Samridhya provides an unmatched experience by providing a platform running on ONDC network to facilitate money lending by registered Non-Banking Financial Companies (NBFCs) or banks which is hassle-free, extremely quick, 100% paper-less & completely secure. It aims to process your loan in less than 10 minutes.
ONDC Financial Services
Financial services, other than Banking and Payments, are severely underpenetrated in India. While the most affluent 100 million Indians are served well by the market, the remaining 1300 million are largely ignored.
There are 2 reasons for this:
The primary reason for this is financial services are usually provided via manual or phygital (physical + digital) processes. The introduction of manpower results in increased customer acquisition costs (and this is without accounting for marketing costs). In turn, increased costs result in larger minimum ticket sizes for it to make economic sense for a company to acquire that particular customer. It follows that larger ticket sizes exclude the 1300 million individuals who are not affluent.
The second reason is the lack of standard Application Programming Interfaces (API) and processes that make integration between product manufacturers and product distributors simple. Low-cost smartphones and data have resulted in Indians now transacting digitally to a very large degree (UPI is an example). However, bilateral negotiations between players of different sizes and market power end up in rigid (and usually inefficient) practices of larger players that impose a cost on smaller players. Not only is the cost of integration driven up by this environment but also smaller players are deprioritized even if they have better solutions than players that have already reached significant scale. The challenge with players who have reached scale is that they are unwilling and/or unable to be agile in order to create new products for underserved segments.
This is true in credit, investments, and insurance.
The aim is to create technology to democratize financial services in India. ONDC will do this by creating networks to help the low-cost distribution of financial products, driving network discipline in order to ensure an inclusive and fair marketplace and a technology environment that aids innovation in financial products in a controlled manner.
Lending partners through ONDC network
1) Aditya Birla Capital
App Permissions Justification
**READ_SMS**
-OTP for Account Sign up using phone no
-OTP for Phone no verification by the Bank Account Aggrgeators
-OTP for Aadhaar eKYC for Loan Consent Signing
-OTP for Phone no based digital signature signing of the approved loan Key facts statement
Non Predatory Loans policy
Minimum and maximum period for repayment. : 3 Months to up-to 6 years
Maximum Annual Percentage Rate (APR). : 25%
Example of the total cost of the loan, including the principal and all applicable fees , sample monthly payment, sample interest calculation as per RBI guidelines.
-Loan amount (in Rupees) : 20000
-Total interest charge (in Rupees) : 3274
-Other up-front charges (in Rupees) : 400
-Processing fees (in Rupees) : 160
Insurance charges (in Rupees) : 240
Others (in Rupees) : 0
Net disbursed amount (in Rupees) : 19600
Total amount to be paid (in Rupees) : 23674
Annual Percentage Rate (APR) : 17.07%
Tenor of the Loan (months) : 24
Repayment frequency : Monthly
Number of installments : 24
Amount of each installment (in Rupees) : 970
Samridhya made the loan process easy and stress-free. Everything was clear from the start—no hidden fees or complicated steps. The approval was fast, and the money was disbursed quickly. Their team was helpful and kept me informed throughout. If you want a simple and reliable loan experience, Samridhya is a great choice.
Samridhya
RoboJanbaz
Samridhya is a really helpful loan app that makes the whole process stress-free. The app is simple to use, with a clean design and no unnecessary steps. Loan approvals are quick, and the entire process feels smooth from start to finish. Definitely a great option if you need quick financial help without any hassle.
Fast, Hassle-Free Loans with Minimal Documentation
Abhi__thakur
Samridhya is an excellent loan application that offers instant disbursal with minimal documentation. It eliminates the hassle of long queues and complex procedures, providing a smooth and efficient loan experience. The funds are directly credited to your account, making the entire process quick and convenient.
low interest rates
get2abhi
Finally I can get loan offers from all major players in one place. Took a 3 lakhs personal loan and amount was received in my account within an hour. Also I can track my EMI and outstanding amount in the app.
Fixed a crash during fresh install
Version 1.5.10
The developer, SAMRIDHYA INNOVATIONS PRIVATE LIMITED, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .
Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
Identifiers
Data Linked to You
The following data may be collected and linked to your identity:
Identifiers
Privacy practices may vary based, for example, on the features you use or your age. Learn More
Accessibility
The developer has not yet indicated which accessibility features this app supports. Learn More
Information
Provider
SAMRIDHYA INNOVATIONS PRIVATE LIMITED
Size
55.6 MB
Category
Finance
Compatibility
Requires iOS 16.6 or later.
iPhone Requires iOS 16.6 or later.
iPad Requires iPadOS 16.6 or later.
Mac Requires macOS 13.5 or later and a Mac with Apple M1 chip or later.
