PARTICIPANTS ELIGIBILITY CRITERIA
For Borrower
For Lenders
Borrower may be any person (Individual / Hindu undivided family (HUF) / partnership firm / company / body of individuals / society or any artificial body, whether incorporated or not)
Borrower 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 submitted).
Borrower in case of any other person including individual must:
2. Be a resident of India
3. Submit constitutional documents like partnership deed, MOA, AOA, etc.
4. Have identity proof (any of these): PAN / Aadhaar card / 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. Submit contact proof: Mobile verification through SMS-OTP.
7. Submit proof of income: Bank statement with IFSC for last 6 months and last 3 months salary slip (for salaried person) / last 2 years ITR (for business professionals).
8. Submit declaration of liabilities: furnish nature of present loans with EMI & outstanding
9. Have PAN.
10. Submit a declaration that he has not taken loan more than Rs. 10 Lakhs across all P2Ps.
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/-.