Artificial Intelligence
MyFi Launches MyCash: Instant Hassle-Free Cash Access
MyFi, an AI-powered wealth management platform, has unveiled MyCash, a revolutionary solution that enables users to access instant liquidity without disrupting their investments. Designed as a smarter alternative to high-interest loans, MyCash offers quick cash access within 10 minutes while keeping mutual fund investments intact.
Breaking Free from Costly Loans
Unexpected expenses—medical emergencies, business needs, or large purchases—often leave individuals with limited and costly financing options. Traditional personal loans and credit cards charge exorbitant interest rates, with credit card APRs ranging from 36% to 48% annually and personal loan APRs averaging 12% to 24%.
A recent survey by LocalCircles revealed that 58% of borrowers pay over 25% interest on their loans, forcing many to liquidate their assets or take on expensive credit. MyCash changes the game by providing instant cash access at just 10.5% interest, far lower than most credit options.
Instant Liquidity Without Selling Investments
Unlike conventional loans that require collateral or lengthy approval processes, MyCash allows users to borrow between ₹10,000 and ₹5 crore, using their mutual fund holdings as security. The fully digital process enables users to receive funds within minutes without any paperwork or branch visits.
MyFi’s secure lien-marking process ensures that investments continue to earn dividends and grow, while users gain immediate access to cash whenever required.
A Smarter AI-Driven Financial Solution
MyFi isn’t just about lending—it’s about intelligent financial management. The platform’s AI-powered analysis evaluates a user’s financial health and recommends MyCash as a smarter borrowing alternative if they’re paying high-interest credit card bills or other loans.
According to Kiran Nambiar, CEO and co-founder of MyFi, “Too often, investors face a tough choice—either break their investments or struggle with immediate financial needs. Whether it’s covering a sudden medical bill or making a down payment on a home, we believe access to liquidity should not come at the cost of long-term financial goals.”
With MyCash, users can make informed decisions, reducing their borrowing costs while maintaining financial stability.
Flexible Repayments with No Prepayment Penalties
One of MyCash’s standout features is its flexible repayment structure. Users only pay interest on the amount borrowed, and for the duration they use it. The principal can be repaid anytime, with zero prepayment penalties, ensuring cost-effectiveness and full control over personal finances.
Redefining Liquidity for Indian Investors
As more Indians look for transparent, efficient, and low-cost borrowing options, MyFi’s MyCash is set to revolutionize wealth management. By leveraging AI and digital solutions, MyFi ensures that users can access funds instantly, affordably, and without compromising their long-term investment goals.
With instant cash access, low interest rates, and smart AI-driven recommendations, MyCash is the future of borrowing—seamless, fast, and financially responsible.
