Top 2 P2P Lenders In India Offering Personal Loan

In India, mainly, there are three types of lenders offering personal loans. They are private and public banks, NBFCs and online lenders. However, in recent times, a new kind of lender has emerged in the lending market.

It is called p2p (peer-to-peer) lending. Here a borrower and lender are directly connected. If you are looking for a personal loan, this new method could be useful. To keep short, we have here 2 top p2p lenders who offer the best deals.

Faircent Personal Loan

Faircent personal loan end-to-end process is transparent and digitized. It requires minimal documentation, having flexible loan repayment tenure.

• The loan amount is offered from Rs 30,000 to Rs 10 lakh.

• The interest rate starts at 14%, going up to 28%.

• The processing fee is from 2.50% to 8.50% of the loan amount.

• The loan tenure is up to 3 years.

Features of Faircent personal loan

• The loan is quickly disbursed.

• The interest rate is quite competitive.

• The loan tenure is flexible.

• The online application is simple.

• There is complete transparency about terms and conditions.

The eligibility criteria for Faircent personal loan

• The applicant's minimum age should be at least 18 years.

• The applicant should be an Indian citizen.

• The applicant should be a salaried individual or self-employed professional.

• The applicant's income should be at least INR 2 lakhs per annum.

Required documents for Faircent personal loan

• Personal loan application form

• Identity proof – Aadhar card, PAN card, Driving license

• Address proof – Lease agreement, passport, telephone bill, water bill

• Income proof – Salary slips and bank statement for the last three months

• ITRs for self-employed

How to apply for a Faircent personal loan?

To apply for a Faircent personal loan, visit its official website. There fill out the loan application form. A representative will contact with detail for the next steps. If you face any issues, contact them at 0120-4659902. Now, let's check out the next lender.

Lendbox Personal Loan

Lendbox is another p2p lending offering a personal loan. It provides a competitive interest rate with multiple financial solutions.

• Lendbox offers a personal loan from Rs 25,000 to Rs 5 lakh.

• The rate of interest is from 16% per annum to 28% P.A

• The disbursement fee is from 2% to 5% of the loan amount.

• The loan tenure is up to 3 years.

Why should you choose Lendbox loans?

• Lendbox does not require collateral to offer a personal loan.

• The loan is accessible online.

• The loan status can be tracked online.

• The loan is quickly processed.

• It has different lenders on a single platform.

The eligibility criteria for Lendbox personal loan

• The applicant should be an Indian citizen.

• The applicant's age should be at least 18 years.

• The applicant's income should be at least Rs 25,000 per month.

• The applicant should have a minimum of 2 years of work experience.

• For a self-employed, the business should be profitable for a minimum of one year.

Required documents for Lendbox

• Passport size photographs

• PAN Card

• Aadhar card

• Bank statement

• Salary slips

• Form 16

How to apply for Lendbox personal loan?

To apply for Lendbox loans, you can download its app from the Google play store or visit's its website. Both ways are easy and quick. A representative will contact you for a different process.

Conclusion

Both lenders offer an excellent deal on it's a personal loan. It is up to choose one of them as per your need. It would be best to check the pre-eligibility criteria before applying. Read More: The Best Lenders To Get Instant Personal Loan For An Emergency?