ZestMoney Loan App Review

ZestMoney Loan App Review

ZestMoney is one of India’s fastest-growing fintech companies with core expertise in consumer lending. Millions of Indian households who didn’t have access to other financial tools like credit cards due to credit history parameters have benefited from the services of ZestMoney and eased out their payment requirements into EMIs. The additional support of 0% interest on certain EMIs ensures that buyers only pay for the exact product. Here you can also, check epaylater app & kreditbee loan app review.

Here is our review of the ZestMoney loan App Review where we delve deep into the pros, cons, fees, charges, and more. We attempt to answer the question of whether you should get one for yourself or not?

Fees and Charges

Processing fee Nil
Insurance fee N/A
Preclosure fee Nil

Pros & Cons

  • ZestMoney has 0% interest, no processing fee, and claims to have no hidden charges
  • Customers can get a credit limit of up to Rs 2 lakhs
  • ZestMoney is accepted across 10,000 online stores and 75,000 physical retail stores
  • ZestMoney has a 3-step processing – with no paperwork and no credit card requirements.
  • The repayment period ranges from 9 months to 2 years.
  • Customers don’t need to submit any extra documents for the loan processing.
  • No application fees.
  • Customers can use their credit limit to shop at over 1000+ merchant partners.
  • There is no transparency in terms of administrative fees.
  • Privacy is an issue
  • Customers have complained about their data being misused.
  • In some cases, the customer experience is unsatisfactory.

Interest Rates and Tenure

  • Interest rate: ZestMoney has a monthly interest rate of 2.5%, which makes it a total of 30% annually.
  • Tenure: 9-24 months
  • Processing time: 15 Minutes

Loan Amount

Customers can avail credit limit of up to Rs 2 lakhs.

Who Should Use the ZestMoney Loan App?

Customers seeking an easy and quick process for loan sanction can think of ZestMoney as an option. ZestMoney provides numerous advantages, including an effortless application online. Moreover, the process requires zero paperwork or credit card to obtain an instant loan without processing and pre-closure fee.

Eligibility Criteria

1. Age

Candidate should be between 18 to 65 years old

2. Location

Indian Resident

3. Income

ZestMoney has not kept any pre-set income requirements. However, the applications are reviewed independently based on candidates’ profiles and different data points before accepting the EMI application.

4. Documents required

  • Passport
  • driving licence
  • voters’ ID card
  •  PAN card
  •  Aadhaar letter issued by UIDAI
  • Job Card issued by NREGA signed by a State Government official.

Ratings and Reviews

Source: ZestMoney

  • Fees and charges – 4/5 Customers must understand that ZestMoney may apply administrative fees following the terms mentioned on the ZestMoney website. This administrative fee is non-refundable and comes in the disguise of a technology usage fee, which is availed while getting the loan facilitated. If the customer approves of this charge, the amount will not be refunded even if the loan is cancelled. Other than that, most major fees are waived off.
  • Eligibility – 4/5 You must provide personal information such as your name as it appears on your PAN card, date of birth information, your PAN number, your gender, and your current address to obtain a credit limit for 1000+ merchants. No preset income eligibility is mentioned.
  • Overall- 3/5 Transparency remains a big question for ZestMoney; many customers have ended up paying more, which is evident because the company is not RBI regulated; hence that also means that your personal information is at stake. In addition to this, the company utilizes Perfios Web-based finance applications, which can read the customers’ bank statements. Therefore, until you are in a real cash crunch, you must validate all the possibilities of taking a loan from ZestMoney or any other BNPL platform. Also, if one goes with such platforms, make sure you make timely payments, or you will be caught up in debt traps.


ZestMoney provides instant loans and has an entirely online process; ZestMoney users have also observed higher approval rates. While there may be downsides to going with ZestMoney including high-interest rates, if you are somebody with no formal financing options due to unstable credit history, you can go with ZestMoney.


What is the ZestMoney interest rate?

ZestMoney has a 0% interest rate for easy EMIs. It goes up to 2.5% per month (30% annually) in case you decide to extend your loan.

What is ZestMoney EMI?

ZestMoney offers a no-cost Emi facility without a credit card; you can purchase with 0% interest, and then the account earns you interest on the money that you have saved from paying upfront.

Is ZestMoney RBI registered?

No, ZestMoney is not RBI regulated.

Is ZestMoney interest-free?

ZestMoney offers 0% interest or no-cost EMI options.

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