No more money worries during month end!

What is EarlySalary?

EarlySalary, a Fintech Startup, which is headquartered in Pune, uses new age technology for lending loans. The organization plans to deliver new business model that will change the lending market in India.

What does it offers?

The company was formed with a motto to bring users the convenience of securing loans at short notice period with least legal formalities. The service is offered as a mobile application that helps working professional, struggling with money, to avail small amount of loans, until their salary gets credited at the start of next month. Users just have to download the app and login using their Facebook account with some basic details and apply for loan. As soon as the documents are approved through the app, the money gets transferred to the account and the user is notified of their loan approval.

What amount can we avail?

The company offers loans from Rs.10,000 up to 1 Lac for a tenure of 7 to 30 days. Credit limit is subject to many variables but in principle, one can avail loan of up to 50% of their salary. The startup was setup in February, 2016 and today, it boasts of 1 Lakh app downloads and loan requests.

What about Fintech?

FinTech is generating big buzz in the startup ecosystem and various players are disordering the traditional way of banking by coming up with customer pay points for payments, lending, financial inclusion, or solving business issues in the banking space such as payments aggregation and risk analytics.

Takeaways:-

• EarlySalary is a new age technology for lending funds that helps working professionals to avail small amounts of loan.
• The startup was founded in February 2016 and has 1 Lac app downloads and loan requests.
• The company offers loan ranging from Rs.10,000 to 1 Lac for a tenure of 7 to 30 days.