Dhanwalle advertises an APR of 15%-35%. Its own Terms say 200 to 365%.
Last updated 29 July 2026. Quoted pages read on 29 July 2026.
Vanshika Micro Credit is a company licensed under section 8 of the Companies Act, 2013, incorporated on 15 July 2016, CIN U65999UP2016NPL084907.
Is Dhanwalle safe, genuine or legit?
Dhanwalle is a live brand operated by Vanshika Micro Credit, incorporated 15 July 2016, CIN U65999UP2016NPL084907. Whether Dhanwalle is safe is a judgement each borrower makes. As fact: Dhanwalle's published APR appears in three different forms across its own pages, and its Key Facts Statement records consent to physical visits to a borrower's workplace and residence.
Is Dhanwalle RBI registered?
Dhanwalle's own pages describe the company in two different ways. Its Fair Practice Code states: “Vanshika Micro Credit is a non-deposit taking Non-Banking Finance Company.” Its Privacy Policy states: “The Company is a Section 8, non-profit, non-deposit taking entity and is exempted from the provisions of Chapter III-B, 1934.” Both were live on 29 July 2026. This page does not resolve which is correct and makes no statement about whether Vanshika Micro Credit is or is not registered. Search the Reserve Bank of India's own published list for the company name, not the brand name.
These statements describe the company in different terms. Section 45-IA of the Reserve Bank of India Act, 1934 requires a non-banking financial company to hold a certificate of registration from the Reserve Bank. Certain not-for-profit companies engaged in micro-finance have been exempted from that requirement by notification, and Dhanwalle's own privacy policy claims an exemption. Absence from a public list does not by itself mean a company is operating unlawfully. Whether any registration requirement or exemption applies to Vanshika Micro Credit is a question for the Reserve Bank of India, and this page makes no finding either way.
How to check for yourself: the Reserve Bank of India publishes its own list of registered NBFCs and a separate list of companies whose certificate of registration has been cancelled. Search that list for the operating company's name — Vanshika Micro Credit — and not for the app brand, because the brand name will not appear on the Reserve Bank's list or on the register of companies. If a company describes itself to you as an NBFC, ask it in writing for its certificate of registration number, and check that number against the Reserve Bank's own list.
loantrap.org has not searched the Reserve Bank's list and makes no statement about whether Vanshika Micro Credit appears on it.
Check the Reserve Bank of India’s own published lists at rbi.org.in and report an entity at sachet.rbi.org.in.
What is Dhanwalle's interest rate and APR?
Dhanwalle's homepage states “APR: 15% - 35%”. Its Terms and Conditions state “APR (200 to 365%)”. Its Key Facts Statement prints, under one running heading, “Annual Percentage Rate - Effective Daily interest rate (in %) (Considering the ROI of 1.00% per day) 365.00” - an annual figure of 365.00 from a stated 1.00% a day, excluding the processing fee that Dhanwalle's own Terms define APR as including. All were live on 29 July 2026.
The three published forms, side by side
- • Homepage “Rates and Charges”: “APR: 15% - 35%”
- • Terms and Conditions (a definitions clause): “APR (200 to 365%)”
- • Key Facts Statement: “Annual Percentage Rate - Effective Daily interest rate (in %) (Considering the ROI of 1.00% per day) 365.00”
These statements describe the company in different terms. This page does not resolve which is correct.
“Annual Percentage Rate (APR) APR (200 to 365%) means the all-inclusive cost of the loan, including cost of funds, credit cost and operating cost, processing fee, verification charges, maintenance charges, etc.”
This is a definitions clause, quoted in full so the reader can see that. It is not a statement that the company charges 200 to 365%.
The homepage calculator, at its default settings, showed: “Loan Amount: Rs. 5000 · Tenure: 7 Days · Interest Rate: 30% · Total Payable: Rs. 5028.77”. This site’s calculation, from those inputs: 5,000 × 0.30 × 7 ÷ 365 = Rs. 28.77, and 5,000 + 28.77 = Rs. 5,028.77 — consistent with simple interest at 30% per year. That is this site’s reading of the calculator’s output, not a statement by the company.
Dhanwalle customer care number, complaint and grievance email
Dhanwalle publishes the phone number +91 92114 60800 and the email address info@dhanwalle.com on its own website, read on 29 July 2026. Any other customer care number circulating online is not published by the company. Complaints that are not resolved can be escalated to the Reserve Bank of India, and conduct complaints to the national cybercrime portal.
| Published by the company itself | +91 92114 60800 · info@dhanwalle.com |
| MCA record, consulted 29 July 2026 | Village Bakhriya, Post Mangalpur, Lohta, Varanasi, UP 221107 |
| Website, “Registered Office” | VO-656 AT WE WORK BERGER ONE, SECTOR16B ... Noida 201301 |
| Website, “Corporate Office” | 1111 Surya Kiran Building, K.G. Marg, Connaught Place, New Delhi 110001 |
| Privacy policy | 520 Somdatt Chamber-II, Bhikaji Cama Place, New Delhi 110066 |
Official escalation channels
- • RBI Sachet — sachet.rbi.org.in — to report an entity or an unlawful lending practice.
