I2ifunding Personal Loan

Here are the key details of the i2i Funding personal loan:

Below are the key features and benefits of the i2iFunding personal loan:

• 100% collateral-free personal loans up to ₹10 Lakhs.
• Flexible tenures of 3 to 36 months.
• Completely digital application process.
• Different kinds of personal loans are available, such as instant loans, debt consolidation loans, marriage loans, travel loans, home renovation loans, medical loans, credit card payment loans, business loans, and education loans.
• Repayment is made monthly and is based on the standard EMI calculation. 
• Option to prepay the loan fully or partially, and as many times as you wish, without any prepayment penalty.

The interest rates and other charges associated with the i2iFunding Personal Loan are mentioned below:

• Interest rate: 12% to 36% p.a., based on risk categories.
• Prepayment charges: Nil.
• Registration fee for investor registration: ₹500 + GST (adjusted against the wallet recharge fee of 1%). 
• Registration fee for borrower: ₹100 + GST.
• Processing fee for salaried borrowers: 3% to 6% (minimum ₹2,000) + applicable taxes,  based on risk categories.
• Processing fee for self-employed professionals/ business persons: 4% to 8% (minimum ₹2,000) + applicable taxes,  based on risk categories.
• Fee for increasing the wallet size: ₹10 for every ₹1,000 (for the lender). 
• Penal interest for delay/ missed due date as per the repayment schedule mentioned in the Loan Agreement: 24% p.a. 
• Rate of annualised penal charges for delayed payments (if any): Up to 36% per annum of overdue amount. 
• Dishonour of Cheque charges: ₹2,000.
• ECS bounce charges: ₹500.
• Charges for changing the ECS Mandate Account: ₹1,000.  
• Charges on rejection of the ECS mandate: ₹1,000. 
• Fee for changing the loan amount before receiving any funding commitment post listing: ₹100 + applicable taxes.
• Charges for picking up the cheques from the borrower: ₹500.
• Fee for changing bank account details: ₹200 + applicable taxes.
• Legal cost for sending a legal notice: ₹1,000.
• Legal cost for hiring a lawyer to contest the case against the borrower: ₹10,000. 

Below is a comparison of the i2iFunding loan app with other loan apps:

A borrower should meet the following eligibility parameters for i2iFunding Personal Loan:

• An employed resident of India.
• Should be above 21 years and below 60 years of age.
• Should have a valid savings bank account in India and a PAN number.
• The income should be higher than ₹20,000 per month. 
• Must have acceptable income proof.
• To become an investor, not above 30% of their gross income should be derived from lending to individual borrowers.
• Currently, i2ifunding personal loans are available in Delhi, Gurgaon, Noida, Ghaziabad, Hyderabad, Mumbai, Pune, Kolkata, Chennai, Bangalore, Jaipur, Chandigarh, Lucknow, Varanasi, Ahmedabad, and Patna.
• The borrower has to sign the NACH form mandating i2i to auto deduct EMIs from their bank account.

Below is the documents checklist for salaried and self-employed applicants for i2iFunding Personal Loan:

• PAN Card 
• Aadhaar Card 
• House ownership proof: Electricity Bill/ House Tax Receipt/ Water Bill/ Sale Deed/ POA 
• Address proof: Aadhaar Card/ Passport/ Driving License/Voter's Identification Card/ Latest Utility Bill of any service provider (not older than 2 months)/ Bank Account or Post Office Saving Bank Account Statement or Passbook of not older than 3 months/ Demat Account Statement with address issued by a registered depository participant (not older than 3 months)/ Copy of the Lease or Leave & License Agreement or Rent Agreement (duly stamped/ registered as per State laws) of not less than 3 months old/ Letter of Allotment from a company provided accommodation 
• 2 references  
• Employment proof for self-employed: Last 3 Salary Slips/ Form 16, and Income Tax Return (ITR) 
• Income documents for salaried: 6 Month Bank Statement of Salary Account (If Salary Account is changed in the last 6 months, then the statement from the new account too) 
• Income documents for self-employed: Current Account and Savings Account Bank Statements 
• Business Registration, such as Company Registration, GST Return and Business Photos (for self-employed)
• Highest Qualification Degree  
• In case the borrower lives on rent, a PAN Card of a Guarantor having their own house is required 
• 3 Cheques to be handed over during the house visit 

A borrower can apply for an unsecured i2iFunding personal loan in just the following steps:

• Visit the official website of i2iFunding and click on the ‘Apply Now’ button. 
• Fill in a simple online loan application form.
• Upload KYC documents and bank account statement.
• Depending on your profile, i2iFunding will try to collect the minimum data from you. 
• After payment of the registration fee, i2i analyses your credit risk for funding.
• Once you complete the loan application, the money will automatically be credited to your bank account on approval.

You can contact the i2iFunding customer care team in the following ways:

Contact Number 

• For loan-related queries: +91-844 844 8834
• For lending-related queries: +91-844 844 8834
• For corporate/ general queries: +91-9717420307

Email ID 

• For loan-related queries: loan@i2ifunding.com
• For lending-related queries: investment@i2ifunding.com
• For corporate/ general queries: funding@i2ifunding.com