A renowned company ATD Fintech with their app ATD Money launches 'payday loan' which aims at helping the employees of the corporate sector during the time of financial crunch.
ATD Money app is a rapidly growing mobile application that provides instant and cashless loans to the working class.
Often we notice that working-class deals with financial crises during the end of the month due to any unforeseen expenses. So, to help the employees, ATD Money app has come up with 'Payday loan' that provides short term financial support to the corporate/organized sector employees to meet their immediate liquidity crunch basis their average monthly take-home salary.
While taking any loan, one of the major concerns is the interest which is charged on the principal amount that the borrower has to pay extra from his pocket. To ease the burden of the interest, ATD Money provides a unique method of cash back of interest paid for the loan by buying products from the online e-commerce website 'Myshopbazzar.com'.
"We are happy to launch Payday loan model and help the employees of the corporate sector during their financial emergency. In this model, we give them money which is a small amount for a short period of time. Banks and other financial institutions are not very keen on this kind of lending due to the nature of very small loan amount for a short time period. We would like to reach more people and offer them easy hassle-free services", said Manoranjan Mohanty, CEO, ATD Fintech Services Pvt Ltd.
The working sector with a salary range of 15-250k per month and aged between 22 to 50 years are eligible for Payday loans. The ATD Money application can be downloaded from Google play store. Today, most of the salaried employees are engaged in an organised sector in India who faces a financial crisis in their day to day life. Hence the market opportunity in this sector is very high.
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