- • RBI Complaint Management System — cms.rbi.org.in — the RBI Ombudsman, through the Centralised Receipt and Processing Centre (CRPC), after first raising the complaint with the lender’s grievance officer and allowing 30 days.
- • National Cyber Crime Reporting Portal — cybercrime.gov.in — or helpline 1930 — for threats, abuse, data exposure or misuse of phone data.
- • Consumer commission — file online through e-Jagriti (the portal that replaced e-Daakhil) — for deficiency in service or an unfair trade practice.
- • Check the lender yourself — the RBI publishes the list of NBFCs and ARCs registered with it, and a separate list of those whose certificate of registration has been cancelled. Search by the operating company’s name, not the app brand.
- • Free government legal aid — NALSA / SLSA / DLSA, your right under Article 39A. How to apply.
Can Dhanwalle call my office, my family or my contacts?
Dhanwalle's Key Facts Statement, printed immediately after the APR entry, reads: “Henceforth visiting (physically) your Workplace and Residence has your concurrence on it.” Its Privacy Policy also records consent to disclose personal and sensitive personal information to “branches, affiliates, service providers, agents, contractors” and third parties. Whether any contact is lawful is for the regulator and the courts.
“Henceforth visiting (physically) your Workplace and Residence has your concurrence on it.”
Printed immediately after the APR entry. The Key Facts Statement also records consent to disclose personal and sensitive personal information to “branches, affiliates, service providers, agents, contractors” and third parties.
How do I file a complaint against Dhanwalle?
Complaints about Dhanwalle can be filed on the Reserve Bank of India's Sachet portal at sachet.rbi.org.in and its Complaint Management System at cms.rbi.org.in. Conduct involving threats, abuse or misuse of phone data can be reported on the National Cyber Crime Reporting Portal at cybercrime.gov.in, or by calling 1930. Keep dated screenshots of every call, message and email.
Agar Dhanwalle se paisa nahi aaya, ya charges kat gaye — neeche documents kya kehte hain, woh diya gaya hai.
Who owns Dhanwalle? Which company is behind it?
Dhanwalle is operated by Vanshika Micro Credit, CIN U65999UP2016NPL084907, incorporated 15 July 2016 at RoC Kanpur. The same company operates Mudraboxx. Neither brand name is itself a registered company name. Trading under a brand name is common and lawful, but it means a borrower checking any register must search the company name, Vanshika Micro Credit.
Dhanwalle loan not received, or charges deducted - what the documents show
On one documented Dhanwalle loan, on documents reviewed by this site, Rs. 76,000 was sanctioned, a processing fee of Rs. 7,600 including 18% GST was deducted before disbursal, and Rs. 68,400 was paid out on 22 May 2026. Tenure 40 days; repayment fell due 1 July 2026; total demanded Rs. 1,06,400.
The figures below are taken from the sanction documentation, Key Facts Statement, bank credit record and demand communication of one salaried borrower in Bengaluru, reviewed by loantrap.org on 29 July 2026, and are published with that borrower's consent. They relate to a single loan. loantrap.org does not say they are typical of Dhanwalle's lending generally. Any company named may respond at any time through the corrections channel below, and we will publish the response.
| Sanctioned | Rs. 76,000 |
| Processing fee | Rs. 7,600 (incl. 18% GST), deducted BEFORE disbursal |
| Net received | Rs. 68,400 on 22 May 2026 |
| Tenure | 40 days |
| Repayment due | 1 July 2026 |
| Total demanded | Rs. 1,06,400 |
| Interest, as stated | 1% per day |
| Late payment, as stated | 2% per day |
| NACH bounce charge | Rs. 1,000 |
This site’s calculation — method and denominator shown
76,000 − 7,600 = 68,400— net advanced to the borrower.1,06,400 − 68,400 = 38,000— excess over the sum advanced.38,000 ÷ 68,400 = 55.56%— of the sum advanced, over 40 days.55.56% × 365 ÷ 40 = 506.94% a year— simple annualisation — not a rate stated by the company.1% a day × 365 = 365% a year; 2% a day × 365 = 730% a year; 1% + 2% = 3% a day = 1,095% a year— the company states the daily rates; it does not state a combined annual figure.
These are this site’s calculations from the documented figures above. They are not rates stated by the company.
How the company describes itself
“Vanshika Micro Credit is a non-deposit taking Non-Banking Finance Company.”
