P2P lending platform Lendbox connects Indian creditworthy borrowers with clever investors/lenders like never before. It’s a legally recognized company. Instant loans are available with interest rates ranging from 16% to 28%. You may get a loan of up to Rs. 5 lakh. The payback period for a loan might range from 3 months to 3 years.
Lendbox Instant Loan Quick Recap
|Loan amount||Up To 5 Lakh|
|Loan tenure||3 months – 36 months|
|Interest rate||16%-18% p.a.|
|Registration fee||Rs. 500 + GST|
|Age||21 – 56 years|
|Income Require||Rs. 15,000 Per month|
|Eligible For||Salaried / Self Employed|
What is Lendbox?
All of Lendbox’s activities are in accordance with the regulations set out by the Reserve Bank of India (RBI). RBI has made a significant judgment by increasing the overall P2P exposure of a lender from 10 lakhs to 50 lakhs in one of its recent historic decisions.
Benefits of Lendbox Instant Loan
1. Due to Lendbox’s focus on several aspects of an applicant’s credit history, persons with lower credit scores may be eligible for loans via the platform.
2. Loans may be applied for from the comfort of one’s own home, with no need for a trip to the bank. The amount of paperwork needed to complete the procedure is likewise rather modest.
3. The whole loan application and disbursal procedure are transparent. Borrowers don’t have to worry about any additional fees.
4. Lendbox facilitates communication between lenders and borrowers by allowing them to exchange suggestions. As a result, both sides profit from the whole process. Individuals using the platform should expect a positive lending/borrowing experience as a result of this.
5. No security will be needed for the personal loan, which is an unsecured loan.
Also Read: Faircent pocket loan
Lendbox Instant Loan Eligibility
Lendbox is a platform for individuals who take an unconventional approach to borrowing, resulting in reduced interest rates on the loan amount. Applicants on Lendbox must fulfill the following requirements to be featured on our platform:
- An Indian national must be required
- Please note that you must be at least 21 years of age to participate in this activity
- Require valid Indian ID Proof like Aadhaar Card, Voter Card, Pan Card
- An active bank account is a need.
- You must be earning at least Rs. 15,000 a month in order to participate.
|Identity Proof||PAN Card, Aadhaar Card, Voter ID, Passport|
|Date of Birth Proof||PAN Card, Passport|
|Signature Proof||PAN Card, Signature verification from your bank, Passport|
|Address Proof||Passport, Bank Statement, Voter ID|
|Contact Proof||Postpaid Mobile Bill (last month), Postpaid Landline Bill (last month)|
|Bank Statements||Last 6 months|
|Proof of Income||Salary Slip/Certificates|
How to Apply for Lendbox Instant Loan
1. The first step is to sign up at Lendbox.
2. Fill in some basic information about your business, like your name, address, and so on.
3. Send your income and bank statements for the last four months.
4. Credit report will check
5. After Credit eligibility, Money will disburse to your account.