How It Works

“PaisaDukan's broad business model can be termed as Peer to Peer Lending (P2P Lending). PaisaDukan provides a marketplace wherein a creditworthy individual can borrow money for a variety of purposes at rate of interests as low as 12% whereas an investor (online money lender) can lend to borrowers at an interest rate which can be as high as 30% through an alternative financial channel, PaisaDukan, a P2P lending platform in India. Now, our valued customers are not required to visit a bank for personal loans. P2P loans are here to serve online lending in India and vice-versa. PaisaDukan ensures hassle free operations through digitized loan funding process which is made transparent, quick and easy.”

Borrowers

Investors

Borrowers

  • 1
    Register as Borrower
  • 2
    Uploading the documents for verification
  • 3
    Evaluation of loan application
  • 4
    Approval of loan
  • 5
    Assignment of Interest Rate and Risk Category
  • 6
    Funding of loan
  • 7
    Loan agreement signature
  • 8
    Disbursal of money to bank account
  • 9
    Repayment of loan through e-NACH to escrow account

Investor

  • Register as Borrower
    1
    Register as Investor
  • Uploading the documents for verification
    2
    Browse list of active borrowers
  • Evaluation of loan application
    3
    Bid money in a desired loan project
  • Approval of loan
    4
    Funding approval
  • Assignment of Interest Rate and Risk Category
    5
    Assignment of interest rate
  • Funding of loan
    6
    Funding of loan
  • Loan agreement signature
    7
    Loan agreement signature
  • Disbursal of money to bank account
    8
    Payment of money to escrow account
  • Repayment of loan through e-NACH to escrow account
    9
    Disbursal of EMI to bank account

Get a Loan

Get yourself registered as a Borrower with PaisaDukan

To register, click on Sign In/Sign Up on the homepage and then click on Register as Borrower. Fill in the required details as asked in the form and get your mobile number and email address verified. Post this, you will be asked to fill in your personal details, employment history, financial details along with scan of self-attested copies of required documents. You will be asked to upload relevant documents as well as Loan Amount and Type of Loan required. Finally, a nominal amount of Rs 500+GST will be required to be paid from your end in order to complete the registration process and become a registered borrower of PaisaDukan.

Interest Rate and Term for Borrower

PaisaDukan aids the borrower as well as lender in deciding the interest rate and the term for loan transaction between borrower and lender. On the basis of our proprietary Credit Score Model, our team will suggest an interest rate and the term of loan after assessing borrower’s credit risk. A borrower will have to follow the decided interest rate and the term in order to further proceed for disbursal of loan.

Borrower Dashboard

Once your profile and loan application is approved with our team, you will get a notification and the same will be reflected in your dashboard. You can view all the details of your applied loan(s), your complete portfolio and all the possible details required on the loan that you have applied with PaisaDukan. You can re-apply for a new loan request from the dashboard, cancel the existing loan request and access all the required functionalities from the Borrower Dashboard.

Funding of Loan

If the loan amount requested is more than Rs. 50,000 then it will necessarily get funded from more than one investors. This will mitigate the risk and presence of PaisaDukan as a matchmaker will ensure that the interest rate decided by PaisaDukan stays uniform across all the stakeholders involved in the loan transaction.

Signing of Legal Contract

Upon successful verification, there will be a borrower agreement and a tripartite agreement which will be required to be e-signed by Borrower. It will be a legally binding document enforceable in the court of law.

Transfer of Funds to Borrower

After all the parties agree and sign the agreement, funds will get transferred from the investors bank account to the escrow account (non-interest bearing). The funds are then transferred to Borrowers bank account from the repayment escrow account.

Repayment of EMIs

There will be a complete amortization schedule available on Borrower’s Dashboard. Also, there will be notifications about upcoming EMI to be paid. Borrower is expected to pay all the EMIs within the due date. In case of delay or default, it will attract severe penalty. Borrower may also repay the outstanding loan amount with attracting any additional repayment charges.

Invest with us

Get yourself registered as a Investor with PaisaDukan

To register, click on Sign In/Sign Up on the homepage and then click on Register as Investor. Fill in the required details as asked in the form and get your mobile number and email address verified. Post this, you will be asked to fill in your personal details, employment history, financial details along with scan of self-attested copies of required documents. You will be asked to upload relevant documents. Finally, a nominal amount of Rs 500+GST will be required to be paid from your end in order to complete the registration process and become a registered investor of PaisaDukan.

Interest Rate and Term for Investor

PaisaDukan aids the investor as well as borrower in deciding the interest rate and the term for loan transaction between borrower and lender. On the basis of our proprietary Credit Score Model, our team will suggest an interest rate and the term of loan after assessing borrower’s credit risk. An investor will have to follow the decided interest rate and the term in order to further proceed in the process of loan application.

Investor Dashboard

Once your profile is approved with our team, you will get a notification and the same will be reflected in your dashboard. You can view all the details of your applied bid(s), your complete portfolio and all the possible details required on the investments that you have made on the platform of PaisaDukan. You cannot withdraw any of the applied bids, however, you can increase your bid amount only if your existing bid does not exceed an amount of Rs. 50,000. Re-applied bid should be greater than the already applied one. With investor dashboard, an investor can modify an existing bid and access all the required functionalities from the Investor’s Dashboard.

Funding of Loan

If the loan amount requested is more than Rs. 50,000 then it will necessarily get funded from more than one investors. This will mitigate the risk and presence of PaisaDukan as a matchmaker will ensure that the interest rate decided by PaisaDukan stays uniform across all the stakeholders involved in the loan transaction.

Signing of Legal Contract

Upon successful verification, there will be an investor agreement and a tripartite agreement which will be required to be e-signed by Investor. It will be a legally binding document enforceable in the court of law.

Transfer of Funds from Investor

After all the parties agree and sign the agreement, funds will get transferred from the Investor’s bank account to the escrow account (non-interest bearing). The funds are then transferred to Borrower’s bank account from the repayment escrow account.

Repayment of EMIs

There will be a complete amortization schedule available on Investor’s Dashboard. Also, there will be notifications about upcoming EMI to be received. In case of delay or default at borrower’s end, borrower will be liable to pay severe penalty to the lender.

To know more, please refer the FAQ section.