• Myloancare was founded in 2013 to create an online loan marketplace after three professionals discussed their less-than-satisfactory experiences with banks and agencies. Following that debate, it was decided that a big segment of Indian consumers would benefit from a channel that would allow them to compare, shortlist, finalise, and obtain the proper loans online with relative ease and no hidden fees.
  • With these broad goals in mind, this firm set out to change the way Indians borrow money. Myloancare's solution claims to provide a simple, transparent, bank-neutral, and secure online platform for obtaining loans and credit cards.
  •  Its technology-driven process eliminates traditional banking's pain concerns, such as information asymmetry and lack of transparency. With its in-house skills, the firm focuses on new technologies and procedures, including CRM and bank connections. 
  • It has a registered customer base of over 6 million and offers home loans, personal loans, gold loans, business loans, mortgage loans, loans against property, credit cards, car loans, two-wheeler loans, fixed deposits, and savings accounts from over 30 banks. It has been consistently rated 4.5/5 by thousands of customers for its customer-oriented, bank neutral approach.
  • "We now have over 1,100 locations in India where we serve customers. Our 150-person team is developing credit solutions and lending processes that make a customer's loan journey less painful. We intend to assist an increasing number of people in obtaining finance tailored to their needs at low-interest rates," Gupta says.

Services on myloancare website

  • Myloancare relies on technology to develop algorithms that identify suitable loan offers for a customer, reduce subjectivity, improve mobile functionality and experience, build strong customer analytics for targeted offerings, and deepen integrations with lenders for faster and more efficient loan processing.
  •  “Today, many of these technologies are converging, resulting in new business opportunities and the next level of applications. Our goal is to combine these technologies and create customer-centric solutions that are agile, scalable, and integrated,” he says.
  • The length of time and formalities required to obtain a loan are often determined by the nature of the loan and bank policies. Customers who apply for a loan through the Myloancare website, on the other hand, should expect a speedier response time than those who apply through other channels. 
  • The average turnaround time for a gold loan is one day, whereas a home loan might take up to 15-20 days. Filtering based on consumer profiles, real-time technology connection with banks, and a dedicated loan officer all work together to reduce response time across categories. 
  • For example, in the credit card category, it can check in real-time for soft approval, which is only subject to final document verification, depending on the customer's eligibility and transmit the results to the consumer immediately.
  •  For gold loans, it directs the consumer to the bank's nearest gold loan branch and sets up an appointment for a branch visit on the bank's behalf, considerably decreasing the processing time.

Myloancare app

Myloancare app includes all of the website's features, including comparing, filtering, and applying for various loan packages. Customers may now get a free credit score report and watch the status of their loan applications in real-time, thanks to the startup's recent announcement. It's also working on linking the app with chatbots that run on WhatsApp.

Why consult myloancare

Here are the benefits of consulting myloancare before applying for loans.

  • Allows you to compare rates and features from multiple banks.

  • Allows users to choose a bank with the best rate and features with the help of automated rule engines and advisors.

  • Multiple unsolicited applications are less likely, posing little damage to your credit score.

  • Comprehensive comparison of not just interest rates, but also all additional costs and terms, such as processing fees, prepayment and foreclosure penalties, and so on.

  • Transparent approach with each bank's advantages and disadvantages, as well as product characteristics, explained before application.

  • Attractive loyalty programmes and one-on-one free help.

  • If you apply to many banks, there's a good possibility your credit score will suffer as a result. That is why you must first compare and analyse loan schemes of all banks from myloancare.

How to apply for a loan through myloancare

Follow the steps below for a hassle-free loan application process via the myloancare website.

  • On the Myloancare website, you can apply for any loan package (

  • Examine and select loan offers from a variety of banks.

  • When you proceed, your information is sent to banks in real-time, and an offer is generated if you need a personal loan right now. For the rest, Myloancare and the bank teams will work together to process the loans.

  • Our knowledgeable consultants will contact you to assist you to narrow down your options to no more than two institutions.

  • The loan is disbursed at your home, so you don't have to go to the bank. Depending on the loan type, disbursement time can range from 1 hour to 2-3 days.

Myloancare customer service number

You can contact the customer service on Whatsapp through the myloancare phone number that is 9355239990. You can also write to the company at [email protected]

Frequently asked questions

Can i apply for a home loan through the myloancare website?

Yes, you can easily apply for a housing loan through a simple process on the myloancare website.

Where to find the myloancare app?

You can search for the myloancare app on Google Play or the Apple store. The link to the app is also mentioned on the company's website.

What all types of loan assistance can i get through myloancare?

You can get assistance and information about home loans, education loans, gold loans, car loans, personal loans, business loans and doctor loans. You can check for more services at the myloancare website.

How is myloancare different from other websites?

You can browse detailed rate sheets or comparisons from prominent banks, unlike other web portals. This comparison takes into account all important factors, such as interest rates, processing fees, prepayment and foreclosure fees, lock-in period banking servicing, and so on. The platform promotes comprehensive openness and customer empowerment.