Monedo Loan


Monedo or Kreditech offers cardless EMI to its customers for a smooth shopping. You can enjoy online shopping opportunities without a credit card and repay later via auto-debit or net banking in comfortable instalments.





Monedo Financial Services Private Limited (previously known as Kreditech Financial Services Private Limited) is a Non-Banking Finance Company (NBFC) regulated by the Reserve Bank of India (RBI). It aims at making lending a seamless process with utmost customer satisfaction and a lasting relationship.

Monedo has a unique and agile business model, facilitating easy acquisitions. Their business solutions enable higher conversion rates for their partners and their customers finance their purchases in minutes.

Features and Benefits

  • Make online purchases now and pay later
  • No credit card is required
  • The process is simple & secure
  • You can also buy premium and pay back flexibly & affordably in flexible EMIs.
  • Get the application and payout completed in just a few minutes.
  • All conditions and charges for Monedo Loan are clearly stated.
  • You can make repayments via auto-debit or net banking.
  • Your personal and financial information is secure and protected.

Monedo Loan Interest Rate

Monedo India's business model aims at providing credit to only those customers who meet the benchmarks set by Monedo India. Monedo interest rate is calculated according to the 30/360 day count convention.

The interest rate for the same product and tenure availed during the same period by different customers may differ based on the conditions listed in Monedo's policy.

Factors That Affect Monedo Loan Interest Rate

The Monedo interest rates chargeable to each loan account are assessed on a case to case basis, after an evaluation of the following factors:

  • Tenure of the loan and payment terms: Monedo India considers the terms of the loan and payment of interest in evaluating interest rates.
  • Internal & external costs of funds: The cost of funds sourcing for offering loans to customers (that is external cost of fund) and the expected return on equity (that is internal cost of funds) are also considered.
  • Internal cost loading: Mondeo also considers the costs of doing business, transaction's complexity, capital risk involved, transaction's size, location of the customer, and other factors.
  • Credit risk: Monedo takes into consideration the risk of credit loss cost in assessing the interest rate on loan accounts. Its internal assessment of the customer's credit strength is also considered in determining the credit risk cost applicable to the customer.
  • Market dynamics: The prevailing rates of interest offered by other NBFCs for similar products and services as Monedo India are considered in assessing chargeable interest rates. It also sees the forecasts and analysis of 'what if' scenarios' for determining interest rates.
  • Structuring premium: If there is a significant structuring element regarding the collateral/other aspects of transaction structure, a premium to the loan may be applied by Monedo India.
  • Other relevant factors: Such as matching tenure cost, relevant RBI Policies, market liquidity, the stability of customer's earning & employment history, subvention & subsidies available, deviations permitted, future business opportunities, industry trends, external ratings, switchover options, etc. may also be considered.

Eligibility Criteria

Monedo eligibility criteria depend on the following factors:

  • Age: Applicant must be above 18 years of age.
  • Active account: Applicant should not have more than one active Account with
  • The profile & market reputation of the customer must be strong.
  • Inherent nature of the product, type or nature of the facility, and loan to value of the asset to be financed.
  • History & duration of Monedo's relationship with the customer, their past repayment track record, and also the historical performance of similar clients.
  • Group strength, future potential, overall customer yield, repayment capacity based on cash flows, and customer's other financial commitments.
  • Nature and value of primary as well as secondary collateral/security.
  • Type of asset to be financed and end-use of the loan.
  • Interest and default risk in the related customer segment.
  • The relevant guidelines of RBI & other applicable laws.

Documents Required

Keep the following documents and details handy for the Monedo Personal Loan registration process:

  • Scanned copies of your Aadhaar Card and PAN card
  • Details of your preferred bank

Fees and Other Charges

Monedo charges processing fees, loan termination fees, bounced back cheques debit fee, field collection charges, service tax, levies, cess, and other charges.

Besides the annual interest, Monedo India may also levy additional interest for ad hoc facilities, penal interest or default interest for any delay/default in payment of dues mentioned in the loan agreement.

The details of penal interest and other charges applicable on Monedo instant loan will be mentioned in bold in the loan agreement as well as the sanction letter.

