IndiaLends Loan Review

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What Is IndiaLends?

IndiaLends is a Financial technology startup based in New Delhi.

It doesn’t lend or provides loans directly but this wonderful online platform provides customers with financial products and services such as personal loans, unsecured loans, installment loans, and credit cards. 

It basically connects borrowers with lenders to help them get the best deal possible.

What makes this platform outstanding is it provide value-added services to customers such as big-data analytics, credit risk assessment and verification, and automated workflows for loan origination and management.

Like, you can trace and see all your loans history with pending or on-time payments, etc.

Type Of Loans You Can Avail At IndiaLends

Personal loans from banks and NBFCs.

To avail loans from this platform, your credit score must be 750 or above.

  1. Fresh Funding
  2. Personal Loan for Home Improvement.
  3. Personal Loan for Wedding.
  4. Personal Loan for Travel
  5. Top Up Personal Loan.
  6. Personal Loan Balance Transfer.
  7. Gold Loan.

Find the best offers for a personal loan at IndiaLends here.

Who Can Apply For Loan At IndiaLends?

  1. Salaried (Employed at the current company for at least 6/12 months).
  2. Self-Employed professionals (Business tenure of at least 3 years and ITR of last 3 years)
  3. With salary of ₹15,000 (non-metro cities) ₹20,000 ( metro cities).

Find the best offers for a personal loan at IndiaLends here.

Documents Needed For Applying Loan At IndiaLends

For Salaried Individuals

  1. Identity & Age Proof
  2. Completely filled personal loan application with photograph
  3. PAN Card
  4. Residence proof – Passport driving license, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
  5. Bank statements for the last 3 months(preferably your salary account)
  6. Salary Slips of last 3 months
  7. Form 16 or Income Tax Returns of last 3 years.

For Self-Employed Individuals

  1. Identity & Age Proof
  2. Completely filled personal loan application with photograph
  3. PAN Card
  4. Residence proof – Passport driving license, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
  5. Bank statements for the last 3 months(preferably your salary account)
  6. Salary Slips of last 3 months
  7. Last 3 years Income Tax Returns with computation of Income
  8. Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Find the best offers for personal loans at IndiaLends here.

How Much Can You Borrow From IndiaLends?

You can borrow from ₹15,000 to ₹50 lakhs, depending on your eligibility.

Rate Of Interest Of IndiaLends

You will get the loan on 10.75% – 35% per annum depending on various lending partners.

Processing Fee: Differs from bank to bank; generally ranges between 1-3% of the loan amount.

Preclosure Charges: Generally between 2%-5% of the loan outstanding.

How Long Does It Take To Get Your Loan From IndiaLends?

It depends on the lending partners. Generally, it will take 3 to 7 days to get your loan.

Repayment Period Of IndiaLends Loan

The repayment period for loans taken from IndiaLends is 12 months to 60 months. You can choose the months according to your convenience.

FAQs On Indialends Loan

Q1. Is Indialends RBI Registered?

No, Indialends is not an RBI registered, it basically connects the borrowers to banks and NBFCs.

Q2. Is Indialends Safe?

Indialends loan app is safe and legit. It will give you different offers of loans from Banks and NBFCs for which you are pre-qualified to take a loan.

Q3. Who Is Eligible For Indialends Loan?

Any salaried individuals who are above 21 years of age and residing in India can apply at Indialends.

Q4. How Can I Get A Loan From Indialends?

  1. Register at Indialends here and set up your user profile.
  2. Complete your details like uploading your PAN, Aadhar, Bank Statement, etc. as directed and required to get your loan.
  3. You will see different banks and NBFCs which offer loans according to your pre-qualification.
  4. You can apply for a loan on any of the chosen platforms.

Q5. How Long Does It Take Indialends To Approve A Loan?

After you fill out the application form with your information, you will be able to get a loan within 3 to 7 days depending on the lending partners.

Q6. What Is The Interest Rate At Indialends?

The rate of interest can be anywhere from 10.75% to 33% per annum depending on various lending partners.

DISCLAIMER: This post may contain affiliate links, meaning I will get a small commission if you make a purchase through my links, at no cost to you. For more info, please read my Affiliate Disclaimer.

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