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. Interest rate remains the same across all lenders.
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.
Why is my Loan Application rejected?
There can be multiple reasons for rejection. It may be one of the following: You may not be eligible as per our platform criteria. You may have failed to furnish all valid supporting documents. You are not satisfied with the loan offer (Not clear)
What is the interest rate for personal loan?
The interest rate is decided as per your loan eligibility and credit evaluation. The interest rate starts from 12% and can go all the way up to 36%
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