Get Instant Personal Loan Online with Lendbox

What is Lendbox?

Lendbox is an online peer-to-peer lending platform that helps individual borrowers connect with vast base of institutional and individual lenders for funding their loan instantly on a negotiated interest rate.

Lendbox also provide instant loans through major banks and NBFCs, so we have you covered, if you slightly misses the eligibility criteria for banks and NBFCs, you can still get a personal loan through our individual lenders. Our credit assessment is much more flexible and relies on almost 300 data points not just your CIBIL score.

Benefits of taking an Instant Personal Loan from Lendbox

Instant Personal Loan Approval

With an approval rate of 45% and interest rates starting from just 12% per annum, Lendbox has served over 50,000 borrowers within a period of one year. Apart from that, below are some of the major features that make Lendbox best place to take loan in India. High Approval Rate

As we mentioned earlier, the approval rate for personal loan applications in Lendbox is over 45%. We have been able to serve a larger sector of people than that of banks because of our big data analytics engine and our better ability to understand customer profiles, their need, intent and ability to repay. Low Interest Rates

Interest rate of a personal loan on Lendbox starts from 12% per annum. Not much different than banks? Well, here's the catch, there are no hidden charges. Pay small processing fees and that too only at disbursement time plus there no charges for pre-closure so you can close your loan before the loan tenure without any extra charges. Note: Personal loans from banks and NBFCs will have high pre closure charges as per their standards; you can find that info further below in the page) Pan India Coverage

Lendbox operates in over 35 cities in India, which covers almost all big Tier I and Tier II cities. We can provide you a personal loan whether you're in Delhi, Bangalore, Hyderabad, Chennai, and Mumbai or anywhere else. Interested to take a loan from Lendbox for a short period? If yes, then simply use the sign up button below and fill the application form with accurate details and upload the required documents. You'll soon get a reply from our team.

Lendbox is a platform for people with non-traditional approach to borrowing, which ultimately results in lower interest rates on the financing amount. All borrowers on Lendbox must meet the following criteria to be eligible to be listed on our platform:

• You must be an Indian Resident

• You must be older than 21 years old

• You must have a valid Indian ID proof

• You must have a valid Indian bank account

• You must have a minimum monthly net income of 15,000

When a prospective borrower does not meet the standards listed above, the borrower can't be a part of Lendbox, unless specified by Lendbox in a written legal agreement.

Required Documents (Documents with * are mandatory)

Photographs	Yes
Identity Proof (any one of the following)*	PAN Card, Aadhaar Card, Voter ID, Passport
Date of Birth Proof (any one of the following)	PAN Card, Passport
Signature Proof (any one of the following)	PAN Card, Signature verification from your bank, Passport
Address Proof (any one of the following)	Passport, Bank Statement, Voter ID
Contact Proof (any one of the following)	Post paid Mobile Bill (last month), Post paid Landline Bill (last month)
Bank Statements*	Last 4 months
Proof of Income	Salary Slips/Certificates

How To Apply For A Instant Personal Loan Online

It's very easy to apply for a personal loan at Lendbox. it's a completely online, paperless and hassle free process. To apply, follow the steps given below.

Before applying, make sure you are eligible for an instant loan and have enough documents to get approved. You can check eligibility criteria and required documents in the personal loan eligibility tab. Keep the documents with yourself during the time of application for a quick approval. Make sure your Internet is stable.

Steps to apply for an Instant Personal Loan

• Use the form above to register yourself.

• Fill out all the details as per your KYC Documents.

• Upload the copies of all the required documents.

• Complete all the steps and you're done.

• After completing the process, we'll contact you with the further details.

If you're creditworthy enough to get a loan, you'll get an activation mail or a call from our representatives in a matter of minutes. Sometimes it can take up to 24 hours in activation and approval. Once activated, you can start operating on the platform.

The interest rate for personal loans in Lendbox starts from the min 11.49% p.a. and can go upto 36%, depending on the credit rating of the borrower. The credit ratings are given after the assessment of the borrower.

Lendbox looks beyond CIBIL score and salary to assess the creditworthiness of the borrowers. Our credit assessment relies on over 250 parameters and big data analytics, making sure that lenders feel safe to invest and provide personal loan to applicants.

If you have a good solid credit history and high salary then you can avail a personal loan at the lowest interest rates within minutes. Also, having small loan tenure helps you in keeping the interest amount low. Below is an example of how the interest rate affects the cost of a personal loan and its EMI's.

Example: A Personal loan for Rs. 2,00,000 at an interest rate of 12% with a repayment period of 12 months will have a monthly EMI's of Rs. 17,769 and the total payable interest amount will be Rs. 13,237. The amount you'll repay in 12 months will be Rs. 2,13,237.

Disbursals and repayments for a loan through Lendbox can be done through various channels. All payment modes recognized by the RBI such as Cheques, NEFT, IMPS, Bank transfers, Cash Cards, Mobile wallets etc. can be availed.

Disbursement

The monthly installments you pay are not inclusive of fees paid to Lendbox. Monthly installments of Borrowers are defined as per the rate of interest settled between the investors and the borrowers. The EMI is directly given to the investors and Lendbox just acts as a facilitator for the installments if the investor requests us to do so.

Lendbox's Fees

We charge a onetime non-refundable listing fee of ₹500 +GST from the borrower at the time of listing.

Lendbox can act as a facilitator of EMIs. The EMI you pay does not include any payments made to us. Your EMI is decided between you and the investors, and your repayment are made directly to them.

The below mentioned processing fee structure would be applicable upon disbursement of loan request:

16% or less	2% of Loan Amount or 2000 whichever is higher
16.25% to 21%	3% of Loan Amount or 3000 whichever is higher
21.25% to 25%	4% of Loan Amount or 4000 whichever is higher
25.25% to 28%	5% of Loan Amount or 5000 whichever is higher
Above 28%	6% of Loan Amount or 6000 whichever is higher

Pre-payment of Loan

You can choose to make a prepayment of the entire loan amount without any penalty/prepayment charges, pre-closure charges etc, however this has to be agreed in advance between the borrower and their respective investors.

Non-Payment

In case you do not pay the EMI by the due date, ₹250 bounce charge and additional penal interest of 2% p.m. will be applied to the due amount for the duration of delay which you will be liable to pay to your Investor(s). In addition to that, Lendbox will charge a processing charge of ₹500 +GST.

It is advised to not change the bank account details from which you intend to make the repayment. However, we do not prevent you from doing so but only charge a nominal ₹500 +GST for any such account swap during an ongoing loan repayment process.

Refund Policy

The eligibility of being a borrower is determined by your intention and ability to repay the loan amount. Lendbox reserves the right of selecting the borrowers suitable for listing on its website. All borrower applications are subject to stringent verification by the Lendbox's risk management team and in case an application is not found suitable then Lendbox reserves the right to partially refund the listing fees paid by you and terminate your loan application.

In case a loan application is rejected prior to listing on the Lendbox portal then Lendbox will refund ₹1000 to the applicant and provide the following services:

• An opportunity to register on the website and explore the platform.
• A detailed individual credit analysis report with exact reasons for declining loan application.

Interest Rate (Min and Max)	Loan Amount	Loan Tenure	Registeration Fees	Processing Fees
12% - 36%	₹1000 - ₹1,00,000	1-12 Months	₹500 +GST	2-6% + Applicable Service Tax

For example, If a person is borrowing ₹50,000 at 18.0% APR and repaying over 6 months with 2% one time processing fees, the monthly repayments of ₹8,776/- will need to be paid with one time processing fee of ₹1,000/-, and the total amount that would need to be repaid will be ₹53,657/-