FAQs

We hope we clear all your queries here
LenDenClub is a peer to peer lending platform, which connects individual who wants to earn higher returns to those who wants to borrow money with transparency and at low cost.
LenDenClub provides an opportunity to earn higher returns as compared to any bank and you can start investing with as small as Rs. 5,000. At the same time, our process is completely transparent and does not have any hidden charges. Please read the terms and conditions to understand the risks involved in investment into P2P Loans.
At LenDenClub, lenders directly fund loans of verified borrowers. Borrowers repay their installments back to lender every month.
Any individual/entity, who has pan card and rupee denominated bank account in India, can become lender on LenDenClub.
to create your lender profile by providing required information. Our team will contact you to verify your information. After verification, you can login to our website and start offering loans to borrowers.
Listed borrowers are salaried employees or woman entreprenuers, whose personal, professional and financial details are preverified. You can see all these details in borrower profile.
Dividing portfolio among many borrowers will protect you against any possible default by the borrower. Diversification is the biggest risk mitigation in P2P Lending.
Minimum lending amount is Rs. 5,000; There is no limit on maximum lending amount.
LenDenClub verifies each borrower profile through five point credit check;
1. Personal Details Verification
2. Professional Details Verification
3. Financial Details Verification
4. Credit History Verification
5. Physical Personal Verification.
We reject any borrower with default possibility or low credibility so that you get right borrowers to invest.
LenDen Credit Score is calculated based on various permutation combination of borrower's verified details. We verify more than 100 data points of the borrower to derive LenDen Credit Score. This score will be mentioned in the borrower profile detail. Higher the score better the credit profile.
In case the borrower defaults or delay his installment payment, he/she will have to pay default interest amount for the delayed period if the delay period is more than a week. The borrower will also pay Rs. 250 as return charges to the lender and any other expenses if there are any.
Lender Protection Fund is a reserve fund created by LenDenClub to protect the lender's principal amount in case of default by the borrowers. Every quarter, LenDenClub will add a portion of their income to this fund.This amount will be used for payment of lenders who faced default in their installments. For more details kindly refer terms of services.
As per the default data registered by peer to peer loan platforms across the world, LPF should be more than enough to cover borrower defaults. However, it is a partial protection for lenders. It does not guarantee returns of investment.
LenDenClub charges Rs. 500 one time registration fees from lenders.
Lender will directly receive EMI amount in his/her bank account.
Each and every step of the lending and borrowing process occurs online, through your LenDen account. Both, lender and borrower will be communicated about loan progress through their respective LenDen accounts.
We care for your identity. Your identity (email, mobile no. and photo) is protected and not visible to any other member of the portal. Your name will be shared with your borrower only when he/she signs the agreement.
Monthly repayments are routed through LenDen pool account, which then gets transferred to your registered bank account
You need to submit copy of only 2 documents:
1. Pan Card
2. Address Proof.
Generally, we approve any lender request within 48 hours.
Tenure is the time frame for which loan is offered.
You can lend for the tenure of 3 months to 18 months based on your repayment expectation.
In case the borrower defaults your payment, you will get Rs. 250 EMI delay charges and default interest amount in case EMI payment is delayed more that 1 week after due date.
Yes, the interest on the LenDenClub loans is taxable. Lender can download the income statement for calculation of taxes.
Yes, company can also lend through LenDenClub.
No, all the loans listed on LenDenClub platform are unsecured personal loans.
The transfer of the loan will happen directly through lender's bank account to borrower's bank account. And at the time of repayment, money transfer will happen from LenDen pool account to the lender's bank account. LenDenClub never holds any money, we just charge the one-time processing fees for each loan.
Yes, you can change your commitment within 24 hours of committing the amount. For changing or canceling the amount mail us at cs@lendenclub.com or call our customer service officer. If the cancellation is after 24 hours of committing the amount, lender will have to pay penal charges of Rs. 500 per instance.
All the money will be given back to lenders only after the repayment of the loan by borrowers.
We verify your details to check whether the profile is created by a legal person/entity or not. The lender verification process is fully digital and you will not be disturbed while your profile is in verification stage.
The loan disbursed till 15th of the month will earn EMI from immediate month. If the disbursement is after 15th, the EMI will start from next to next month. However, in the immediate month borrower will be levied GAP interest.
LenDenClub is a peer to peer lending platform, which connects individual who wants to earn higher returns to those who wants to borrow money with transparency and low cost.
At LenDenClub, lenders directly fund loans of to verified borrowers. Borrowers repay in installments to lender every month.
No Hidden Charges, Fast Funding, Less Cost and Transparent process differentiates us from banks. There is no bar on smaller loan requirement as like bank, which may not process small loan requirements. At LenDenClub, you can avail loan for any personal purpose and any amount as small as Rs. 25,000.
Any Indian citizen, who has a pan card and bank account, can become borrower on LenDenClub.
to create your borrower profile by providing required information. It is just a 2 step process. Your profile will be assessed based on our credit & risk policies. Once approved, your profile will be listed on the platform. Any lender, who finds your profile suitable, will fund your loan.
Minimum borrowing amount is Rs. 25,000; Maximum borrowing amount is Rs. 2,50,000.
Each and every step of the lending and borrowing process occurs online, through your LenDen account. Both, lender and borrower will be communicated about loan progress through their respective LenDen accounts.
We care about your identity. Your identity (email, mobile no. and photo) is protected and not visible to any member of the portal. Your name will be shared with your lender at the time of signing the agreement.
Loan disbursement amount will be received in the bank account provided in your LenDenClub profile.
In your LenDenClub account, under My Account option, you can upload your bank account details.
You need to submit below mentioned documents:
1. Pan Card
2. Driving Licence/Passport/Aadhar Card/Voter ID
3. Last two months salary slips
4. Last two months salary account statement
5. Passport Size photograph.
case you are staying at rental premises, you need to submit a rent agreement copy as well.
Generally, we approve any borrower request within 18 hours.
Once you are listed as a borrower, you may get funding anytime between 24 hours (minimum time) to 30 days (maximum time).
You can get loan for any individual purpose except speculative investments. You can get loan for Car Purchase, Bike Purchase, House Purchase, Home Renovation, Credit Card Payment, Debt Consolidation, Family Function, Vacation Trip, Medical Expenses or for any other personal need.
Tenure is the time frame for which loan is offered.
You can avail loan starting from 3 months upto 18 months. The loan tenure should be in multiple of 3. Ex. 3 months, 6 months, 9 months etc.
LenDenClub charges two type of fees from borrowers.
(1) Fixed registration fee of Rs. 1,500 is charged from each borrowers at the time of registration. LenDenClub charges these fees to recover cost incurred towards assessment of the borrower. Registration fee is a one time fees paid by the user and it is non-refundable.
(2) Loan Success Fee is charged from each borrower after their funding is completed and documentation process starts. Processing fees amount depends on the risk category and the interest rate of the borrower as mentioned below:

