What happens if any borrower fails to repay the EMI?

• Related Articles

• 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.

• Can I choose my own EMI date?

  Yes, you can choose the EMI date as per your convenience. Please make sure that you have sufficient balance in your bank account 1 day prior to your EMI date to avoid any late fee.

• Can I be a borrower and investor at the same time?

  No, you can either take a loan or lend at a time

• How much money can I lend and for what tenure?

  You can start lending as low as Rs 500 per borrower with loan tenure from 6 months to 36 months. However, the following has to be adhered to as per regulations: Exposure of a single lender to the same borrower, across all P2Ps, shall not exceed Rs ...

• What is the risk probability in P2P lending and how to mitigate risk?

  Peer to Peer lending does not guarantee risk-free returns. However, we try to minimize risks by undertaking stringent verification and credit underwriting process. In case of any default, we do regular follow-up and soft recovery with the borrower. ...