MinEMI uses artificial intelligence (AI) to analyse a borrower's complete credit bureau profile against the lending policies of more than 20 banks and non-banking financial companies (NBFCs). The platform evaluates whether an existing EMI is higher than it should be, whether a balance transfer could reduce the repayment amount, whether multiple loans can be consolidated into a single, lower-cost EMI and which lenders are more likely to approve the borrower's application.
The platform also aims to help individuals seeking new loans avoid unnecessary credit applications. Instead of approaching multiple lenders without knowing their eligibility, facing rejections and potentially affecting their credit scores, MinEMI users can assess their credit standing, approval prospects and available loan options before their profiles are presented to lenders.
Since its launch, MinEMI has crossed 1 lakh users, conducted in-depth credit profile analysis for more than 20,000 borrowers and facilitated loans worth over Rs 5 crore. MinEMI is a brand of Easyway Fintech Private Limited, incorporated in 2024. The company does not provide loans from its own books and instead charges borrowers a transparent service fee.
The idea behind the platform emerged from Makhija's personal experience in 2006, when he faced repeated rejections while applying for an education loan. Without receiving clear explanations from lenders about why he did not qualify, he lost an academic year before the State Bank of India (SBI) eventually sanctioned the loan that funded his MBA at NMIMS, Mumbai.
" When I applied for an education loan in 2006, I was turned away by multiple lenders without a clear explanation of why I did not qualify or what I needed to change. I eventually received the loan a year later, but the experience stayed with me. Over the years in digital lending, I saw that borrowers still face the same uncertainty. With MinEMI, every borrower has someone on his side of the table: an answer, a reason, and a next step. Access to credit matters, but so does understanding the decision behind it," said Kapil Makhija, Founder and COO, MinEMI.
Makhija brings 11 years of experience at ICICI Bank, where he worked across digital lending, loan sourcing, customer journeys and product architecture for secured and unsecured credit products.
The company is bootstrapped with friends-and-family capital and operates with a team of under ten employees. It is now expanding its services beyond personal loan consolidation and balance transfers to cover all retail loans and business loans.
By analysing borrower profiles against the lending criteria of multiple financial institutions, MinEMI aims to address gaps in loan eligibility assessment, refinancing and access to competitive credit options for retail India.
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