Risk Category

Interest Rate Range

Arranger Fees

Very Low Risk

12.50% - 15.00%

2% or Rs.1,500 whichever is higher

Low Risk

15.01% - 20.00%

2% or Rs.1,500 whichever is higher

Moderate Risk

20.01% - 25.00%

3% or Rs.1,500 whichever is higher

High Risk

25.01% - 30.00%

3% or Rs.1,500 whichever is higher

Very High Risk

30.01% - 35.00%

4% or Rs.1,500 whichever is higher

No, there are no prepayment charges after payment of 3 successful EMIs.
You need to pay Rs. 250 to every lender as EMI return charges and Rs. 250 to LenDenClub as facilitation charges. In case, your payment is delayed more than 1 week after due date, you need to pay default interest of 2% per month on outstanding EMI amount.
Your registration approval may have been declined due to multiple reasons like weak credit profile, physical verification unsuccessful, documentary proof error etc. You can contact our customer service officer to get more details about it.
Probable reasons for loan not getting funded are unclear purpose of loan, very less loan description, weak credit profile etc. Proper loan purpose and loan description can help you in getting faster funding.
Your repayment is calculated by reducing balance method for the tenure selected by you.
No hidden charges are there. All the charges, including LenDenClub fees, are already mentioned.
No, you cannot change any details once submitted. However, you can contact our customer service officer for any changes/modification of your profile details.
You can send an email to our customer service officer to cancel your loan request.
Yes, if your profile is not suitable as per our credit & risk policy, your request may get rejected.
If your loan request is rejected, you can try again after 6 months.
Registration fees is one time fees which we take for doing verification.
Repayment dates are fixed between 1st & 10th of every month.
Loan amount will be directly transferred to your bank account.
To get the funding fast, write correct description of the loan.
Repayment takes place by auto debit from your account subject to approval by your bank. If auto debit is not approved/delayed by your bank the borrower has to transfer EMI amount to LenDen pool account from where it will be paid to respective lenders.

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