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Best P2P Loans in Chennai

Peer to peer lending in Chennai allows you to access sources of credit apart from banks or financial institutions. If you have money to invest, you can advance it to suitable individual profiles for an interest rate for a fixed period of time. You can choose the people you want to lend money to depending on eligibility criteria and credit scores displayed to you on the platform.

You had an urgent need for money during your sister’s wedding and you asked your relatives for a small loan. This was given without interest which you repaid in 6 months. Now that you have 1lakh additional money with you, will you be willing to lend it to another brother who has his sister’s wedding coming up? Even though you don’t know him, he is trustworthy and infact will pay you 16% interest on the loan.

You gain- better RoI than a savings account or FD, in a trustworthy way
He gains- loan he wants at a great interest rate, from a good lender

This is the power of Peer to Peer lending in Chennai or P2P loans in Chennai

The system takes on from the historic process of lending and borrowing between individuals giving it a modern safety net through the use of technology. Unlike the old days, now a loan transaction can happen even between strangers as every detail of a borrower is captured through the use of technology. This provides the much needed trust and insurance needed for a financial transaction to happen. P2P lending in Chennai is the future of the financial system.

Chennai is one of the biggest metropolitan areas in the country with a large population of native as well as expat population. The growing opportunities in the city give rise to a set of needs which require financing. From travel to marriage, medical to renovation, the many requirements of the population mean a growing need for personal loans. P2P lending in Chennai provides a great alternative to connect those in search of finance to those who have additional funds to invest.

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

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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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