Microfinance software for daily, weekly & monthly collections
NexMFI runs your whole loan book: member KYC, JLG groups and centres, loan products with flat or reducing interest, approval and disbursement, field collection sheets, UPI QR payments, WhatsApp alerts and accounts that post themselves - in any browser, on any phone.
- Daily · weekly · monthly
- JLG centres & individual loans
- UPI QR collection
What is NexMFI?
NexMFI is cloud microfinance and loan management software built by Qubha Infotech, Chennai, for microfinance institutions, NBFC-MFIs, women's lending foundations, NGOs and daily finance companies in India. It keeps members, groups, loans, collections and accounts in one system, and supports daily, weekly and monthly repayment in the same company.
Field officers collect centre by centre or route by route from their phone, borrowers can pay by UPI QR, and every rupee lands in the day book, ledgers and demand-versus-collection reports the moment it is posted.
Daily collection software, weekly JLG collection and monthly EMIs - in one system
Set the repayment frequency on the loan product. Run all three side by side; each gets the collection sheet that suits how it is actually collected.
Daily collection on agent routes
Individual borrowers, each assigned to an agent and route. The agent sees today's dues and posts each payment on the spot.
Collected every day- Agent collection sheet with bulk posting
- Daily cash submission by each collector
- Short tenures such as 100 days, worked out to the rupee
JLG groups at the centre meeting
Joint liability groups meet on a fixed day, time and place. The field officer opens the centre's sheet and collects from everyone at once.
Collected on the meeting day- Group collection sheet by meeting date
- Partial payments and unpaid weeks carried forward
- Group loan desk for a whole group's loans together
Monthly EMI loans
Larger individual or business loans repaid as monthly EMIs - in cash, at the branch, or online through a UPI payment link.
Collected once a month- EMI schedule with principal and interest split
- UPI QR or payment link per loan
- Preclosure quote on any day
From collection notebooks to a live loan book
Most growing MFIs start with registers, passbooks and a spreadsheet per branch. It works until the portfolio gets bigger than one person can reconcile at night.
Without NexMFI
- Collection sheets written by hand and re-typed at the branch every evening.
- Nobody knows the true overdue figure until month end.
- Interest and preclosure amounts worked out on a calculator - differently by each officer.
- Cash in the field that does not match the collection register.
- Accounts kept in a separate package, posted days later.
With NexMFI
- Collections posted on the phone at the centre or the doorstep.
- Demand vs collection, live - by branch, officer, product and day.
- One rule for interest - flat or reducing, from the loan product.
- Daily cash submission by every collector, reconciled the same day.
- Ledgers updated automatically with every disbursement and receipt.
MFI software features: everything a microfinance company runs on
From the first KYC to the balance sheet - one login, one set of numbers. NexMFI is complete loan management software for microfinance, not a collection add-on.
Members & KYC
Know every borrower properly.
- KYC detailsAadhaar, PAN, Voter ID, nominee, spouse, occupation, house type
- Phone OTP & GPSVerified mobile number and home location on the map
- Required documentsYou decide which documents must be uploaded
- Blacklist & importBlacklist defaulters; import members from Excel
Groups & centres
JLG lending, organised.
- Centre masterMeeting day, time, place, GPS location and photo
- PrintsDPN, group profile and loan card
- RO transferMove centres from one relationship officer to another
- Member transferMove a member to another group with history
Loan products
Your pricing, your rules.
- FrequencyDaily, weekly or monthly instalments
- InterestFlat or reducing balance; EMI-based or rate-based
- PricingStandard or advance deduction, processing fee
- ChargesPreclosure penalty and insurance percentage
Loan lifecycle
Apply, approve, disburse, close.
- Approval workflowApprove or reject with reason; steps switch on or off
- DisbursementApproved amount can differ from applied amount
- ScheduleEvery instalment: pending, paid, partly paid, overdue
- PreclosureQuote with interest to date and penalty, then close
Collections & payments
Every rupee, the same day.
- Collection sheetsGroup sheets by meeting date; agent sheets by route
- Dues listOverdue, yesterday, today, tomorrow, week, month
- UPI QR & payment linksCashfree, reconciled automatically
- Receipts & cashNumbered receipts and daily cash submission
Accounts & reports
Books that keep themselves.
- Auto-posting ledgersDisbursements and receipts post to double entry
- VouchersExpense, income and contra with attachments
- Final accountsDay book, trial balance, P&L and balance sheet
- MISDemand, collection, OD, outstanding, business reports
The real NexMFI, feature by feature
Every screen below is the live application. Borrower names, numbers and amounts are replaced with sample data.
