Borrow Money Online India

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Borrow Money Online India

• LenDenClub

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Borrow Money from P2P Platform
Peer-to- peer lending is an upcoming asset class
for investors looking to get a high-interest rate
on their funds by lending money and is a blessing
for borrowers looking to avail short-term loans
with ease. The process to borrow money online is
easy and hassle free one. An individual can apply
for instant personal loan with hassle free
registration and disbursement process.
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How to Borrow Money from P2P Platform?
1. Registration
An individual looking to borrow money online for
a short time period can do so by registering on a
peer-to- peer lending company platform as a
borrower. They have to enter their personal,
professional and financial credentials to help
the agency access their profile. Nominal fees
might be charged a part of which can be returned
incase of the loan not being sanctioned due to
extreme reasons.
2. Loan Requirements
A borrower needs to enter their loan requirements
i.e loan amount and tenure and the rate of
interest will be determined based on the credit
profile of the borrower. Therefore the higher the
credit score of the borrower, the lower will be
the interest rate on their borrowing.
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How to Borrow Money from P2P Platform?
3. Tracking the funding status
Once a borrower has been listed on the peer-to-
peer lending companys platform, they can check
the status of their loan sanction and will also
be notified via email.
4. Documentation
An advantage of P2P loans is that funds are
sanctioned and then the complete documentation is
done. The documents are then franked and the
agreement and the Post dated cheques are
submitted. This is unlike the banks wherein all
the documents are collected well in advance and
in spite of that the loan may not be sanctioned.
With P2P lending, a large part of the tedious
process is made simple.
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How to Borrow Money from P2P Platform?
5. Disbursement
After the agreement is signed, the promised
amount is disbursed to the borrower from the
lenders account and a softcopy of the agreement
is sent out to both.
This summarizes the process that takes place
whilst borrowing money from a Peer-to- peer
lending company in India. It is a simple,
hassle-free and quick process. It connects
borrowers looking for short term loans to
registered personal moneylenders seamlessly.
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Thank You!
If you are planning to borrow money online like
need a instant personal loan then get in touch
with best peer to peer lending companies.
For more details visit our website
https//www.lendenclub.com/borrowing