MyLoanCare
MyLoanCare is an RBI-registered Indian digital NBFC offering 100% paperless personal loans to retail borrowers, with instant disbursement, and supplements origination through co-lending partnerships with banks and other NBFCs.
- Company typePrivate
- Founded2013
- HeadquartersGurugram, India
- Headcount101–250
- GTM typeB2C
- OfferingServices
What MyLoanCare does
MyLoanCare Ventures Private Limited is an RBI-registered, non-deposit taking, non-systemically important Non-Banking Finance Company (NBFC-ICC, Base Layer) headquartered in Gurugram, Haryana, India. Incorporated in 2013 (originally as My Finance Care Advisors Private Limited) and rebranded in 2022, the company operates a direct-to-consumer digital lending platform offering 100% paperless personal loans to Indian retail borrowers for use cases including medical emergencies, travel, and home renovation. Loan terms range from Rs. 1,00,000 ticket sizes, 3–36 month tenures, and interest rates of 16.50%–32% per annum with processing fees of 3%–3.5% (capped at Rs. 3,000 payable to MyLoanCare); the company claims instant disbursement within 2 hours through its myloancare.in and moneywide.com digital channels. Standard repayment modes include NACH/ECS, NEFT, RTGS, and PDCs, with documented policies on prepayment, penal interest, and bounce charges.
The underlying technology stack is a 100% digital origination and servicing platform supporting e-KYC, video-based CIP, automated workflows, and electronic loan agreements; the company has also published KYC/AML, Co-Lending, and Transfer of Loan Exposure policies aligned with RBI master directions. Beyond direct lending, MyLoanCare runs a Co-Lending Model under the RBI Co-Lending framework, partnering with scheduled commercial banks (excluding RRBs and SFBs), other NBFCs, HFCs, and Small Finance Banks — retaining at least 20% of credit risk on priority sector loans — and participates in inter-institutional loan transfer arrangements.
Revenue is generated primarily through interest income on retained loan exposure, processing fees (up to Rs. 3,000 per loan), penal interest and bounce charges on delayed or failed payments, and likely fee/spread income on co-lended and transferred portfolios. The company is privately held with no disclosed institutional investors beyond Ncubate Capital Partners (2018 round), no published revenue, and a 101–250 employee base led by Founder & CEO Gaurav Gupta and co-founder Deepak Gupta.
MyLoanCare firmographics
Firmographics- Name
- MyLoanCare
- Legal name
- MyLoanCare Ventures Private Limited
- Website
- https://myloancare.in
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- MyLoanCare is an RBI-registered Indian digital NBFC offering 100% paperless personal loans to retail borrowers, with instant disbursement, and supplements origination through co-lending partnerships with banks and other NBFCs.
- Ownership category
- akta.pro rank
MyLoanCare industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)
- akta.pro secondary industry
- Lending & Credit Disbursements (FSAMAKAH)
Keywords
Where MyLoanCare is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
MyLoanCare business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Interest Income: The primary revenue stream is interest income earned on personal loans extended to borrowers. Interest rates range from 16.50% to 32% per annum with APR ranging from 17.01% to 32.6%.
- Processing Fees: Fees charged to borrowers for loan processing. Processing fee is 3% to 3.5% of loan amount, with fee payable to MyLoanCare up to Rs. 3,000.
- Penal Interest and Charges: Penal interest charges for delayed payments, bounce charges for NACH/ECS bounce instances, PDC swap charges, outstation collection charges, and prepayment/foreclosure charges.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Personal Loan - Interest Rate |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
MyLoanCare product offering
Product offeringCore offering
MyLoanCare is an RBI-registered NBFC (MyLoanCare Ventures Private Limited) that originates and disburses 100% digital, paperless personal loans to individual borrowers in India. Loans carry interest rates of 16.50%–32% p.a., processing fees of 3%–3.5% (capped at Rs. 3,000 payable to MyLoanCare), tenures of 3–36 months, and are disbursed within 2 hours of approval. The company also operates a co-lending program with banks and other NBFCs under the RBI Co-Lending Model, retaining at least 20% of the credit risk on priority-sector arrangements.
Product overview
MyLoanCare operates as an RBI-registered NBFC (NBFC-ICC) offering a digital lending platform centered on instant, paperless personal loans. The core product is the Personal Loan, which is complemented by a Co-Lending Model that enables partnerships with banks and other NBFCs for joint lending. Supporting infrastructure includes a standardized Personal Loan Agreement framework and KYC/AML compliance services. The company leverages digital channels for loan origination and disbursement, positioning itself as a 100% tech-enabled financial services provider.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Loan 100% digital, paperless personal loan offered by MyLoanCare Ventures Private Limited to Indian residents (salaried and self-employed) for personal or business-related financial requirements such as unplanned medical emergencies, vacations, and home renovation. Key terms: interest rate 16.50%–32% p.a., processing fee 3%–3.5% (up to Rs. 3,000 payable to MyLoanCare), APR 17.01%–32.6%, tenure 3–36 months, instant disbursement within 2 hours of approval.
