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Lender FAQ
NDX P2P Pvt. Ltd (LiquiLoans) is an RBI registered NBFC – P2P. The Company received its seed funding in April 2018 from Matrix Partners (one of the largest VCs in India), which has invested in marquee companies such as OlaCabs, Treebo Hotels, ItzCash, Quikr, Cloud Nine etc. Matrix Partners & Renowned Angel Investors (Mr. Kunal Shah – CEO of CRED, Mr. Satya Bansal – Ex. CEO Barclays Wealth India, Mr. Abhishek Dalmia – CEO of Renaissance Group, Mr. Ashutosh Taparia – Ex. Owner of Famy Care) etc. have cumulatively invested Rs. 12+ crores in LiquiLoans, given the Company’s defined focus on P2P Segment and its proven execution capabilities.
As per RBI’s directives, an entity with valid KYC documents (PAN Card, Address Proof, Indian Bank Account, Email Id & Mobile No.) can lend via a Peer-to-Peer Platform. Eligible Entities include:
Each lender can onboard the platform by following a simple 3 step process:
LiquiLoans needs to verify the data and KYC documents provided by Lenders in accordance with the Master Directions laid down by RBI. LiquiLoans, however, reserves the right to reject any application for registration or terminate the registration of the Lender or refund any funds received from the Lender without reason.
As per the updated RBI guidelines of Dec 2019, the following limits are applicable to any person(s) lending on P2P platforms:
Liquiloans platform classifies borrowers into A, B and C category depending on their past credit history and other parameters used for due diligence and underwriting of borrowers. However, currently Liquiloans platform only lists borrowers classified as “A” category i.e., prime quality borrowers.
Borrowers are vetted through a proprietary algorithm which checks various parameters, some of which include the following:
Lenders can expect a net pre-tax yield ranging upto 7.50% to 10% XIRR Max. on the net invested amount. LiquiLoans, however, does NOT guarantee any returns. In the past, our Lenders have earned an average return up to 10.5% - 12% XIRR depending on the scheme opted by them. Each lender should evaluate their risk appetite and understand all the risks associated with the lending transactions and that P2P platform does not assure return of principal / payment of interest. The platform shall NOT be held liable for any loss of capital or returns. Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by the NBFC-P2P, and does not provide any assurance for repayment of the loans lent on it.
Each lender can opt to list their existing loan(s) for sale, as well as buy secondary loans from the secondary marketplace made available on the platform. Lenders shall have to define the sale / purchase specifications, and if a buyer / seller is available with matching requirements, the transaction will get executed and funds will be settled within 48 working hours. Secondary marketplace is purely a platform provided for transactional assistance (sell / purchase of loan/s) and should NOT be construed as a guarantee by LiquiLoans that such sale / purchases will be executed. In the past, lenders have been able to sell their loan portfolio in the secondary marketplace within 2 days on our platform. The borrower's rights and obligations under a sale / purchase shall not be adversely affected in any way by such sale / purchases. Liquiloans platform offers a secondary market feature to the Lender where they can sell / purchase in whole or in part, the rights, title and interest in any loan transaction to / from any other lender registered on the Website. The flow of funds of any such sale / purchases shall only be through disbursement escrow accounts. All these transactions can be done only with the prior consent of LiquiLoans.
LiquiLoans does not charge any upfront / transaction fee to the investor/lender. The platform brings complete alignment with the lender’s interests wherein the entire loan servicing fee of LiquiLoans is earned only after the lender makes their indicated yield i.e. If the lenders’ portfolio’s net pre-tax yield is above the indicative pre-tax yield (XIRR) of the scheme selected, then LiquiLoans’ fees will be the difference of Lender’s Actual Portfolio Pre-Tax Yield XIRR and the Indicative Pre-Tax Yield (XIRR) of the Lender; else will be NIL. The Indicative yield and loan servicing fees charged by the platform shall differ depending on the scheme options selected by the Lender on the platform. However, if the Lender wants to pay the fees upfront, they can indicate the same to LiquiLoans in writing.
Borrower FAQ
Applying for a loan through LiquiLoans is simple and fast. You can complete the entire process online
The documents are required to identity-check, credit-check and risk-assess a borrower before registration. Apart from the Credit Bureau score, we use various other parameters like ability, stability, past performance and intention of the borrowers, which are evaluated basis these documents. The documents provided like salary slips, bank statements etc. help in taking a collective and transparent decision
Once your loan is approved, the amount will reach your registered bank account within 2-3 business days
A borrower can apply for loans upto 10 lakhs INR.
Loan tenures are fixed from anything between 3 months to 36 months.
Yes, the borrower has the freedom to choose his/her own date, on which the EMI will charged for every month.
Interest rates are suggested to every borrower based on a credit appraisal system, that uses the personal and financial details provided by the borrower. Based on which the borrower is assigned an interest rate between 12% to 25% per annum.
No. Liquiloans only provides unsecured loans, without any collateral of any form.
No. Liquiloans only provides unsecured loans, without any collateral of any form.