Can I pre-pay my loan? Is there any additional fee/charge?
Yes, you can make pre-payment or pre-close your loan anytime. At 5paisa, we do not charge any fee for pre-payment or pre-closure.
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.
How to take loan from 5paisa P2P?
You can take a personal loan in just four simple steps. They are as follows: Register online and create an account Upload required documents Accept loan agreement Loan gets disbursed in your bank account
Who are the lenders for my loan?
You will be funded by multiple lenders; each lender will fund a part of your loan at the interest rate as per your loan eligibility. For example, if your loan amount is Rs50,000, 10 lenders will lend Rs5,000 each to complete your loan requirement. ...
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 ...