Frequently Asked Questions

i-lend is a Social /P2P Lending marketplace on the internet. It brings people who need money and people who have money to lend together and enables a loan between them.

No, i-lend is not a financial institution. It is a marketplace that brings together borrowers and lenders to enable a transaction between them on their terms. Individual borrowers get loan from individual lenders.

Yes i-lend regulated by RBI. i-lend is like ebay for money or like a facebook for lending and borrowing. It is a marketplace on the internet. Since i-lend doesn't borrow or lend money, it does not come under the purview of RBI. i-lend provides a service to people.

People who need money for personal need register as borrowers with i-lend and fill in the registration form. All the information provided must be accurate and up-to-date. Once you register, you will receive a phone call confirming your interest and our credit verification team is alerted.

After your information is verified, you can then fill in your other details. Please ensure that you build your profile sufficiently strong so that lenders offer you a loan. Additional information such as your family background, financial status and employment details will help attract lenders to your listing.

You can request loans from Rs. 25,000 - Rs. 5,00,000 but to a large extent, your loan request has to be backed by your ability to repay. This is determined by i-lend's credit team.  Once your loan listing is active you can see lenders bidding to give you a loan for the full amount or a part amount of the loan you requested. Wait till your loan amount is fully funded and agree to the terms or request better terms. Similarly, lenders can place offers on the listing page indicating the amount they want to lend and the minimum returns expected.

Both lenders and borrowers can search listings and send requests to specific individuals based on information provided. The listing is closed once the borrower has received funding and has accepted the loan amount. The loan transaction is closed when the borrower receives the money in his account. Documentation and related transactions for borrowers and lenders is handled by i-lend.

To join i-lend, individuals must meet the following criteria:

  • Minimum Age: 21 Years
  • Nationality: Indian with Indian Citizenship Status
  • Users should have a valid Savings Bank Account business model works on a peer-to-peer concept. We let lenders and borrowers agree on terms of the transaction. This means, the interest rates are determined by the borrowers and lenders and not i-lend. i-lend only charges a fixed transaction fee. Unlike banks, we do not make any money over the difference, in lending or borrowing rates. What's more, i-lend brings down operation costs by using the internet as a platform to connect with lenders and borrowers. All transactions are done online and hence we do not have high capital expenditure such as people, cost at various locations and the infrastructure costs associated with this. This lowers our operation costs by a significant value which we pass on to our customers.

i-lend charges minimal fee for the services it offers. On loan closure, 4% - 4.5% of the loan amount is charged as processing fee to the borrower while lenders pay 1000 per lakh of the lending amount, whichever is higher.

No information about borrowers or lenders is shared with any third parties. Information is shared only for purposes of transactions with the borrowers and lenders. Only necessary information such as loan requirements, purpose, employment status and details, educational background etc. is shared on the site between the borrowers and lenders for making informed decisions. No contact details such as e-mail id, phone numbers are shared between borrowers and lenders. Please refer to Privacy & Security Policy for more details.

In the event of i-lend closing, all loans that have originated through i-lend still hold good. This is because; the agreements are still legal and are signed directly between the borrowers and lenders. Our backend team will continue to collect the money from the borrowers and give it to the lenders. Legal action is possible against borrower defaults.

i-lend is headquartered in Hyderabad, India. We are serving our operations in all cities.

A borrower is an individual who has registered with us to borrow money from the pool of registered lenders on i-lend. A borrower must be a resident of India and above the age of 21 years.

To borrow on i-lend, individuals must be residents of India and at least 21 years old with a valid bank account, income and identity proof. All registered borrowers have to go through our verification process successfully and must agree to comply with i-lend’s borrowers agreement.

When you as a borrower are successfully registered, your loan listing page appears on the borrower listing page. Lenders can then see your listing and make offers to you depending on their lending criteria. All lender offers can be seen in the borrowers' listing page. A borrower may receive offers from many lenders.  

Similarly, borrowers can reach out to particular lenders to request loans from them. A lender may either accept this or reject. This information can be viewed by the borrower under borrower's "My Account--> My Loan Listing" section.

Borrowers can choose mulitple offers that are most suited to thier requirement. Borrower can accept loan by selecting mutliple offers, the sum of which is equal to or less than the loan amount requested by the borrower. The final interest rate of the borrower is determined by the weighted average of the offers selected.

Once a borrower accepts the loan amount, the listing is closed for further offers. i-lend then, collects all necessary documents, executes the required agreements and collects cheques from lenders and deposits in the borrower accounts.

Borrowers can request loans from Rs.25,000 - Rs.5,00,000. Loan amount must be in multiples of 5,000 only. However, the amount you are eligible for is determined by i-lend's credit team.

Borrowers can borrow money for 6 months, 12 months, 18 months, 24 months, 30 months and 36 months.

Yes, in fact it is most likely that you will receive offers for your loan from multiple lenders. Infact, as a part of risk diversification process, lenders are allowed to lend a maximum of 30% of your loan amount. This means that when you send loan requests to lenders, you can send a request for a maximum of 30% of your loan amount.

Getting loan on i-lend depends on the borrower's loan listing. A loan listing is like an application where borrowers share information about themselves and their loan requirement. Lenders see this information before deciding to lend to borrowers. Hence, it is essential that borrowers fill their loan listing page completely and give as much details as possible to get loans quickly.

