KarmaLife |EWA, Personal Loans

1. Who are we and what do we do?

We are KarmaLife, an Indian fintech company providing earnings-linked financial services to gig and blue collar workers in India. We partner with organizations to offer their workers earned wage access and other financial liquidity solutions to help them stabilize cash flows, grow earnings and become more financially resilient.

2. Who is eligible to use KarmaLife services?

KarmaLife services are available exclusively to whitelisted workers of partner organizations. Users must be Indian residents and actively working with our partners.

3. Why choose KarmaLife?

Through KarmaLife, users can seamlessly access funds in times of need, enjoy self reliance, and strengthen their credit scores to avail future formal credit.

4. What Our Customers Like About Us:

* Quick Application-to-Approval Process
* Fully digital flow
* Financial Security and Reduced Stress
* 24/7 Credit Access
* Easy repayment from user earnings
* Proactive customer Support
* Available in 4 Native Languages

5. What are the Partner benefits?

* Up to 50% boost in worker retention with active KarmaLife profile
* Decreased misuse of Cash-on-Delivery (COD)
* 10% increase in worker productivity and attendance

6. Awards & Recognition:

* The Catalyst Fund, Winter 2020 Cohort
* CGAP, Partnership to pilot innovative services for digital platform workers, 2021
* Accion’s Center for Financial Inclusion, Inclusive Fintech 50, 2022 Cohort

7. What are Fees & Charges?

Example Amount, Tenure, Fees & Chargesbreakup (for reference only):
✅ Loan Amount: ₹50,000
✅ Tenure: 3 months
✅ Interest Rate: 36% p.a. (Reducing Balance)
✅ Processing Fees (incl. GST): ₹1,298
✅ Monthly EMI: ₹17,676
✅ Total Interest Payable: ₹3,729
✅ Maximum Annual Percentage Rate (APR): 40.27%
✅ Disbursed Amount: ₹50,000 − ₹1,298 = ₹48,700
✅ Total Amount Payable: ₹53,727

*Note: These numbers are for representation purposes only. The final interest rate & APR will depend on the user’s credit assessment, as decided by KarmaLife’s Lending Partner(s)/NBFCs.

8. We are 100% RBI Complaint

KarmaLife has partnered with RBI authorized, regulated NBFCs:
* Avanti Finance Private Limited, RBI-registered NBFC (https://www.avantifinance.in/our-partners)
* Niyogin Fintech Limited, RBI-registered NBFC (https://niyogin.com/digital-partnership)
* Trillionloans Fintech Private Limited, RBI-registered NBFC (https://www.trillionloans.com/lending-partners.html)
* Bhawana Capital Private Limited, RBI-registered NBFC (https://bhawanafinance.com/karmalife/)

9. Our Safety & Security protocol

Data Security measures
* Encryption of data at rest and in transit
* Data of customers/users stored & processed in India

Infrastructure & Network Security
* KarmaLife’s product is VAPT certified by a CERT-IN empanelled auditor Data Ownership
* Users can delete their personal information from the KarmaLife databases at any time by contacting support.
* Privacy Policy: https://karmalife.ai/privacy-policy
* Terms & Conditions : https://karmalife.ai/terms-and-conditions

For any questions or suggestions, please contact us at support@karmalife.ai