“The Company is a Section 8, non-profit, non-deposit taking entity and is exempted from the provisions of Chapter III-B, 1934.”
“Mudraboxx is operated by Vanshika Micro Credit, a Section 8 company registered under the Companies Act, 2013 and exempted under Chapter III of the RBI Act, 1934.”
The Dhanwalle privacy policy says “Chapter III-B, 1934”; this page says “Chapter III of the RBI Act, 1934”. Both are reproduced exactly as published. This site does not resolve which is correct.
The privacy policy repeatedly refers to the company as “the LSP”. This site searched both websites on 29 July 2026 and did not find a lender named on either.
These statements describe the company in different terms. This page does not resolve which is correct.
Six things the public record and the company’s own pages show
- 1
Corporate form
Vanshika Micro Credit is a company licensed under section 8 of the Companies Act, 2013 (MCA record, 29 July 2026). Its own advertising states “Net Salary >= Rs. 40,000” and “Loan Amount: Rs. 5,000 - Rs. 1,00,000” (Dhanwalle homepage) and “Rs. 5K” to “Rs. 10L” (Mudraboxx homepage), all read 29 July 2026. Section 45-IA of the Reserve Bank of India Act, 1934 requires a non-banking financial company to hold a certificate of registration from the Reserve Bank; certain not-for-profit companies engaged in micro-finance have been exempted by notification. Whether any exemption applies to Vanshika Micro Credit is a question for the Reserve Bank of India, and this page makes no statement either way.
- 2
Capital
The MCA record consulted on 29 July 2026 shows authorised and paid-up capital of Rs. 1,00,000. Mudraboxx's homepage advertises loans up to “Rs. 10L”. Paid-up capital is not a measure of how much a company can lend; a lender may fund loans from borrowings or other sources; neither site states where the funds lent are sourced from.
- 3
Addresses
The MCA record consulted on 29 July 2026 gives the registered office as Village Bakhriya, Post Mangalpur, Lohta, Varanasi, UP 221107. The Dhanwalle website gives its “Registered Office” as “VO-656 AT WE WORK BERGER ONE, SECTOR16B ... Noida 201301” and its “Corporate Office” as 1111 Surya Kiran Building, K.G. Marg, Connaught Place, New Delhi 110001. The privacy policy gives 520 Somdatt Chamber-II, Bhikaji Cama Place, New Delhi 110066. The addresses are different.
- 4
Brand and company name
A search of the MCA company-name index on 29 July 2026 returned no company named “Dhanwalle” or “Mudraboxx”. Trading under a brand name different from the company's registered name is common and lawful. What it means for a borrower is that any register search must use the company name.
- 5
Two brands
Dhanwalle and Mudraboxx are operated by the same company on the sites' own statements, on two websites, advertising different rate ranges: Dhanwalle's homepage states “APR: 15% - 35%” and Mudraboxx's homepage states “Min 6%” to “Max 36%”, both read 29 July 2026.
- 6
Filing record
The MCA record consulted on 29 July 2026 shows the last balance sheet filed was for the year ended 31 March 2023. No financial statements are recorded for FY2024 or FY2025. Status “Active”. No charges registered.
What the app says it collects
“We collect, store and monitor only SMS sent by 6 - digit alphanumeric senders.”
Six-character alphanumeric sender IDs are the format used by Indian telecom operators for transactional messages, including one-time passwords and bank alerts. Dhanwalle’s privacy policy does not state what use is made of the messages it says it collects, stores and monitors.
“We collect and transmit a list of specific installed applications' metadata information which includes the application name, package name, installed time, updated time, version name and version code of each installed application on your device.”
The policy also lists device location, camera, microphone, PAN, Aadhaar, employer name, monthly salary and bank account number, and repeatedly calls the company “the LSP”.
The RBI’s Digital Lending Directions require data collection to be need-based and with the borrower’s explicit consent. This page makes no finding of any breach.
The compliance framework the site publishes
“The Board has approved the policy on appointment of CRO as per the guidelines prescribed in Para 95 of the Master Directions dated October 19, 2023”
The same page lists a Chief Compliance Officer, a “Fit and Proper Criteria for Directors” policy, and nine board committees: Audit; Nomination and Remuneration; Asset Liability Management; Risk Management; CSR; IT Strategy; Stakeholders Relationship; Loan, Investment and Borrowing; Securities Allotment.
“The DFTPL-PLR is an estimation of a benchmark interest rate approved by the Board of Directors of the Company, from time to time.”
This site did not find a definition of “DFTPL” on the site as read on 29 July 2026.
“Claims for refund or waiver of charges/penal interest/additional interest would normally not be entertained by the Company.”