Complete KYC, with a verified phone number
Every member is registered with full KYC before a rupee is lent. The phone number is verified by a one-time code on WhatsApp, and the customer profile shows the borrower's loans, repayments, credits and debits on one screen.
- Identification - Aadhaar, PAN, Voter ID and any other ID proof with its number.
- Family & nominee - marital status, spouse, nominee name, relation and nominee Aadhaar.
- Occupation - house type, occupation, employer and experience for credit decisions.
- Phone OTP on WhatsApp - the profile shows Verified once the member confirms the code.
- Documents & PDF profile - required documents you choose, and a downloadable member profile.
Every centre on the map, every meeting on the calendar
For joint liability group (JLG) lending each centre carries its GPS position, a Google Maps link, and its meeting place, day and time - so a new field officer can find it on the first day, and the collection sheet is ready for the meeting date.
- Geo location - latitude, longitude and a Google Maps link for every centre; directions to each member's home.
- Meeting information - place, day, time, EMI frequency and collection day.
- Group management - assigned field officer, group in-charge with phone, contact persons and group photo.
- Group collection - every member's due for the meeting date, posted for the whole centre in one pass.
WhatsApp on every due - and in every manager's morning
NexMFI connects to your own WhatsApp Business number through Meta's Cloud API. From the due list an officer can WhatsApp or call the borrower with one tap, and approved templates send collection messages and OTPs automatically.
- WhatsApp, call, collect - three buttons on every pending instalment, on desktop and phone.
- Template messages - import your approved WhatsApp templates and test them before going live.
- Member OTP - phone verification codes sent on WhatsApp.
- Share reports and payment links - send a report or a UPI payment link to anyone on WhatsApp.
A morning target and an evening scorecard, sent to every phone
Each morning agents get their own customers to collect and managers get the whole business; each evening, what was collected, what is pending, the best agent and who needs help.
- Morning briefing - today's target, arrears to recover, how yesterday went, month to date.
- Evening briefing - collected vs pending, change on yesterday, best agent.
- Your own rules - daily, weekly, before meeting time or end of day, to all users, a branch or chosen people.
- Mobile push & in-app - with a live preview of exactly what each person will see.
A loan collection app in every field officer's pocket
NexMFI opens in the phone browser on any Android phone or iPhone - no install, no app-store updates - with a phone layout of its own: bottom navigation for Dashboard, Members, Groups and Loans, and collection screens built for one hand.
- My Collections - demand vs collection for last week, yesterday, today, tomorrow, this week and this month.
- Cash today - opening cash, cash collected and expenses give the cash in hand to submit.
- Show a UPI QR on the spot when the borrower prefers to pay online.
- Share the day's position with the branch manager in one tap.
Let borrowers pay by UPI - and stop chasing receipts
NexMFI connects to your company's own Cashfree account, so money settles straight to you. Staff create a payment link or show a QR from the collect screen, and the instalment is marked paid in NexMFI by itself.
- Payment links - the member pays from their own phone; staff copy the link or share it on WhatsApp.
- Link by SMS - Cashfree can text the payment link to the member's mobile number.
- QR on the agent's phone - scanned on the spot and paid by UPI, card or net banking.
- Automatic reconciliation - webhook plus a check every few minutes, so a missed message only delays the receipt.
Flat or reducing interest, worked out the same way every time
Interest method, calculation method, fees and penalty live on the loan product, not in an officer's head. NexMFI builds the complete schedule at disbursement and splits every receipt into principal and interest.
- Partial payments - a part-paid instalment stays visible until it is cleared.
- Preclosure in one click - outstanding principal, interest to date and penalty, quoted instantly.
- Advance-deduction pricing - for products where charges are taken at disbursement.
- Loan card - printed for the borrower with the full schedule.
Dashboards, lending and settings
A few more of the screens your managers, officers and accountants use every day.
Microfinance EMI calculator
Work out a daily, weekly or monthly instalment on flat or reducing-balance interest - the same calculation NexMFI uses for its loan schedules.
From first meeting to loan closure
- Step 1
Onboard
Member KYC with OTP, documents and GPS; added to a group or an agent's route.
- Step 2
Apply & approve
Loan applied on a product; branch manager approves or rejects with a reason.
- Step 3
Disburse
Disbursement posts to the books and generates the full instalment schedule.
- Step 4
Collect
Daily, weekly or monthly - on the collection sheet, at the branch, or by UPI.
