MyShubhLife (formerly known as Shubh Loans) provides you extensive financial assistance through Personal Loans, Bill Payments, SIPs, Insurance, E Gold and E Tax filing.
1. Personal Loans
Loans for people with no credit score – MyShubhLife credit model assesses your credit-worthiness
Loans from Rs.3,000 to 2,00,000 – Small or big loans, as per your need and capacity to repay
Types of loans – Education loan, Health & Medical loans, Home upgrades and Emergency cash
MyShubhLife offers custom insurance products for our customers:
General Health Insurance
3. Investments – Mutual Fund SIPs
Invest in the right mutual fund and SIPs at the right time. Make a big profit with Equity Mutual Funds. Start SIPs online and also save tax by investing in income tax saving funds. Investments as low as Rs.100/month
Tax Saving Mutual Funds (ELSS)
Tax saving plans can help you save up to 45,000 tax/year. They have a lock-in period of only 3 years. Other tax-saving investments like PPF have a lock-in of 5-15 years.
4. Buy Gold
Buy E-Gold, starting from Rs.100 on MyShubhLife platform and get it delivered to your home.
5. Tax Filing
Income Tax returns made simple and easy on MyShubhLife app with Digital Tax filing. Simply select all the sources of your income and e-file them accurately
6. Bill Payments
You can pay utility bills (water, gas, electricity), recharge mobile, recharge Fastag, renew insurance, make repayments on Loan EMIs / credit cards and do a lot more with bill payments on MyShubhLife app
How to apply for a loan?
Apply for a personal loan in 3 easy steps
1. Complete your MyShubhLife app profile with PAN and Bank Statement
2. Generate your free MyShubhLife Credit Report
3. Apply for a loan on the app and get money directly into your account
MyShubhLife app connects borrowers with NBFCs/Banks. All loan applications are sanctioned & approved by NBFCs/Banks registered with RBI and their details are shown upfront during Loan application & in the Loan Agreements.
Our Lending Partners:
1. Axis Finance Limited
2. DMI Finance Pvt Ltd
3. Ekagrata Finance Pvt. Ltd.
4. Fullerton India Credit Company Limited
5. HDB Financial Services Ltd
6. Incred financial services limited
Top 8 reasons why MyShubhLife is the best app for your loan requirements
* Get loans ranging from ₹3,000 to ₹5,00,000
* Instead of looking for an education loan, wedding loan, loan for medical expenses and any other specific loan use MyShubhLife, a single app for all your quick loan needs
* Loans to salaried employees with monthly income as low as ₹12,000
* Get credit easily by using only a smartphone or a computer
* Easy digital process with no paperwork
* Convenient long term repayment tenure from 3 months to 3 years
* Interest rate from 16% – 44% p.a. on reducing balance basis, depending on risk profile and loan tenure
* Processing fee between 0% to 3%, deducted upfront
* MyShubhLife app is available in Kannada, Tamil, Telugu, Marathi, Hindi and English
Information on Personal Loans
Repayment Period: 3 months (min.) to 36 months (max.)
Max. Annual Percentage Rate (APR): 78%
Representative Example of the total cost of the loan
This is an example to help our customers understand how EMI, interest and other costs are calculated. Actual amount, tenure, interest rate & processing fee will depend on the customer’s risk profile.
Loan Amount = ₹1,00,000
Duration = 12 months
Interest rate = 26%
Monthly EMI = ₹9,553
EMI = [P x R x (1+R)^N]/[(1+R)^N-1], P Loan Amount, R interest rate & N duration.
Total Interest [(EMI x 12) – Loan Amount]: (₹9553 x 12) – (₹1,00,000) = ₹14,636
Other costs include Processing Fee (@2% + 18% GST): ₹1,00,000 x 2% = ₹2,000 + 18% GST = ₹2,360.
Total costs = ₹14,636 + ₹2,360 = ₹16,996
Total Repayment = ₹1,00,000 + ₹16,996 = ₹1,16,996.
Contact Us: Mail: [email protected]