The same policy governs a “Corporate and SME Segment” through “the respective Credit Team(s)” and prices “cheque swaps”, “cash handling charges”, “commitment fees”, “part disbursement charges”, “letters ceding charge on assets/security” and “security swap & exchange charges”.
What the company claims in its own marketing
Each line below is the company’s own claim, published on its own site and read on 29 July 2026. This site has not verified any of them and states no view on their accuracy.
- • “No hidden charges, complete transparency in every step” — the company’s own claim
- • “Low Interest Rates” — the company’s own claim
- • “Trusted & Compliant” — the company’s own claim
- • “No Credit Check - No credit history? No worries.” — the company’s own claim
- • “Trusted by 1,00,000+ Customers” — the company’s own claim
- • “Proudly serving over one lakh satisfied clients” — the company’s own claim
- • “Dhanwalle Personal Loans | Regulated Financing Solutions for Working Professionals | Apply Today” — the company’s own claim
What Dhanwalle’s own documents say (verbatim)
Reproduced exactly as published, including spacing and punctuation. An oddity in a quotation is evidence, so nothing here has been tidied.
“Vanshika Micro Credit is a non-deposit taking Non-Banking Finance Company.”
“The Company is a Section 8, non-profit, non-deposit taking entity and is exempted from the provisions of Chapter III-B, 1934.”
“The Board has approved the policy on appointment of CRO as per the guidelines prescribed in Para 95 of the Master Directions dated October 19, 2023”
The same page lists a Chief Compliance Officer, a “Fit and Proper Criteria for Directors” policy, and nine board committees: Audit; Nomination and Remuneration; Asset Liability Management; Risk Management; CSR; IT Strategy; Stakeholders Relationship; Loan, Investment and Borrowing; Securities Allotment.
“Annual Percentage Rate (APR) APR (200 to 365%) means the all-inclusive cost of the loan, including cost of funds, credit cost and operating cost, processing fee, verification charges, maintenance charges, etc.”
This is a definitions clause, quoted in full so the reader can see that. It is not a statement that the company charges 200 to 365%.
“Annual Percentage Rate - Effective Daily interest rate (in %) (Considering the ROI of 1.00% per day) 365.00”
365.00 is the ANNUAL figure derived from a stated 1.00% per day. It is not a daily rate of 365.00. It excludes the processing fee, although the Terms define APR as including it.
“Henceforth visiting (physically) your Workplace and Residence has your concurrence on it.”
Printed immediately after the APR entry. The Key Facts Statement also records consent to disclose personal and sensitive personal information to “branches, affiliates, service providers, agents, contractors” and third parties.
“The DFTPL-PLR is an estimation of a benchmark interest rate approved by the Board of Directors of the Company, from time to time.”
“Claims for refund or waiver of charges/penal interest/additional interest would normally not be entertained by the Company.”
The same policy governs a “Corporate and SME Segment” through “the respective Credit Team(s)” and prices “cheque swaps”, “cash handling charges”, “commitment fees”, “part disbursement charges”, “letters ceding charge on assets/security” and “security swap & exchange charges”.
“We collect, store and monitor only SMS sent by 6 - digit alphanumeric senders.”
“We collect and transmit a list of specific installed applications' metadata information which includes the application name, package name, installed time, updated time, version name and version code of each installed application on your device.”
The policy also lists device location, camera, microphone, PAN, Aadhaar, employer name, monthly salary and bank account number, and repeatedly calls the company “the LSP”.
“Mudraboxx is operated by Vanshika Micro Credit, a Section 8 company registered under the Companies Act, 2013 and exempted under Chapter III of the RBI Act, 1934.”
The Dhanwalle privacy policy says “Chapter III-B, 1934”; this page says “Chapter III of the RBI Act, 1934”. Both are reproduced exactly as published. This site does not resolve which is correct.
“Lenders select borrowers, funds are transferred via escrow accounts, and loans are governed by agreements.”
Other brands covered on this site are operated by companies that appear on the Reserve Bank of India's published list of registered NBFCs, and what is reported about them concerns their pricing and their conduct as registered firms. Vanshika Micro Credit describes itself in different terms on different pages of its own websites. This site makes no statement about whether it is or is not registered, or about whether any exemption applies to it.
Related pages
Corrections and right of reply
Every page quoted here was read on 29 July 2026. Any company named on this page may write to grievance@loantrap.org.
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Grievance Officer (IT Rules 2021): grievance@loantrap.org — complaints acknowledged within 24 hours and disposed of within 15 days.
About this page
This page is public-interest reporting from primary documents. Quotations are reproduced as read on the stated date; websites change. Nothing on this page is legal or financial advice.
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Last updated and what changed
Last updated 29 July 2026. Quoted pages read on 29 July 2026.
- • 29 July 2026 — Page published. All quotations read first-hand from the live pages on this date.