MyLoanCare.in is among India’s leading online loans marketplace led by a Gurgaon based team of techno-financial experts working on a mission to bring transparency, simplicity and convenience in the way people borrow money. MyLoanCare’s state-of-the-art, home-grown technology platform enables online delivery of loans and related services to customers with speed and transparency.
Investors : We have recently received a round of Series A equity funding from Ncubate Capital Partners, a private investment arm of SAR Group family office for investments in branding, technology augmentation and growth of our company.
Partners : We have partnered with over 25 leading banks and finance companies operations for providing retail and SME credit across the country.
Geographical Presence : We operate across all customer segments, have a pan India presence in more than 1100+ cities through our partner banks.
Customer Franchise : We have helped more than 30000 borrowers avail a loan through our platform and have received consistently positive customer reviews (Average MyLoanCare customer ratings is 4.3/5 )
Product Offerings : Our key product offerings include home loan, personal loan, gold loan, business loan, mortgage loan, loan against property and credit cards.
Our Website : Our website www.myloancare.in gets more than 50000 visitors every day attracted by its high quality content targeted at educating the common borrowers by addressing their concerns in availing a loan.
Our Team : We are a team of 140+ professionals across functions of sales, technology, marketing, content, analytics, training and audit. Our management consists of experienced and senior professionals from the field of banking and technology
Why do we exist?
Do you agree that EMI's are the largest share of wallet of most working people in the age of
25-40? Yes, most of us spend more on EMI's than we do on all our other expenses put together.
MyLoanCare's mission is to help you save something out of your largest spend item. We are
India's first focussed online liabilties management firm!
We are a fast growing team of people focussed on bringing a big change. From Sun soaked beaches
in Goa to the Himalayas in Guwahati, from tech valley in Bangalore to business hubs in Delhi and
Coimbatore, from business-focused Ahmedabad to weekend-focused Gurgaon – we are changing the way
people choose and avail loans in India.
Legend of Mr. B and birth of MyLoanCare:
A young energetic professionally qualified investment banker working with a large private sector bank, Mr. B, got the best home loan deal he could imagine. He had successfully negotiated a high value home loan at an attractive rate of 8.25%. Mr. B felt proud of his negotiating skills, after all he was an MBA from one of the IIM’s, had an engineering degree from country’s premier institution, and was a CFA charter holder. He had surely got the best home loan deal, better than anyone else.
A few months later, he received a two line letter from his bank that left him in a state of shock. He couldn’t believe what he had just read. The interest rate on his floating rate loan had been revised upwards by a whopping 175 bps (1.75%) without even a stroke of pen (the letter was digitally signed, hence needed no signature!). That meant an increase in loan tenure from 15 years to 20 years.
With so few words, this letter had achieved so much for the bank, almost. If brevity was a virtue, this bank must be its master. Mr. B spoke to his bank “relationship manager” who said she knew nothing of this letter and that Mr. B should contact the banks’ customer care from his registered email id. Customer care auto-replied “Thank you for writing to us. We have received your query. We will reply within 5 working days.” On fifth working day, someone called Mr. B and asked what was the issue. Mr. B thought the “mistake” was about to be corrected. No, the story had just begun. Customer care officer heard Mr. B and reverted after a few days that the change in interest was as per the second proviso to clause 16 of the first schedule of home loan agreement read together with the last footnote printed on the reverse of the home loan sanction letter and that there was no “mistake” at the bank’s end. The interest rate on Mr. B’s loan had actually risen by 1.75%.
Mr. B offered to prepay the loan or refinance it with another lender. No, the loan could not be prepaid, not even partially, in the first six months, prompt came the reply from bank's customer "care". Bank further added, in its solo gesture of transparency, that any prepayment after six months would attract 2% penalty. And yes, please remember to pay 12.36% “service” tax on that. What, someone said “service”?
As they say, one mostly knows what one knows but one almost never knows what one doesn’t know. Mr. B realized how little he knew about his home loan and its fine print. Mr. B didn’t know his loan agreement. He didn’t know he had been tricked into buying a loan that was not as good as it looked. Mr. B couldn’t catch the non transparent terms he had been made to sign by the bank. A six month battle that went all the way to the office of the RBI’s Banking Ombudsman got Mr. B justice and the bank was forced to roll back the unfair part of the interest rate hike. But something big was about to happen. Eureka!
Mr. B is the founder of MyLoanCare! Today, Mr. B is all too thankful to the bank. The bank had
unknowingly delivered Mr. B a life changing idea. All of us need a service that will help them
know what they need to know, with transparency and honesty, a service that will not push-sell
loans that generate highest commissions but ones that are suitable for the customer. A service
that will deliver speed and efficiency and more!
