Can I pre-pay my loan? Is there any additional fee/charge?

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• What are the fees and charges applicable for personal loan?

  The only fee applicable is a processing fee in the range of 2.5% to 4.5% on the approved loan amount on 5paisa P2P platform

• What happens in case I fail to pay my EMI on time?

  We suggest all our borrowers to ensure paying all EMI’s on time to avoid any late fee. However, if you fail to pay EMI on time, there will be a late fee of 24% per annum on the EMI amount.

• What are the returns and fee/charges for P2P lending?

  You can lend to borrowers starting from 12% upto 36% as per your risk appetite and borrowers’ creditworthiness. Your returns will be equal to the interest rate of the borrower. The only fee applicable is the processing fee charged at 1.5% of the ...

• Will a lender have to pay tax on returns?

  Yes, we do not deduct any TDS on the returns accumulated by you. Hence you will have to pay taxes while filling for your returns.

• How is my loan eligibility decided?

  At 5paisa P2P, we use a very robust credit evaluation model which takes into account different parameters such as credit score, open loans, repayment history, income in hand, among others, to decide your creditworthiness and loan eligibility.