What is the eligibility requirement to take loan from 5paisa P2P?
The eligibility to become a borrower at 5paisa P2P is fairly simple and basic.
- Resident of India
- At least 21 years old
- Monthly income of at least 18,000
- Income proof
- PAN Card
- Valid Id and Address proof
- Valid Bank account
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
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.
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 amount of personal loan can I take and what will be the tenure?
You can avail loan starting from Rs 30,000 to Rs 10,00,000 depending on your eligibility. Loan tenure starts from 6 months and can go up to 36 months.
Can a lender take loan and lend at the same time?
No, you can either take a loan or lend at any given point of time.