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Embrace the Power of the Crowd

Can I be a Lender?

Yes, if you

Are a person of Indian origin

Have a valid bank account in India

Have a valid ID Proof
(ID Proof - PAN card / Aadhaar card / PIO or OCI card / Any equivalent)

Documents required:
Document Name Mandatory Additional: Any of the following
Identity Proof PAN card / Aadhaar card / PIO or OCI card / Any equivalent Voter ID, Passport (Copy: 2 front pages, 2 back pages)
Date of Birth Proof PAN Card / Aadhaar card / PIO or OCI card / Passport (Copy: 2 front pages, 2 back pages) / Any equivalent
Address Proof Aadhaar card / PIO or OCI card / Passport (Copy: 2 front pages, 2 back pages) / Any equivalent Voter ID, Bank statement, Post-paid Telephone bill, Electricity bill

Investment Methods

Manual Invest

Manual Invest allows you to browse through borrower listings, carefully review and select every borrower profile (loan) that you wish to fund and indicate the amount of money you want to lend. Manual Invest is well suited for hands-on investors who would like to determine their specific criteria thereby building their loan portfolio.

Quick Invest

Quick Invest allows you to set your desired risk and return levels, allowing PeerLend's automated system to present borrower profiles that meet your criteria, at the click of a button. This is a faster and more simplified option than manual investing while still allowing for a degree of customization.

Who are my Borrowers?

Borrowers must meet the following criteria:

Be a Citizen of India
A Full-time employee or a Micro Business
Have a monthly salary / proof of income and clear track record
Be earning a gross income of 1 lac and above per annum
Have a PAN card
Borrowers are usually looking for a loan for a car or a bike, home improvement, education, a medical emergency, or debt consolidation or business loans.
PeerLend facilitates borrowing through these key principles: Borrowers must be over a certain age and have a regular monthly income and a sound credit history. We undertake contact point verification and carefully examine their credit file to understand their financial position and the ability to service the loan. We don't judge simply on the basis of how much they want to borrow. It is very important to understand whether the loan is affordable for the borrower in the context of their monthly expenditure. This stringent process of verification and background check means that we actually do scrutinize, and if necessary, decline borrower applications. Those who are successfully onboarded to the platform (and whose listings the lenders are able to see) are creditworthy borrowers that our lenders expect to transact with .
Click here to read through the borrowers page.
Still have more questions or need more clarification? Click here to go through FAQs.

How are my Borrowers Assessed?

Borrowers are assessed by following criteria:

Source of income
Monthly expenses
Monthly free cash flow
Credit score of participants
Outside borrowings
Work experience
Purpose of loan

Loan Rates & Fees

The uniqueness of Peer-to-Peer lending is that the interest rates are set by you - the lender and the borrower. The purpose of PeerLend is to close the gap between what you as the lender can earn on your money and what borrowers can pay for their loans. However, we do have an interest "rate range" that both lenders and borrowers can negotiate within. The range is between 14% and 36%. This range is set based on the loan term, economic environment and competitive environment.
As a lender, you will pay a one-time registration fee of Rs.1,500 plus Taxes/- to register on the PeerLend platform. You are only charged a 2% fee on the amount of money you lend.

Fund Transfer Mechanism

The fund transfer and repayments are processed through Escrow accounts set up at IDBI bank. After the loan formalities are completed a system notification is sent to lender to transfer the loan amount including fees into our Lenders Funding Escrow Account. After receiving the funds, PeerLend sends a request to transfer the loan amount to Borrower account. Similarly EMI payments received from borrowers are transferred to lenders account.
Sign up
Lend Plan
Indicate an amount you want to lend. Choose an interest rate you want to receive. There's a chance you'll get a higher rate than what you choose. However, if you choose an interest rate that is too high, you may not get matched.
Match Making
Browse through the borrower listings and identify those whose rate and terms meet yours. You get to connect and chat with the borrower and finalize the terms before lending the amount.