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Best P2P Loans in Bangalore

Peer to peer lending in Bangalore can be an effective way for you to borrow or lend in an effective and smart way. P2P loans are given by individuals with funds to invest to individuals in need of funds to borrow forming a chain of peer based finance. As an individual you can make use of this alternate finance system to gain more on your investments in a secure way or borrow at a decent cost.

Peer to peer lending in Bangalore works in a simple way which has been happening in the city for a long time in an unorganized way. Currently if you are in need of funds, you either lend to or borrow from friends/relatives and return to them in a certain time. Mostly these are interest-free transactions and based on mutual trust and certainty.

Imagine if you are working in Infosys, Electronic City campus and Mr. Ram is a colleague you don’t know, working in the next building needing a 1 lakh loan. Will you not be willing to lend Rs 10000 at a 13% interest rate? Now imagine if 9 other colleagues do the same!
This is the power of Peer to Peer lending in Bangalore or P2P loans in Bangalore

Now you can do the same with the same degree of trust to strangers in your city through peer to peer loans in Bangalore. As a lender you can get better return on your investment as the interest accrued will be better than other popular options. As a borrower, you can get a loan or at a better interest rate than banks depending on your eligibility.

Bangalore as a metro city has seen a lot of development over the years and many industries have come to regard the city as their base. The expansion has also seen influx of a large and varied workforce which is employed in these various industries. People in need of finance or funds have had to depend on banks or other financial institutions.

Now peer to peer lending in Bangalore will change all this with employees in one company being able to help out their colleague by lending to their peer through the P2P methodology. Being in the same company the investment comes with a certain degree of trust and security along with details of a lot of other criteria.

Register now on our platform to become a lender or a borrower for P2P finance in Bangalore.

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Basic Documents Required for P2P Loan

  • Three passport size photographs
  • ID proof – Passport/voter ID/ Aadhar or drivers licence
  • Residence Proof – Passport/ Landline bill/ post paid mobile bill/ rental agreement or Bank Statement
  • Pan Card copy
  • Age Proof – Passport/ drivers licence/school certificate or Pan Card copy
  • Income Proof - Latest 3 months salary slips
  • Banking Statement - 6 months bank statements
  • Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16
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Basic Eligibility Criteria for P2P Loans

  • Age of the applicant should be between 21-60 Years
  • Salaried individual with minimum income of Rs 20,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Metro the salary requirement will be higher than non-metro and again if you are working in a top MNC the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 Year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc
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