Monedo Loan Process - How to Apply

You can shop now and pay later with Monedo and get your purchase in just a few simple steps mentioned below:

  • Shop with Monedo's merchants: For all your shopping needs, check out what Monedo's merchants have to offer.
  • Choose Monedo Financial Services Pvt Ltd: Once you have found an item you like to purchase, you can directly select "Cardless EMI" on the product page. Click on the EMI option at checkout, enter a few details about yourself, and then select your preferred instalment plan.
  • Sign up & get your purchase: Follow Monedo's quick and easy guide, where they will ask for some information about yourself to build an offer for you. Keep your Aadhaar and PAN card's scanned copies, and your preferred bank details handy to keep the process short. You can check out even faster by completing Monedo's Aadhaar based eKYC to verify your identity. Once you complete the verification process, set up the repayments, and your request is approved, Monedo will have the merchant send your purchased item to you immediately.
  • Repay conveniently: You will never miss a payment date with Monedo's automatic debit feature.

Monedo Loan Calculator

You can use Monedo loan calculator available at MyMoneyMantra to calculate your EMI for Monedo personal loan. Just click on Personal Loan EMI Calculator given at our homepage and enter a few details to get the result.

Comparison of Monedo vs. Other Lenders

Below is the comparison of Monedo instant loan app with other personal loan apps:

Lender Name Interest Rate (per annum) Processing Fee Loan Amount Tenure


Calculated as per the 30/360 day count convention

Mentioned in the loan agreement

Depends on the purchase value

Communicated during the loan application


24% - 30%

Up to 4,000

5,000 - 5 Lakhs

90 days - 730 days


Starting at 13%

Up to 2% + GST

3,000 - 5 Lakhs

2 months - 36 months

Money View

Starting at 15.96%

Starting at 2%

10,000 - 5 Lakhs

Up to 5 years


15% - 29.95%

Up to 6%

1,000 - 2 Lakhs

2 months- 15 months


11.99% - 59.99%

Up to 10% + GST

500 - 5 Lakhs

3 months - 36 months


Monedo Customer Care

You can raise your complaint to Monedo through the following ways:

  • Write an email to them at
  • Call them at 022-62593700. Business hours are 8 AM to 8 PM Indian time, Monday to Friday (except national holidays).

If the customer is not satisfied with the provided resolution, they may escalate their complaint to the next level.

Grievance Officer - Mrs. Sumita Almeida


Tel: 022-62593700

Mailing Address:

PO Box No. 17416,

J B Nagar Post Office,

Andheri (East), Mumbai - 400059

Registered address:

3rd Floor, Part A,

Corporate Centre Andheri, Kurla Road,

Andheri East, Mumbai-400059, Maharashtra, India.

If the customer is still not satisfied with the resolution, they may contact the officer-in-charge of the Regional Office of the Department of Non-Banking Supervision (DNBS) of the RBI at:


The Reserve Bank of India,

Department of Non-Banking Supervision,

Mumbai Regional Office, 3rd Floor, RBI Building,

Opp. Mumbai Central Railway Station, Near Maratha Mandir

Byculla, Mumbai - 400 008

Tel: 022-2308 4121/2302 8436

Fax: 022-2302 2011



✅ What is Monedo?

Monedo is a cardless EMI option that enables you to shop online on credit and pay later in affordable EMIs.

✅ How can I make repayments?

You can make repayment through auto-debit or net banking in comfortable instalments.

✅ Which documents do I need to be eligible?

You will need scanned copies of your Aadhaar card, PAN card, and keep the bank details handy to shorten the process.

✅ How can I call Monedo?

You can call Monedo at +91 22 62593700.

✅ Is there any email ID of Monedo?

Yes. You can email Monedo at

✅ Which services are offered by Monedo?

  • The Monedo platform allows you to:
  • Make payment for online purchases
  • Apply for loans
  • Confirm your creditworthiness before the loan is sanctioned
  • Determine your eligibility for a loan
  • Manage your loans & make repayments

✅ Is this platform accessible to all?

The Platform Services are available to persons aged above 18 years.

✅ How does Monedo calculate interest rate?

Monedo India calculates its interest rate according to the 30/360 day count convention method. The interest rate for the same product and tenure availed during the same period to different customers may vary depending on the conditions listed in the policy of Monedo.

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