BetterPlace Money

Features BetterPlace Money

BetterPlace Money (Betterplace Safety Solutions Private Limited) is a financial services platform which aims to help improve the financial health of frontline workers in India.
BetterPlace 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 of India.
The NBFC which is currently available on our platform is NDX P2P Private Limited (Liquiloans).A user can avail instant cash personal loans of up to Rs 25,000 at a 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: Upto 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/- (exclusive of GST)Sample Loan Example:Amount: Rs 10,000/- Interest Rate: 1.5% monthly simple interestTenure: 3 monthsEMI Frequency: MonthlyProcessing 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/- (includes Rs 450/- as interest and Rs 300/- as processing fee)APR: (750/10000)*(365/90) = 30.4%*Interest rate and processing fees vary as per your producthttps://betterplace.co.in/Please reach out to [email protected] for any questions.