Frequently Asked Questions

Generally asked queries

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General Questions(10)

LenDenClub, an RBI registered NBFC P2P, is India’s Largest Peer-to-Peer (P2P) Lending platform. It is a new age investment option which connects investors looking to invest their money with credit worthy borrowers in need of money. Peer-to-peer lending in India happens through the safe and investor-friendly regulations announced by the Reserve Bank of India.
We are happy to share that with a registered base of over 10 lakhs investors, we have been delivering estimated returns of 12% p.a. for the last 5 years.

Each and every step of the lending and borrowing process is conducted online, through your LenDenClub account. You get a complete profiling of the borrower on the app along with the platform’s risk assessment for you to make an informed decision. Subsequently, all updates about the loan process are shared with lenders and borrowers on the respective accounts.

The key to managing your risk in P2P lending is diversification and reinvestment.

Diversification: Always invest smaller amounts in more number of borrowers. The usual recommendation is to invest as low as INR 500 per borrower to limit your exposure, subject to the platform’s minimum permissible limit for a loan.

Reinvestment: It refers to further investing the amount received from repayments to increase your spread of borrowers and for you to get a compounded benefit on your investments. In simpler terms, let your earned money , earn more for you!

All this comes in addition to our strong credit model which screens the borrower over 200 data points and gives you a risk profiling for the borrowers.

Pre-Registration Queries(4)

Click Here to sign up as an Investor. You need to provide a few details and upload some KYC documents so that we can verify your account. Approval of your application is usually automated and instantaneous.

Once your investor application is approved, you can transfer the amount to your LenDenClub Account. Login to your LenDen account, click on ‘Add Funds’ to find the account details to transfer the funds. It takes 15 minutes to 2 hours to get the amount credited to your LenDenClub account.

You can also add funds using UPI option through our mobile app

Approval for an Investor is almost instant if all documents provided are proper and valid. You can start lending as soon as you have signed up. If your approval is taking longer than usual, you can email us at invest@www.lendenclub.com . Our customer support team will immediately take the required action on this.

We care for your identity. Your personal details such as email, mobile no., photo, etc. are protected in our secure servers.

These data are not shared with any third party sources without your consent. These data are also not visible to any other member on the portal. Only at the time of agreement signing, the borrower may see your name on the agreement.

We care for your privacy.

You may learn more about our privacy policy here: https://www.lendenclub.com/privacy-ageer/

Account Related Queries (7)

You can add funds via UPI or NEFT/IMPS mode of transaction. To add funds via NEFT / IMPS transaction, you will need to add beneficiary account which is also your lender account. Your unique lender account details will be available in the mobile app under “Add funds” tab.

Note- Usually the transaction is updated on a real-time basis. However, considering some rare situation, it may take upto 2-3 hours for the update.

We have a very convenient and hassle-free process to withdraw funds from your lender account. You can place the withdrawal request through your LenDenClub account as shown below-

Login to the LendenClub account using App or web portal > Click on “Add funds” tab > Select withdrawal option and enter the amount > Place the request. Withdrawal requests are processed in 24 to 48 working hours.

You can change your registered details using the chatbot service available in the android mobile application for active users.

In case of any difficulty, you can always reach us on invest@www.lendenclub.com

Investment Queries (7)

You can download the Investment history report available under ‘Portfolio’ in your account and get desired details of each investment. This report will provide you all the details of your investments like EMI date, EMI amount, Investment value, Tenure, Status, Principal outstanding/repaid, Interest outstanding/repaid, etc.

You may also download this report using the chatbot service.

Diversification is a key factor in a P2P investments. Hence, it is our suggestion to invest minimum amount in each profile. Please refer the details given below for better clarity-

Loan Amount (Min to Max investment value)

5,000 – 12,500 (500/- to 2000/-)

20,000 – 1 lakh (1000/- to 5000/-)

1 lakh – 2.5 lakhs (2000/- to 10,000/-)

2.5 lakhs – 10 lakhs (2000/- to 15,000/-)

1. Gold Plan:

• It’s the premium plan where you get access to the in house Artificial intelligence tool, Auto Invest (AI) that invests your money on your behalf and gets optimized returns for you (estimated 13.5% p.a.)

• We generally recommend to invest an amount of above INR 1 lakh and up to INR 50 lakhs for a period of 24 months, for you to fully benefit from the plan. But, please feel free to start investing with smaller amounts, experience the platform and then increase your investments

• This plan also entitles you to a Relationship Manager along with several other features like waiver on the fee to change your bank account details, priority access to borrower profiles, amongst others

• This is available as a complimentary upgrade for you

2. Silver Plan:

• It’s a privilege plan where you may expect returns of 12% p.a.

• This also gives you access to Auto Invest (AI).

• We recommend investing for a duration of 12 months and amount between 50,000 to 25 lakhs to reap the AI benefits

• This plan also includes features like a Relationship Manager, priority access to borrower profiles, etc.

• This is available as a complimentary upgrade for you

3. Basic Plan:

• This is the default plan in case you do not avail for a Gold/Silver plan

• In this plan, you will be required to plan out your own investments and manually screen borrower profiles and invest

• AI feature is not available here

• Given the lack of system intelligence, it might be difficult for you to reach your targeted returns in targeted time horizon.

• Please track the account actively to ensure that your money from repayments does not remain idle

• Services like Relationship Manager and priority Auto Invest are not available in this plan

Repayment Queries (4)

You can download the ‘Investment history’ report available under ‘Portfolio’ and get desired details of each investment.

You may also use the chatbot service to download this report.

The EMI repayments done through auto debit (ECS) mandate get debited to your account usually on the repayment date. However, if the payment is made manually by the borrower, it might take up to 3 days for the same to be credited in your account.

In case of InstaMoney or InstaMoney Plus

If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 250
If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 500
If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 750
If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 1000
For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount

In case of a Personal Loan between INR 20,000 to INR 1 Lakh

If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 750
If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 1,500
If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 2,250
If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 3,000
For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount

In case of a Personal loan between INR 1-3 lakhs

If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,000
If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 2,000
If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 3,000
If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 4,000.
For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.

In case of a Personal loan between INR 3-5 lakhs

If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,500
If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 3,000
If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 4,500
If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 6,000
For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.
In case of a Personal loan more than INR 5 lakhs

If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,500
If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 3,000
If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 4,500
If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 6,000
For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.

In case of a Personal loan more than INR 5 lakhs – Disbursed on or after 9th June 2021

If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 2,000
If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 4,000
If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 6,000
If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 8,000
For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.

All these charges will be divided among investors and LenDenClub. These charges will be applicable on loans disbursed April 1, 2017, onwards. The delay charges are distributed in the ratio of 40:60 wherein 40% is credited to the lender and 60% to Lendenclub.

For Borrower side FAQsClick here