- Step 5
Close & report
Loan closes or is preclosed; demand, collection, OD and accounts are already up to date.
A screen for every desk in your MFI
Six ready roles, and granular permissions - apply, approve, disburse, collect, manage ledgers, view reports - so each person sees only what their job needs, only for their branches.
Admin
Branches, employees, roles, loan products, numbering, WhatsApp and payment settings.
Branch manager
Approves loans, watches the branch's demand, collection and overdue.
Loan officer
Onboards members and groups, applies for loans and follows up the centres.
Collection agent
Their own dues list, collection sheets, dashboard and daily cash submission.
Accountant
Ledgers, vouchers, cash and bank book, trial balance and final accounts.
Auditor
Read access to loans, collections, reports and login history.
How to choose the best microfinance software
What to check before you move your loan book - and how NexMFI compares with registers and with generic loan software.
| What to check | NexMFI | Generic loan software | Registers + Excel |
|---|---|---|---|
| Daily, weekly & monthly cycles | All three, side by side, per loan product | Often monthly EMI only | One sheet per cycle |
| JLG groups & centre meetings | Centres with meeting day, GPS, group sheet and DPN | Individual loans only | Hand-written centre sheets |
| Field collection | On the officer's phone browser, posted live | Branch desktop | Re-typed every evening |
| UPI collection | QR and payment links, auto-reconciled | Manual bank matching | Not tracked |
| Accounts | Built in, auto-posted, final accounts | Export to a separate package | Separate books |
| Control | Branches, roles, permissions, login history | Varies | None |
| Your branding | Your logo, colours and theme | Vendor branding | - |
| Support | The developers, in Chennai, on phone and WhatsApp | Ticket queue | None |
Live in four steps - with your running loans
We bring your existing members, groups and loans across, so nobody starts from zero.
Set up
Company, branches, employees, roles, receipt numbering, your logo and colours.
Migrate
Members, groups and employees from Excel; loans and documents from your old system.
Configure
Loan products, interest, fees, approval steps, WhatsApp templates and UPI collection.
Train & go live
Training for managers, officers and accountants, then support on WhatsApp and phone.
20 reports included
- Demand sheet & demand statement
- Collection & collection details
- OD (overdue) report
- Outstanding report
- Loan disbursement report
- Preclosure report
- EMI report & loan type report
- Business report by branch, RO, product, month
- Daily cash submission
- Day book & cash / bank book
- Ledger statement & trial balance
- Profit & loss and balance sheet
Every report exports to Excel and PDF, or goes out as a WhatsApp link. Morning and evening business briefings reach managers automatically.
Microfinance terms, explained
The words you will meet in any microfinance software - and where each one lives in NexMFI.
- JLG (joint liability group)
- A small group of borrowers who guarantee each other's loans and repay together at a regular meeting. In NexMFI: Groups, Group loan desk and Group collection.
- Centre meeting
- The weekly meeting where a field officer collects instalments from one or more groups at a fixed day, time and place. In NexMFI: the group's meeting details and GPS location.
- Daily finance
- Small individual loans repaid every day to an agent who visits borrowers on a route. In NexMFI: daily loan products and agent collection sheets.
- Demand sheet
- The list of instalments due for a date, centre or officer - what should be collected. In NexMFI: the Demand sheet and Demand statement reports.
- OD (overdue)
- Instalments that have fallen due and are still unpaid. In NexMFI: the dues list and the OD report.
- DPN (demand promissory note)
- The borrower's written promise to repay, signed at disbursement. In NexMFI: printed from the group.
- Flat vs reducing interest
- Flat interest is charged on the original loan amount for the whole tenure; reducing-balance interest only on the principal still outstanding. In NexMFI: set per loan product.
- Preclosure
- Repaying a loan in full before the last instalment, with interest to date and any penalty. In NexMFI: preclosure quote, preclose and the preclosure report.
- RO (relationship officer)
- The field officer responsible for a set of groups or borrowers. In NexMFI: RO transfer and the business report by RO.
Questions people ask about NexMFI
What is NexMFI?
NexMFI is cloud microfinance and loan management software built by Qubha Infotech in Chennai, India. It runs member KYC, JLG groups and centres, loan products, approval and disbursement, daily, weekly and monthly collections, UPI QR payments, WhatsApp notifications, double-entry accounts and microfinance reports in one system.
Does NexMFI support daily, weekly and monthly collection?
