6.5% + GST for Loan upto 10,000
Upto 5.5% + GST for Loan above 10,000
* Annual Percentage Rate (APR): Upto 65.61%
* Repayment Frequency: Daily, Monthly

Example for Monthly Installment Loan:
* Loan Amount: ₹ 2,00,000/-
* Tenure: 18 months
* Interest Amount @ 19.75% pa: ₹ 32,716/-
* Processing Fee @ 3% + ₹ 500/- + GST: ₹6500/- + GST
* Total Repayment Amount (Loan Amount + Interest): ₹ 2,32,722/-
* EMI: ₹ 12,929/-

Example for Daily Installment Loan:
* Loan Amount: Rs. 50,000
* Tenure: 180 days
* Interest Charge @ 30% pa flat: 7500
* Processing Fee @ 2%: 1000 + GST
* Total Amount paid: Rs. 58,500
* Daily Installment Amount: Rs. 371

Interest Rate, Processing fees, and Annual percentage rate vary by product and lender policy.

The company has following lending partners:
Mamta Projects (P) Ltd
Brand Name - Arthmate
For Grievances, contact Hitesh Bhansali @ 8336901719 / statutory.compliance@arthmate.com

IIFL Finance Limited
For Grievances, contact Hardik Panchal @ 02245205810 / 02268178410 / nodalofficer@iifl.com

Bhanix Finance & Investment Ltd
Brand Name - CASHe
For Grievances, contact Prateek Saxena @ 02246047350 / bhanix@cashe.co.in

Ekagrata Finance Private Limited
For Grievances, contact Asha Daniel / 8047185299 / grievance@ekagratafinance.com
Updated on
Mar 29, 2023

Data safety

Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. The developer provided this information and may update it over time.
This app may share these data types with third parties
Location, Personal info and 2 others
This app may collect these data types
Location, Personal info and 7 others
Data is encrypted in transit
Data can’t be deleted
139K reviews
March 10, 2023
Among all the aeps apps available in the market, Spice Money is the best. This app is easy to use and their customer support is very good. Those who think they will get a good aeps app can work with this app with their eyes closed. There are many fraud apps in the market who are greedy for more commission but in the end they loot everything. So don't expect much profit, go where you will get trust and confidence. Spice money is always the best.
34 people found this review helpful
Prince Bedi
February 25, 2023
Worst app. I have registered this app for adhikari one month ago but no response from distributor regarding my request for verification. Support team is helpful but distributor not helpful . This is time wasting app. At the time of registration and now I am also contact support team many time.
103 people found this review helpful
Vikas Madival
January 20, 2023
Worst experience ever I was using this I'd. first is I'd opening is challenging part Few days ago I uploaded wallet with around 2 lack rupess for money transfer and second day they remove money transfer option from app without any intimation and till date approx a month they didn't enable this pls beware I am happy with PAYNEARBY SERVICE
20 people found this review helpful
Spice Money Limited
January 20, 2023
Dear Sir, Greetings! We regret the inconvenience caused to you. Please share your email id and mobile number. We'll reach out to you to resolve all your concerns. Regards, Team Spice Money