LightMoney 1.0.17
Free Version
Publisher Description
LightMoney - This is a loan management app. It allows existing customers to view their loans.
LightMoney is a mobile app from Light Micro Finance Private Limited (a leading NBFC-MFI) for its existing customers. The app allows Light’s existing customers to manage their loan accounts. The customers can get details about their existing loans, EMIs, and repayment schedules through the app after the loan disbursement.
Generation, processing, and disbursement of the loan happens offline (not through this app).
Number of installments are loan product specific. Most of the loan products are of 24 installments. Installments follow monthly frequency.
Loan Processing Fee (LPF) is charged at 2% of the total principal amount and an 18% GST on the calculated LPF. So, on a loan amount of INR 60,000 a customer would need to pay INR 1,200 as LPF and INR 216 as GST on LPF.
APR is 26% as of 21 Feb 2023 which works on a diminishing basis. Current monthly installment size for an INR 60,000 loan for a 2-year tenor is INR 3,300, with a breakup of INR 1,300 towards interest and INR 2,000 towards principal for the very first installment assuming a gap of 30 calendar days between the system disbursement date and the first repayment date. For the subsequent installments, the interest portion will decrease, and principal portion will increase.
About LightMoney
LightMoney is a free app for Android published in the Accounting & Finance list of apps, part of Business.
The company that develops LightMoney is Light Microfinance Pvt Ltd. The latest version released by its developer is 1.0.17.
To install LightMoney on your Android device, just click the green Continue To App button above to start the installation process. The app is listed on our website since 2024-04-17 and was downloaded 1 times. We have already checked if the download link is safe, however for your own protection we recommend that you scan the downloaded app with your antivirus. Your antivirus may detect the LightMoney as malware as malware if the download link to com.lmfi.loanapp is broken.
How to install LightMoney on your Android device:
- Click on the Continue To App button on our website. This will redirect you to Google Play.
- Once the LightMoney is shown in the Google Play listing of your Android device, you can start its download and installation. Tap on the Install button located below the search bar and to the right of the app icon.
- A pop-up window with the permissions required by LightMoney will be shown. Click on Accept to continue the process.
- LightMoney will be downloaded onto your device, displaying a progress. Once the download completes, the installation will start and you'll get a notification after the installation is finished.
