By submitting a loan application or using any Money Maitra service, you agree to be bound by these Terms & Conditions. If you do not agree, please do not use our services.
1. About Money Maitra
Money Maitra is a digital lending platform operated by Astha Micro Finance Association , registered under the Companies Act 2013. We exclusively provide payday loans to salaried professionals across India.
2. Eligibility Criteria
To qualify for a Money Maitra payday loan, applicants must meet the following criteria:
- Indian citizen, resident in India
- Age between 21 and 55 years
- Salaried employee
- Minimum monthly income of ₹15,000
- Valid PAN card and Aadhaar card
- Active bank account with net banking or UPI enabled
- No active default on any existing loan
Self-employed individuals, may apply but are subject to stricter eligibility verification and may not qualify for all loan products.
3. Loan Products & Amount
Money Maitra offers the following payday loan product:
| Product |
Loan Amount |
Tenure |
Purpose |
| Payday Loan |
₹10,000 - ₹1,00,000 |
1 - 45 Days (assigned by team) |
Emergency, medical, travel etc. |
Approved loan amounts are at the sole discretion of Money Maitra based on creditworthiness, income, and existing obligations.
4. Interest Rates & Fees
Interest rates and fees applicable to Money Maitra payday loans:
| Charge Type |
Rate / Amount |
| APR |
15% - 35% |
| Processing Fee |
10% of loan amount (one-time) |
| Bounce Charges (ECS/NACH) |
₹1000 per bounce |
| GST |
18% applicable on fees and charges as per govt. regulations |
The actual interest rate offered to you may vary based on your credit profile, income, loan tenure, and risk assessment. The final rate will be communicated to you before loan disbursement.
5. Repayment Terms
Loan repayment works as follows:
- Full repayment (principal + interest) on the due date assigned at loan origination
- Payment accepted via UPI, NEFT, RTGS, IMPS, or bank transfer
- Auto-debit via NACH/ECS mandate (where applicable)
- Repayment details (QR code, UPI ID, bank account) are available at Money Maitra.co.in/repay
- 3-Day Cooling Off Period: You may cancel your loan within 3 business days of disbursement by returning the principal amount
6. Default & Consequences
A loan is considered in default if payment is not received within 7 days of the due date. Consequences of default include:
- Late payment penalties as specified in Section 4
- Negative reporting to CIBIL and other credit bureaus, impacting your credit score
- Recovery actions including phone calls, legal notices, and legal proceedings
- Ineligibility for future Money Maitra products
7. Documentation Requirements
The following documents are required to process your payday loan application:
- Government ID Proof: Aadhaar Card (mandatory)
- PAN Card (mandatory for KYC)
- Latest 3 months' salary slips
- Latest 3 months' bank statements
- Passport-size photograph
- Employment letter or offer letter (for new employees)
8. Prohibited Use
Money Maitra loans must not be used for:
- Speculative investments, stock market, or cryptocurrency trading
- Gambling or any illegal activity
- Repayment of another loan taken for illegal purposes
- Any activity prohibited under applicable Indian law
9. Governing Law & Jurisdiction
These Terms & Conditions are governed by the laws of India. Any disputes arising from these terms or from any loan agreement shall be subject to the exclusive jurisdiction of the courts in New Delhi, India. Disputes may first be referred to arbitration under the Arbitration and Conciliation Act, 1996.
10. Amendments
Money Maitra reserves the right to modify these Terms & Conditions at any time. Changes will be posted on this page. Continued use of our services after changes are posted constitutes acceptance of the new terms. We recommend reviewing this page periodically.
11. Contact & Grievances
For loan-related queries, disputes, or grievances:
Back to Home