Yes. Each loan product has a daily, weekly or monthly repayment frequency, and all three can run side by side in the same company. Daily loans are collected by agents on their routes, weekly group loans centre by centre at the weekly meeting, and monthly loans as EMIs. The dues list shows what is due yesterday, today, tomorrow, this week and this month, and what is overdue.
Can it handle JLG group loans and centre meetings?
Yes. Members are organised into groups or centres with a meeting day, time, place and GPS location. The group collection sheet lists every member's due for the meeting date, and the field officer posts the whole centre's collection in one go. A group loan desk creates and processes loans for a whole group together, and DPN, group profile and loan cards can be printed.
Does it calculate flat and reducing-balance interest?
Yes. Every loan product is set to flat or reducing-balance interest, EMI-based or rate-based calculation, and standard or advance-deduction pricing, with processing fee, preclosure penalty and insurance percentages. NexMFI generates the full instalment schedule and splits every receipt into principal and interest. Try the EMI calculator above.
Can borrowers pay by UPI?
Yes. NexMFI connects to the company's own Cashfree account and creates a payment link or a QR code for a loan or a whole group. Staff share the link on WhatsApp, Cashfree can also send it by SMS, or the agent shows the QR on the spot; the borrower pays by UPI (GPay, PhonePe, Paytm), card or net banking, and the payment is reconciled against the loan automatically.
Is there a mobile app for field officers?
NexMFI is a mobile-friendly web application: field officers and collection agents open it in the browser on any Android phone or iPhone - no app to install - to see their dues, post collections and check their own collection dashboard. Push and WhatsApp notifications reach them on the phone.
Does NexMFI include accounting?
Yes. Disbursements and collections post automatically into double-entry ledgers. Expenses, income and contra entries are recorded with attachments, and the day book, cash and bank book, ledger statement, trial balance, profit and loss and balance sheet come straight from the same data.
Which reports does it provide?
Loan disbursement, outstanding, demand, demand sheet, demand statement, collection, collection details, EMI, OD (overdue), preclosure, loan type, business report by branch, RO, product and month, daily cash, day book, cash and bank book, ledger statement, trial balance, profit and loss and balance sheet - with Excel and PDF export and sharing as a WhatsApp link.
What is the best microfinance software for a small MFI in India?
Look for software that handles your actual collection model (daily, weekly centre meetings or monthly EMIs), flat and reducing interest, member KYC, field collection on a phone, UPI collection, built-in accounts, branch and role control, and a vendor who will migrate your existing data and support you in your language. NexMFI is built for exactly this set of needs - see the buyer's guide above.
What is MFI software?
MFI software (microfinance institution software) runs the day-to-day work of a microfinance lender: borrower KYC, groups and centres, loan products, approval and disbursement, instalment schedules, field collection, overdue tracking, accounts and management reports. NexMFI is MFI software built for Indian MFIs, NBFC-MFIs, NGOs and daily finance companies.
What is JLG loan software?
JLG loan software manages joint liability group lending: borrowers form small groups that guarantee each other, groups meet at a centre on a fixed day, and instalments are collected from the whole group at the meeting. NexMFI handles JLG groups and centres with meeting day, time and GPS location, a group loan desk, group collection sheets by meeting date, and DPN, group profile and loan card printing.
Is NexMFI a loan collection app?
Yes. Field officers and collection agents use NexMFI on their phone browser as a loan collection app: they see today's dues and overdue, open the centre or route collection sheet, post payments, show a UPI QR for the borrower to pay, and track their own collection dashboard. Nothing has to be installed from an app store.
What is daily collection software?
Daily collection software tracks loans repaid every day, typically small individual loans collected by an agent who visits borrowers on a fixed route. NexMFI supports daily repayment on any loan product, gives each agent a daily collection sheet and dues list, and records each collector's daily cash submission.
Can we move our existing loan data into NexMFI?
Yes. Members, groups and employees can be imported from Excel, and data and documents from an earlier system's database can be migrated into NexMFI during setup, so running loans continue with their history.
How is NexMFI priced?
NexMFI is offered as a cloud subscription in Standard and Enterprise editions. The price depends on the edition, number of branches and any customization; setup, data migration and training are included. Ask us for a quote.
Who makes NexMFI?
NexMFI is built and supported by Qubha Infotech Pvt Ltd, Chennai, Tamil Nadu, India. Setup, training and WhatsApp and phone support come from the same team that writes the software.
More business apps from the same team
See NexMFI running your own loan products
A 30-minute online demo. Tell us your collection cycle and interest method - we will show your daily, weekly or monthly schedule working end to end.