Mr. B knew he needed someone who could understand the world of ones and zeros (ones without a
rupee symbol attached to them) and of gigas, megas and teras. So, he thought of his old pal from
college Mr. T. He narrated his experience with the bank to Mr. T and asked if he would come
along to set up a platform that would actually "care" for the customer. The smile on Mr. T’s
face said it all and more.
Mr. T had spent over a decade dealing with issues around technology, hardware, software,
processes and automation. Just like Mr. B, Mr. T also stood for some principles in life.
Honesty, transparency and professionalism.
Born of this real life experience, MyLoanCare’s mission is to build transparency, fairness and real cost effectiveness to people availing loans. We are there to service a customer’s need through his loan cycle.
MyLoanCare is a team of techno-financial experts that aspire to bring transparency, simplicity and convenience to borrowers in India using technology in innovative ways. Our mission is to:
- Offer professional advice to borrowers in India
- Protect the interest of borrowers
- Help borrowers make informed choices when comparing loans
- Negotiate best deals for home loans, balance transfer, loan against property, personal loans and business loans,
MyLoanCare is powered by a state-of-the-art custom-made technology platform that enables us to deliver loan related services to customers with speed and transparency.
Mr. B is CEO and Founder of MyLoanCare.in – Gaurav Gupta
Mr. T is Director and Co-Founder of MyLoanCare.in – Deepak Gupta
About A, C-S, U-Z, AA - ZZ:
As MyLoanCare found its feet, professionals across technology, IT, Finance and Customer Servicing joined the bandwagon. All of them are committed to a single mission – to never do to anyone what happened to Mr. B – lest we create more Mr. B’s! We are supported by accomplished consultants and freelancers in the fields of content, database design and optimization.
New home loans for under-construction properties come with strings attached
Few will be able to avail SBI's new home finance 'buyer guarantee' scheme: Here's why
SBI to refund home loan borrowers if builder delays project
The events that led to external benchmarking of loans and what borrowers should do now
2020 to usher in lower EMIs for SBI’s home loan customers
Opinion | Scenarios when banks lend even if a property lacks occupancy certificate
Unable to pay home loan EMIs? Here is what you can do
Homing in on securities: How to borrow safely against your flat
Loans: Festive season offers and should you take them
Axis Bank Express FD: A safe option, but nothing unique
Repo-linked interest rates to benefit loan borrowers
Banks roll out repo-linked lending rates but await further rate cuts
SBI hikes margin over repo rate in new loan scheme from Oct 1
Millennials are not afraid of EMIs, Nirmala Sitharaman. They are borrowing and spending
How to start an emergency fund while paying your education loan
How will borrowers' EMIs be reset after RBI decision to link loans to external benchmarks?
PSU bank mergers: Customers of which banks are likely to be impacted and how
Repo-linked loans: Choosing a lender to be much easier as only 2 criteria for comparing loans
Should you opt for a loan against life insurance policy?
Repo rate linked home loan: A less expensive option for borrowers
Self-employed? Four steps to ensure your home loan application is accepted
BT Insight: The how's and why's of getting an education loan
Budget 2019: Fintech Companies Hope Government Could Revive the Economy
Union Budget 2019: What Do Fintech Startups Want From The Upcoming Budget
ओवरड्राफ्ट सुविधा वाला होम लोन लेना चाहिए? जानें फायदे व नुकसान
कार बेचनी है? जानें नए खरीदार के नाम लोन ट्रांसफर करने का तरीका
How to transfer a car loan to another person
Should you opt for home loan overdraft facility?
New age fintech products for individuals
Repo rate lowest since 2010 after RBI’s third cut this year
RBI releases a slew of retail-investor friendly policies
RBI cuts repo rate by 25 bps for 3rd time: Here's how much your EMI may fall
India undergoing fintech revolution: Myloancare CEO
My First Job: Gaurav Gupta, Co-Founder & CEO, Myloancare.in
Smart usage of credit card: How can you reap maximum benefits?
Professional loans can help set up your practice
Here's why you should choose shorter tenures while applying for a car loan
How to avoid rejection of personal loan application
NBFCs, Fintechs re-defining consumer credit growth in India
Need loan? Buying car? Hiring cab? 5 startups that can help you
A little extra goes a long way
Looking to finance short-term loans? Here are 5 platforms that can help
6 smart tips to keep in mind while applying for a travel loan
Fintechs welcome RBI’s regulatory sandbox; Anticipate greater innovation
Debit-cum-credit card: Should you opt for this combo card?
Debt Market vs Equity Market: Is RBI repo rate cut reaching to the end users?
