Lendingplate Personal Loan

The key details of the personal loan offered by the Lendingplate loan app are as follows:

The features and benefits of the instant loan offered through the Lendingplate personal loan app are mentioned below:

• Flexible loan amount: Lendingplate offers a minimum of Rs. 10,000 and a maximum of Rs. 2,50,000 as a personal loan amount to cater to different financial requirements.
• Repayment tenure: The borrowed amount can be easily repaid within 3 to 15 months of tenure.
• Processing fee: 1% to 5% + GST will be levied on the sanctioned loan amount.
• Foreclosure charges: The loan can be foreclosed at zero charges on or after 1st EMI due date. 5% + GST will be charged if the loan is prepaid before 1st EMI due date.
• Freelook period: Lendingplate offers a freelook period of 3 days to all its customers. If you are not happy with the services, you may return the loan money within the first 3 days of availing of the loan without paying any fees on it. However, you will have to pay the interest for the number of days you used the loan amount.
• Collateral-free loan: You do not need to pledge any assets to get funds through the Lendingplate app. The lender evaluates your loan application based on your income, credit score, and repayment capacity.
• Instant application: Lendingplate’s digital platform lets you complete your loan application within 10 minutes. Just enter basic details, upload the required documents and get an instant decision on your loan request.
• No hidden charges: All details of Lendingplate’s loans, including interest rates, EMIs, and processing fees, are disclosed upfront.

Lendingplate personal loan interest rate varies between 12% to 36% per annum. The interest rate is different for different customers. Lendingplate’s loan pricing is based on multiple risk factors like the nature and consistency of the borrower’s income, the quality and stability of their employment, their expense and saving patterns, their past and present credit profile, and so on.

Following are the fees and charges associated with Lendingplate personal loan:

• Processing fee: 1% to 5% + GST
• Conversion fee: 1% to 5% + GST
• Mandate return fee: Rs. 500
• Overdue interest: 0.5% per day + GST
• Foreclosure charges: 5% + GST; Nil when prepaid on or after 1st EMI due date
• Extension fee: 5% + GST Payable only on the outstanding loan amount at any point of time during the tenure of the loan

You must meet the following eligibility criteria to be eligible for a Lendingplate personal loan:

• Nationality: The applicant must be an Indian citizen.
• Age: The applicant must be 21 years of age and above when applying for the loan.
• Income: The applicant must be earning a salary of a minimum of Rs. 20,000 every month.
• Salary credit mode: Regular salary must be credited to the borrower’s bank account.
• Credit score: Minimum 650 or above.

Below is the list of the required documents for the Lendingplate persona loan:

• Proof of identity: Aadhaar and PAN
• Proof of address: Aadhaar, Utility Bills, Rent Agreement, Bank Statement/ Credit Card Statement/ Home Loan Statement
• Proof of income: Bank Statement, Payslip, and Work Email

Below are the Lendingplate personal loan customer care details:

• Connect with lendingplate: +91-7373737316
• Email at: care@lendingplate.com 
• Visit or write to: Chawla House 3rd floor, 19 Nehru Place, New Delhi - 110019