Why Lenders come to P2P Platform?
Running & maintaining a bank is expensive as its necessary to rent the premises, staff, computer equipment, special software etc. Multiply these expenses by several branches and you would understand why banks eat up most of the profit of investors.
In P2P lending, there is no need to take into account these costs. Therefore, investors have a higher returns on their investment.
Additional Source of Income
Low Risk, High Returns
100% Secure Digital Process
Automatic EMI Deposits to Your Account
High Credit Score Rating Requirements
Invest starting from as low as Rs.5,000
Who is Eligible to become an Investor?
Lender may be any person (Individual/ Hindu undivided family (HUF) / partnership firm / company / body of individuals / society or any artificial body, whether incorporated or not)
Lender if individual must:
1. Be a resident of India and age not less than 18 years (for age proof – PAN card or Passport to be attached).
Lender in case of any other person including individual must:
2. Submit constitutional documents.
3. Have PAN.
4. Have identity proof (any of these): PAN / Aadhaar / Passport / Voter ID / Driving license.
5. Have an address proof (any of these): Passport / Voter ID / Bank statement / electricity bill (latest 3 months) / Aadhaar card.
6. Bank statement having IFSC code: Last 6 months.
7. Submit a declaration that the amount invested through the platform is not from the borrowed money.
8. Submit a declaration that the lender has not invested more than Rs. 50 lakhs across all P2P platforms.
9. Produce a certificate if invested more than Rs. 10 lakhs across P2P platforms from a practicing Chartered Accountant certifying minimum net worth of Rs. 50 lakhs.
10. Submit a declaration that the exposure to the single borrower at any point of time, across all P2Ps, shall be subject to a cap of Rs. 50,000/-.
Documents Required
Information provided by the applicant will be used strictly for official purposes, and IFPL safeguards client confidentiality. For further information, please read the IFPL Policy and Terms and Conditions mentioned on the website.
Identity Proof
1) Aadhar card/Digi locker Aadhar Card
2) PAN Card
3) Voter ID
4) Passport
5) Digitally Verifiable Document
Optional PAN and CKYC number and verification with PAN and Online Video.
Contact Details
1) Post paid Mobile Number where OTP can be sent and is also linked to Digital Locker/Aadhar card (linkage optional)
2) Email address for sending documents & information