- Co-Lending Program Co-lending partnership offering under RBI's Co-Lending Model in which MyLoanCare jointly lends with scheduled commercial banks, NBFCs (including HFCs), Small Finance Banks, and All India Financial Institutions (NABARD, NHB, EXIM Bank, SIDBI). MyLoanCare retains at least 20% of the credit risk on priority-sector loans while partners contribute up to 80%, enabling risk sharing, priority-sector asset classification for partner banks, and expanded market reach for MyLoanCare.
Quantifiable outcome
- Instant disbursement within 2 hours
- +1 more outcomes
Companies that use MyLoanCare
Customer profileSegments1 record
Ideal customer profiles2 records
MyLoanCare technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
MyLoanCare partnerships and signals
Strategic signalScale indicators2 records
Recent moves7 records
Expansion highlights4 records
MyLoanCare competitors and assessment
Company assessmentDirect peers
- KreditBee: KreditBee is an India-based RBI-registered NBFC offering instant digital personal loans to salaried and self-employed individuals. Directly comparable as both are digital-first NBFC-ICCs targeting the same small-ticket, short-tenure personal loan segment with similar interest rate ranges.
- Money View: Money View operates an RBI-registered NBFC providing instant personal loans, home credit, and personal finance management. Closely comparable direct competitor in the Indian digital personal loan space with similar customer base and product structure.
- Fibe (formerly EarlySalary): Fibe is an India-based digital lending NBFC offering instant personal loans, salary advances, and cash loans via mobile app. Comparable as a direct digital lender targeting salaried professionals with similar short-tenure, small-ticket personal loan products.
- PaySense (LazyPay): PaySense / LazyPay is a digital lending platform offering personal loans and pay-later credit to Indian consumers. Comparable as a direct digital personal loan competitor with similar instant-disbursement value proposition.
- CASHe: CASHe is an India-based digital lending NBFC offering short-term personal loans to young salaried professionals. Comparable as a direct competitor focused on the small-ticket, short-tenure personal loan segment with similar pricing structure.
- MoneyTap: MoneyTap is an RBI-registered NBFC providing personal lines of credit and personal loans to Indian consumers. Comparable as a digital-first NBFC competitor in the same personal loan category.
- FlexSalary: FlexSalary is an India-based digital lending platform offering instant salary advances and personal loans to salaried employees. Comparable as a direct competitor in the short-tenure personal loan segment with similar instant-disbursement model.
- mPokket: mPokket is an India-based digital lending NBFC focused on instant personal loans to students and young professionals. Comparable as a direct digital personal loan competitor in the small-ticket, short-tenure segment.
Broad incumbents
- Bajaj Finance: Bajaj Finance is one of India's largest NBFCs offering personal loans, consumer finance, and digital lending products at scale. Comparable as a broad incumbent in the Indian personal loan market with overlapping customer segments but materially larger scale and balance sheet.
- Tata Capital: Tata Capital is a large Indian NBFC offering personal loans, business loans, and consumer finance. Comparable as a broad incumbent in the Indian personal loan market with overlapping products and customer base but broader portfolio and balance sheet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
MyLoanCare social profiles
Digital presenceMyLoanCare financial estimates
Financial estimateRevenue estimate
Valuation estimate
MyLoanCare leadership team
Management profileNumber of profiles
Profiles4 records
MyLoanCare funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MyLoanCare M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MyLoanCare
What does MyLoanCare do?
MyLoanCare is an RBI-registered NBFC (MyLoanCare Ventures Private Limited) that originates and disburses 100% digital, paperless personal loans to individual borrowers in India. Loans carry interest rates of 16.50%–32% p.a., processing fees of 3%–3.5% (capped at Rs. 3,000 payable to MyLoanCare), tenures of 3–36 months, and are disbursed within 2 hours of approval. The company also operates a co-lending program with banks and other NBFCs under the RBI Co-Lending Model, retaining at least 20% of the credit risk on priority-sector arrangements.
Is MyLoanCare a public or private company?
MyLoanCare is a private company. It is classified as venture growth investor backed and is currently operating.
When was MyLoanCare founded?
MyLoanCare was founded in 2013. It employs 101 to 250 people.
Where is MyLoanCare based?
MyLoanCare is headquartered in Gurugram, India, in the Asia region.
How does MyLoanCare make money?
Three revenue lines are on record. Interest Income is the primary driver. The others are processing Fees and penal Interest and Charges.
Who are MyLoanCare's main competitors?
Direct peers on record are KreditBee, Money View, Fibe (formerly EarlySalary), PaySense (LazyPay), CASHe, MoneyTap, FlexSalary and mPokket. Broad incumbents are Bajaj Finance and Tata Capital.
Does MyLoanCare have an API?
No public API is recorded for MyLoanCare.
What industry is MyLoanCare in?
MyLoanCare's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAAAG, Large Purchase & Lifestyle Personal Loans (Unsecured Installment), with a secondary code of FSAMAKAH, Lending & Credit Disbursements. Its NAICS code is 5222 and its SIC code is 6141.