Earntra

Q: What exactly is Earntra and how does it work?

A: Earntra is a mobile app platform that allows individuals to become authorized representatives for distributing credit cards and loans from leading banks and financial institutions. It's a subsidiary of Raaj Khosla & Co PVT LTD, operating under the brand name mymoneymantra. The app enables users to submit customer applications online, track leads in real-time, and earn commissions on successful conversions. It's designed for both experienced sales advisors and newcomers to the financial services industry.

Q: Who can become an Earntra partner?

A: Earntra is open to a wide range of individuals, including:

• Seasoned sales agents

• Employed persons

• Fresh graduates

• Real estate agents

• Chartered accountants

• Housewives

• Insurance agents

Anyone looking to start a career or side hustle in financial services can potentially become an Earntra partner.

Q: What products can I sell through Earntra?

A: Through Earntra, you can sell various financial products, including:

- Credit cards (e.g., IDFC First Bank Ltd credit cards)

- Personal loans (from partners like Kreditbee, Cashe, and L&T Finance Limited)

- Home loans

- Loans against property

- Business loans

Q: How do I get started with Earntra?

A: Getting started with Earntra is straightforward:

1. Download the Earntra app from your device's app store

2. Register as a partner

3. Complete the free online training provided by experienced professionals

4. Get certified as an Earntra agent

5. Start selling financial products and earning commissions

Q: What kind of training does Earntra provide?

A: Earntra offers free online training conducted by experienced professionals in the financial services industry. This training covers various aspects of selling credit cards and loans, including product knowledge, sales techniques, regulatory compliance, and how to use the Earntra app effectively.

Q: How much can I earn through Earntra?

A: Earnings through Earntra can vary widely depending on your sales performance, the products you sell, and the commission structures for different products. The app claims that partners can potentially earn "lakhs every month" with successful sales. However, actual earnings will depend on individual effort and market conditions.

Q: How and when are commissions paid out?

A: Earntra boasts one of the quickest payment cycles in the industry. Commissions are typically paid within 30 days of product issuance. The exact payout scheme varies for different credit card and loan products. Partners can track their earnings in real-time through the Earntra app.

Q: Is Earntra available throughout India?

A: Yes, Earntra is available for use anywhere in India. As long as you have a smartphone and internet connection, you can register and start working as an Earntra partner from any location within the country.

Q: What banks and financial institutions does Earntra partner with?

A: Earntra has partnerships with several leading financial institutions, including:

- IDFC First Bank Ltd (for credit cards)

- Krazybee Services Private Limited (Kreditbee) for personal loans

- Bhanix Finance & Investment Ltd (Cashe) for personal loans

- L&T Finance Limited for personal loans

Q: How does Earntra handle customer data and ensure data safety?

A: Earntra takes data safety seriously. While the app may collect various types of data (including location, personal information, financial information, photos, videos, and documents), this information is not shared with third parties. All data shared through the app is encrypted in transit. Users can also request to have their data deleted if desired.

Q: What are the minimum and maximum loan amounts available through Earntra?

A: For personal loans, the amounts range from a minimum of ₹10,000 to a maximum of ₹50 lakhs. However, the exact loan amounts may vary depending on the specific lender and the borrower's creditworthiness.

Q: What are the typical repayment tenures for loans offered through Earntra?

A: Repayment tenures for personal loans generally range from a minimum of 12 months to a maximum of 60 months (5 years). The exact tenure options may vary based on the lender and the loan amount.

Q: What interest rates can customers expect on loans through Earntra?

A: Interest rates (Annual Percentage Rate or APR) for personal loans typically range from a minimum of 10.5% to a maximum of 30%. The exact rate offered to a customer will depend on factors such as their credit score, income, and the lender's policies.

Q: Are there any processing fees for loans obtained through Earntra?

A: Yes, processing fees apply to loans. These can range from a flat fee of ₹500 to up to 2.5% of the loan amount. The exact fee will depend on the lender and the specific loan product.

Q: Can you provide an example of how a typical loan through Earntra might work?

A: Certainly. Here's an example:

For a personal loan of ₹5 lakhs at an interest rate of 10.5% for a tenure of 5 years:

- Monthly EMI: ₹10,747

- Principal amount: ₹5,00,000

- Total interest charges (at 10.5%): ₹1,44,817

- Loan processing fees (at 2.5%): ₹12,500

- Total amount paid after 5 years: ₹6,58,017

Q: How does Earntra support its partners in making sales?

A: Earntra provides several tools and features to support its partners:

• Real-time lead tracking

• Application form submission through the app

• Approval details and status updates

• Customer issue handling capabilities

• Record maintenance for all leads and sales

Q: Is there any cost involved in becoming an Earntra partner?

A: No, there is no upfront cost to become an Earntra partner. The app is free to download, and the training provided is also free of charge. Partners earn through commissions on successful sales.

Q: How does Earntra differ from traditional financial services sales roles?

A: Earntra offers a more flexible, digital-first approach compared to traditional roles. Partners can work from anywhere, at any time, using just their smartphone. The app provides real-time tracking and support, which may not be available in traditional setups. Additionally, Earntra's quick payment cycle and diverse product offerings set it apart from many traditional financial sales roles.

Q: What kind of customer support does Earntra offer to its partners?

A: Earntra provides support to its partners through various channels. Partners can seek assistance by writing to contactus@earntra.club. The app likely also offers in-app support features, though specific details aren't provided in the given information.

Q: Can Earntra partners sell products from banks or financial institutions not listed in the partnerships?

A: Based on the information provided, Earntra partners are authorized to sell products only from the listed partner institutions. These include IDFC First Bank for credit cards, and Kreditbee, Cashe, and L&T Finance for personal loans. Partners cannot sell products from banks or institutions not officially partnered with Earntra.