Why do I need to transfer funds in Escrow account?
As per RBI regulations, all money movement has to be carried out through an escrow account. Transferring money to an escrow account is easy and safe, it also enables a faster and secure transaction.
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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.
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 borrowers?
You will be lending to individuals (salaried and self-employed). All individuals seeking loan will be termed as borrowers on the platform. All borrowers are listed only after a stringent credit underwriting process. Following parameters are taken ...