How to Borrow P2P Loans

Borrowing process can be broken into following simple steps:

  1. Fill a simple Registration Form and get registered as an Individual or as a Corporate member
  2. After verification the account is activated but not visible to the Lenders
  3. Pay the application processing fees when a loan is needed
  4. Search for the Lender(s) suiting your requirements
  5. Close a deal with the Lender
  6. Sign contract and get funded

Here's how it works:

Borrowers interested in a loan completes a simple application as an Individual or as a Corporate member 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.

Both Lenders and Borrowers can search listings and send requests to specific individuals based on their information provided on our website. The Borrower’s listing is closed once the Borrower has received funding and has accepted the loan amount. 

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