MyLoanCare — the startup that identifies suitable loan offers for a customer
Home loans: You can get the best deals even in the MCLR-based regime
Availing home loan? How to get the right deal for your property purchase
Banks revise rates, but don’t transfer your home loan yet
5 reasons you need to fix your credit score right away!
How NBFCs Are Resolving The Credit Deficit In The Country
MyLoanCare to raise $10m
MyLoanCare hits Rs 1000 crore loan disbursal milestone in 2018
Looking for an education loan?
Education or personal loan: Which is better way of financing higher education?
How scrapping of tax on notional rent on second house will affect individual taxpayers
Monthly installments on car, home loans may fall marginally on RBI rate cut
Money Guru: Things to keep in mind before applying for business loans
Realty & expectations: What home buyers want
What Fintech Startups Want In Budget 2019: Tax Rebate, Liquidity And Policy Reforms
Digitalisation, smart integration, innovative technology: How 2019 will reshape the fintech sector
Credit card owner? Beware! Do not do this, you must follow these 5 tips to stop loss, increase gains
This Gurgaon Based Techno-financial Platform Enables Online Delivery of Loans
How to smartly deal with the debt on your personal loans
Availing a loan for your marriage? Keep these key points in mind
HDFC Bank’s car loan repayment scheme. Worth it or a gimmick?
Fintech supporting newly weds
5 smart ways to mend and improve your credit score
MyLoanCare rolls out a free loan portfolio management system
Five Steps to Gradually Fix Your Credit Score For Easy Access to Loans
How new-age technology is improving the loan process in India.
Do you want to be eligible for home loan? Follow these guide, know from tenure to credit score
RBI Mulls Live Video Authentication As Aadhaar eKYC Alternative
Tech-enabled alternative lending bridging the gaps in India’s credit systems
RBI maintains status quo on rates: Is this good news for borrowers?
How to track personal loan status
Applying for a home loan? Stay away from the flat interest rate trap to save money
MyLoanCare in Digitally Connects Retail and SME Borrowers
What is flat interest rate? This is how you are trapped by your home loan, car loan, loan against property!
Online lending platforms gear up for festival loan rush with offers, discounts
The hidden expense behind every no-cost EMI
Looking to invest in fixed deposits? Check out the latest FD rates of SBI, HDFC, ICICI, Kotak, Axis and other banks
Buying a home? Know your loan eligibility
RBI keeps repo rate unchanged, but no guarantee of relief for loan takers; Home, car loan rates may still go up!
MyLoanCare to expand operations, focus on digital efforts
Festive season to kick start! This is how lenders are gearing to lure customers
Credit Cards, loans, EMI schemes in demand as consumers get bullish on festive season
Festive season! Don’t let cash crunch, fuel prices mar your joy; avail this option for financial aid
Take personal loan for medical expenses
How to choose the best home loan repayment option to ensure good financial health
Here is Why Customer Acquisition is Still a Challenge for Alternate Lending Platforms
How Can You Maintain Good Relationships With Your Peers
Here's Why Entrepreneurs Need to Build Good Relationships at Work
Fintech Startup MyLoanCare Closes Series A Funding Worth Rs 6.5 Cr from SAR Group
Startup MyLoanCare Raises Series A Funding
SAR Group’s VC arm backs fintech startup MyLoanCare
Don't take festive loan offers from banks at face value
Buying a car this festive season? Consider these factors when comparing car loans
Transfer your home loan with a top-up
Let specialists help you get the best home loan

- Seasoned Investment Banker
- Total Experience: 18 years+
- Past Organisation: Kotak, Merrill Lynch

- Technology and Process Automation Expert
- Total Experience: 18 years+
- Past Organisation: Ranbaxy, Mahindra Consulting

- Experienced Banking and Financial Services Consultant
- Total Experience: 18 years+
- Past Organisation: ICRA, McKinsey

- Technology expert in BFSI and Fintech
- Total Experience: 10 years+
- Past Organisation: IndusInd Bank, PaisaBazaar, RupeePower
-
Abhavya Kaushal
Content Manager -
Alok Ranjan
Team Leader, Mortgages -
Annu
Team Leader, Credit Card/ Gold Loan -
Divya Mehta
Quality Manager -
Dr. Pallavi Goyal
SME Training -
Kanchan Saini
Sr. Manager – Operations -
Nishant Bhardwaj
Project Manager, IT -
Sanjay Kumar
Manager - Operations Mortgages -
Sumit Raghav
Project Manager, IT -
Vanisha Thakaral
Team Leader, Mortgages -
Vineeta Sharma
Floor Manager - Operations
4
i
Contact MyLoanCare
Customer care related queries | care@myloancare.in |
Careers and current openings | hr@myloancare.in |