Lendbox
Personal Loan

A personal loan availed with an online loan process from any financial institution to provide for requirements like payment of credit card dues, payment of utility bills, planning a wedding, for a family holiday, for medical emergencies, for repair and renovation of your house or office premises, for investment in a business, for the purchase of high-end gadgets, etc. Lendbox provides a platform wherein the borrower and the investors can interact with one another and negotiate on the terms like interest rate and repayment, etc and settle for a deal that is agreeable and beneficial. The initial credit assessment is done by Lendbox through more than 300 data points without relyingsoley on the credit score by credit bureaus. You can avail an instant personal loan, credit card repayment loan, short-term loan, marriage loan, debt consolidation loan and small personal loan through Lendbox.

There are various benefits of taking a loan from Lendbox that makes it a unique platform for availing instant personal loans.

Flexible quantum: The quantum of the loan can vary from 1000/- to 10.00 lakhs depending on the type of loan availed.

Negotiable interest rate: The rate of interest is charged depending on the credit portfolio of the borrower. You will have the benefit of negotiating the interest from 11.49% to 36% p.a. If you have a high credit score and a good credit profile you can avail the loan at the lowest rate of interest.

Better approval rates:The approval rates are better when compared to traditional banking institutions. The reason being at Lendbox they are able to understand the intention, the credit profile, the necessity and the repayment capacity of the borrower. There is an in-house proprietary tool that analyses the credit profile through more than 300 data points and does not rely only on the credit score assigned by the credit bureaus.

Paperless documentation: The whole process of availing the loan is paperless. The loan is applied through an application form and soft copies of the required documents are uploaded for processing the loan. An online contract is signed between the investor and the borrower before disbursing the loan amount.

Quick turnaround time: If all the required information is provided accurately and the documents listed are uploaded the approval of the loan will be given within a few hours and in the case of short-term loans, the approval will be given within a day.

Unsecured loan: The personal loan offered is an unsecured loan and so no collateral will be required.

Wide coverage: Lendbox has its presence in over 35 cities in the country and can provide you with a loan at any corner of the country.

Lendbox offers different types of personal loans and the features of each type of loan are as listed below:

To apply for an instant personal loan through Lendbox you will have to access the website of

Lendbox and Register as a borrower following the procedure given below:

• Provide the loan amount and the loan tenure.
• Mention the purpose for which the loan is required.
• Select the employment type. Whether salaried or self-employed
• Choose the monthly income with the slider
• Provide details of existing monthly EMIs
• Mention the mode of salary credit in case of salaried individuals and the annual turnover in the case of the self-employed.
• Enter your first name and the last name.
• Choose the gender from the dropdown menu. Also, mention your marital status.
• Enter your Email ID and mobile number.
• Create a password
• Re-enter and confirm the password
• Tap on the ?next? button to continue
• You then click on the boxes to agree with the terms and conditions, to authorize Lendbox to make enquiries regarding the credit history and to share the details with the investors to provide a fast decision.
• With the above/ the process of registration will be complete

You should then provide the following details

• Pan Number
• Date of birth
• Father name as mentioned in the Pan Card
• Residential address and also mention the type of accommodation. Whether hostel/PG accommodation, Rented with family, Rented with friends, rented individually, provided by Company, Self-owned or family-owned.
• Mention the Pin Code and City of Location
• Tap on the submit button to complete the process.

Upload the documents required to complete the application process.

The documents required for Lendbox are:

Residence Proof: Aadhar Card, Voter?s ID Card, Statement of bank account

Photo ID Proof: Pan Card, Aadhar Card, Voter?s ID Card, Passport

Income Proof: Statement of bank account for the last 6 months, Income declaration, Business or Personal Income Tax Returns of the previous year.

Proof of DOB: Passport or Pan Card

Signature Proof: Passport or Pan Card or signature verified by your banker.

Proof of contact: Postpaid mobile bill (previous month) or landline bill (previous month)

Apart from the above documents. you will have to upload a recent photograph.

The following are the eligibility criteria for loans through Lendbox

• The applicant should be a resident Indian
• The age of the applicant should be above 21 years.
• A valid ID proof of the applicant should be available.
• The applicant should have an Indian bank account.
• The applicant should register as a borrower on the official website of Lendbox by providing the details required.

Only on complying with the above requirements the applicant can be registered as a member of Lendbox.

Lendbox is a contact place for the borrowers and investors. Individual and institutional investors can invest in multiple loans and get good returns in the form of monthly payment. The borrowers and investors register as members of Lendbox. The borrowers place an online request through the website of Lendbox giving full information regarding their personal details, investment details, credit score, income details, etc. Lendbox does an extensive assessment with over 300 data points using their in-house assessment tool. Once the application is approved the applicant will be included under the borrower list on the website. The investor can choose the borrower to whom they intend to lend citing their terms with regard to interest and repayment period. The borrower can also negotiate on the terms and on mutual acceptance the borrower and the investor will sign an online contract. Post the execution of the contract the amount will be disbursed to the borrower?s bank account through Lendbox.

The quantum of loan available through Lendbox is 1000/- to 10.00 lakhs depending on the nature and purpose of the loan.  The loan can be utilized for meeting the wedding expenses, for consolidation of debts, for payment of credit card dues, for payment of utility bills, insurance premiums, etc. The loan can also be utilized for repairs and renovation of office or residential property, for the purchase of consumer durables, high-value gadgets, etc.

The repayments can be made through regular modes like NEFT, Post Dated Cheques or auto-debit by executing an online mandate i.e, NACH or a manual mandate i.e., ECS. You will have to provide the EMI amount, the due date and the loan details while executing the mandate. Make sure to maintain sufficient balance on the due date to avoid dishonor of auto-debit. Dishonour of auto-debits will attract penalty and will also bring down your credit score.