How to Lend Money at IMM

The lending process can be broken into Five simple steps:

  1. Fill a Simple Registration form as an Individual or as a Corporate member
  2. Pay the application processing fees
  3. Verify for activation of the account
  4. Search for Borrowers suiting your requirements
  5. Close the deal with any selected Borrower of your choice

To begin with, interested Lenders would complete a simple Application Form as an Individual or as a Corporate member on the IndiaMoneyMart website and pay the processing fees.

Next IMM team would do necessary verification and perform due vigilance before activating the Lender’s account. Upon Activation of the account, the Lender would be ready to start viewing the Borrower’s profiles and begin lending through the IMM website.

IMM platform would provide necessary tools to the Lenders to create their own preferences and accordingly IMM will do the internal filtering and display only those Borrowers who match the rules defined by the Lender. Lenders would also be able to create a watch list by selecting some preferred Borrowers, and would get alerts once these Borrowers start getting funded by other Lenders on this platform. 

Lenders will start getting alerts about active Borrowers within minutes of account activation after which they can evaluate on the loan options by themselves and subsequently give loan proposals to the registered Borrowers through the IMM platform.

Following are the simple Eligibility criteria to join as a Lender 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 (Aadhar/ Passport/ any government approved identity document)
  • Not having interest income exceeding 30% of Gross Income

One can start lending from INR 10,000. The tenure of loans at IndiaMoneyMart is between 12 months to 36 months.