General Questions

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. 2,000. 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.

Registration

Click here to create your lender profile by providing required information. Our team will contact you to verify your information. After completion of verification, you can login to our website and start offering loans to borrowers.agreement.

We care for your identity. Your identity (email, mobile no. and photo) is completely 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

You need to submit copy of only 2 documents:

  1. Pan Card
  2. Address Proof

If all documents are provided correctly, the approval is almost instant.

Yes, a company can also lend through LenDenClub.

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.

Lending

Listed borrowers are salaried employees or woman entrepreneurs, whose personal, professional and financial details are pre-verified. You can see all these details in the borrower’s 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.

Refer to the following table for the minimum and maximum investment limit:

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 Verification

We reject any borrower with default possibility or low credibility so that you get right borrowers to invest.

LenDenClub 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 LenDenClub Credit Score. This score will be mentioned in the borrower profile detail. Higher the score better the credit profile.

At LenDenClub, we charge the following fees from Lenders.

Registration fee :
LenDenClub charges Rs. 500 as one-time, non-refundable registration fee from lenders.

Facilitation Fee:

Facilitation Fee will be charged on the interest you receive. This fee will only be charged if you receive EMIs. The commission charged is 1% on ROI of upto 25%, 1.5% on ROI between 26% – 35% and 3% on ROI above 35%. For instance, if the ROI is 25%, we will charge 1% as Facilitation Fee and you will make 24%, if the ROI is 35%, we will charge 1.5% and you will make 33.5% and if the ROI is 48%, we will charge 3% and you will make 45%. You can view the calculation in details here.

Each and every step of the lending and borrowing process occurs online, through your LenDenClub account. Both, lender and borrower will be communicated about loan progress through their respective LenDenClub accounts.

You can lend for the tenure of 3 months to 24 months based on your repayment expectation.

Yes, the interest on the LenDenClub loans is taxable. Lender can download the income statement for calculation of taxes.

No, all the loans listed on LenDenClub platform are unsecured personal loans.

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. 1000 per instance.

Returns are 12.5% to 35% . Average returns of the platform has been around 25.5%. You can build your portfolio as per your return expectations.

The charges for cancelling the investment is Rs.1000

Yes. Lenders can earn extra income by referring someone and earn upto Rs. 10000/- . For more detail login to your LenDenClub account and go to dashboard.

Yes, after 3 months borrower can preclose the loan, no preclosure charges.

We believe in strict verification , so we don’t depend on 3rd party verification. We have inhouse team to verify each and every borrower.

Yes. Any family member can be a nomiee. We need pancard Copy of nominee to register

LenDenClub doesn’t share the data with anyone. Please read our privacy policy

The EMI is credited to Lender’s bank account. We require bank account to make the EMI.

Diversification is the best Solution of to reduce the risk. It will help to reduce risk and earn higher returns

Repayment

Lender will directly receive EMI amount in his/her bank account.

Monthly repayments are routed through LenDenClub pool account, which then gets transferred to your registered bank account.

In case the Loan amount is less than Rs. 100,000

a. If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 750
b. If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 1,500
c. If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 2,250
d. If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 3,000
e. 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 the Loan amount is more than Rs. 1,00,000 but less than Rs. 3,00,000

f. If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,000
g. If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 2,000
i. If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 4,000 h. If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 3,000
j. 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 the Loan amount is more than Rs. 3,00,000

k. If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,500
l. If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 3,000
m. If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 4,500
n. If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 6,000
o. 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 lenders and LenDenClub. These charges will be applicable on loans disbursed from April 1, 2017

The transfer of the loan will happen directly through lender’s bank account to the escrow account and from escrow account to borrower’s bank account.

Repayment are in form of Emi which includes Pincipal + Interest.

The payments are handled by SEBI authorized ESCROW agent. If LenDenClub shuts down, the loan agreements are still valid and all the payments are handled by ESCROW agent.

We sign NACH with the borrowers at the time of agreement which gives us the authority to debit the EMI.

Lenders can track all your investment in Lendenclub Dashboard.

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