How to Borrow P2P Loans

The Borrowers on IndiaMoneyMart have to follow the below process: 

  1. Download "IndiaMoneyMart" from Google Playstore or iOS AppStore. Select "Apply for Loan". Alternately, you can register as a Borrower on the website.
  2. Enter you basic details and make registration fee payment.
    (Note that Registration Fee is Non-Refundable Amount of INR 1000 plus applicable GST charge of 18%.)
  3. Upload all the KYC and relevant documents for verification 
  4. Underwriting Algorithm will assess your loan application to be eligible for listing or rejection
  5. Once listed live, multiple lenders will send you proposals to fulfill the loan requirement. As a borrower you can accept or reject the loan proposals.
  6. Upon successful funding, a loan agreement would be electronically shared with you. 
  7. Loan shall be disbursed upon successful receipt of NACH form, Cheques and Loan Agreement.
    Please note that Loan Transaction fee and other charges would be deducted before the final amount is disbursed to you.

Here's how it works:

Borrowers interested in a loan completes a simple application on the IndiaMoneyMart platform.

IMM would carry out the verification and activate the account. IMM would also get the credit rating from registered agencies on behalf of the Borrowers. Upon activation of the account, Borrowers would start receiving offers in just minutes, and can evaluate loan options immediately.

The entire process is done online, using technology to lower the Lender’s cost of infrastructure and overheads and pass the savings back in the form of lower interest rates to the Borrowers and also generate substantial returns for the Lenders.

Lenders search borrower loan listing and send requests to specific individual borrowers based on the information provided on our website. The Borrower’s listing is closed once the Borrower has received funding and has accepted the loan amount. A borrower listing is live for a period of 30 days and if the borrower is not successfully funded, then the listing expires.

The loan transaction is deemed locked when the Borrowers receive the money in their accounts.

Click here to Register now.

Following are the simple Eligibility criteria to join as a Borrower on IMM:

  • Be an Indian Citizen
  • Be at least 21 years of age
  • Have a valid Bank account in India
  • Have a PAN and AADHAAR card
  • Have residential proof (passport/ration card/telephone or electricity bill or any government approved identity document)

What Documents are needed to Register?

Borrowers are required to submit the following documents for quick checks and verification of their credentials:

  1. Photographs (Two)
  2. Identity Proof (Any one)
    • PAN card
    • AADHAAR card
    • Passport
    • Voter’s ID
  3. Date of Birth Proof (Any one)
    • Passport Copy
    • PAN card
  4. Address Proof (Any one)
    • Driving License
    • Passport
    • Postpaid Telephone bill
    • Electricity bill
    • Bank statement
    • Voter’s ID
  5. Contact Proof (Any one)
    • Postpaid Telephone bill
    • Electricity bill
  6. Proof of Income
    • Income declaration statement of Income Tax for the last 2 years
    • Bank statement for the last 6 months