If you have received 100% of your loan amount and have not accepted it within 3 working days, you will lose the loan. Since lenders spend considerable amount of time understanding borrowers and the amount they would like to lend, it is unfair if borrowers do not close their loan. In such case, i-lend excludes such borrowers from any future transactions with them.

No, you cannot change your loan amount once you have filled your loan requirement form as per i-lend's credit approval terms. You will receive an email from i-lend on the loan amount approved for your application and the same is updated on your listing. 

Borrower interest rates are determined by the lender market. All registered borrowers are verified for their financial status, employment, residence etc. and only on successful verification, this information is shared with the lenders. To understand the profile of a borrower, i-lend offers tips to lenders (see Know your borrower) that are a guidance tool for taking informed decisions.

Each individual lender then offers loan to borrowers at the interest rate that he thinks is ideal, for a certain profile of a borrower. The interest rates for each lender may vary. When determining the final interest rate for a borrower, the system takes a weighted average of all offers selected by borrower for his loan. However, the interest rate for lender will be the rate he has offered to the borrower. 

i-lend rates all borrowers into 3 main risk categories - Low Risk, Medium Risk and High Risk. We use multiple parameters to arrive at individual borrower's credit rating. Firstly, all borrowers are rated on their social profile i.e. based on individual's social presence on various sites such as Facebook, Linkedin, gmail, yahoo, hotmail, twitter. To arrive at this score, i-lend has tied up with a New York Based Social rating company. We beleive that an individual's social preferences determine to a certain extent the attitude of the individual which also reflects his financial discipline. There are multiple research / studies done on such co-relation which can be easily found on the internet.

The other factors that determine individual's credit rating include his financial status, past payment records, work experience and other quantitative factors. i-lend uses its own algorithm to arrive at a score which then classifies borrowers into different risk profiles.

Once your loan is closed, it will take upto 7-10 working days for us to collect the money from lenders and transfer it into your account.

If your loan amount is transferred before 15th of the month, then you must pay interest for the full month. However, if the loan amount is transferred after the 15th, then you will be charged interest only for the fifteen days of this month.

EMIs should be paid by the 7th of every month. If your loan closure date is after 15th of a month, then your EMI starts from the month after next and your first EMI will include interest charges for the additional fifteen days.

For example, if your loan was closed on the 21st of January, then your EMI payment starts from March. However, the March EMI will also include the interest for the remainder days of January.

No, you cannot have a second loan while you are still paying the first one.
You can repay your loan by making payments through cheque. Online payment option is currently unavailable.

You can prepay your loan at anytime during the period. There is no penalty for pre-closure. Please see the Interest Rate and Fees section for more information.

i-lend charges a processing fee of 4% - 4.5% of the loan amount for all loans that get funded and disbursed. Please see the Payment Terms and Conditions and Interest Rate & Fees section for more information.

Once a borrower loan is closed, the processing fee is collected at the time of executing the loan agreement. This money is collected from you through a cheque in favour of Dipamkara Web Ventures Pvt. Ltd. 

A Lender is an individual who lends money to borrower on i-lend. He / she must be resident of India and above the age of 21 years with a valid bank account and PAN.

Individuals above the age of 21 years with a valid identity proof and bank account are eligible to be lenders. All registered lenders must go through our verification process successfully and must agree to comply with i-lend’s lender agreement.

When a lender is successfully registered, his listing page appears on the lender listing page. Lenders can then browse borrower listings and make offers on borrower loans, depending on their lending criteria. Lenders can decide the lending amount and interest rate at which they would like to lend to the borrowers. 

Similarly, borrowers can browse lender listing page and send requests for loan which can be seen on your listing page. You can either accept, modify or reject these requests. This information can be viewed by the lenders in thier listing page.

Lenders can make offers only when the borrower listing is active, i.e. when the borrower has been approved successfully until he has accepted his loan. Once a borrower accepts the loan amount during his active listing period, the listing is closed for further offers. i-lend then collects all necessary documents, executes the required agreements, collects cheques from lenders and deposit in the borrower accounts.

Lenders can lend a minimum of Rs.10,000 and can lend only in multiples of Rs.5,000 thereafter

Borrower loans are for 6 months, 12 months, 18 months, 24 months, 30 months and 36 months.

Yes. In fact we recommend that you lend to many borrowers as this will spread your risk.

No, there is no limitation on the number of borrowers you can lend to. However, the minimum amount you need to lend to a borrower is Rs.10,000.

A loan transaction is complete only after a borrower has received and accepted the loan offers that are less than or equal to his loan amount. His listing then shows a status "Pending" and the status of this loan can be seen in "% Funded".

Once a loan transaction is closed by the borrower, the money is collected from the lender within 3-5 working days.

Once a loan transaction is complete, i-lend collects a cheque of the amount as agreed with the borrower from you and this is transferred to the borrowers account within 7-10 working days.

No, currently this option is not available. However, you can add more amount to your lending account through "My Lendings" section.

Yes, you can change your committment on a particular borrower loan listing. If you wish to withdraw your offer, you can do so by going to the particular offer and click on "Withdraw Offer". However, you must do this before the borrower accepts the loan.

No, i-lend currently does not allow lenders and borrowers to interact.

No, we do not do a credit check for lenders currently. However, PAN verification is mandatory for all members.

Yes, i-lend allows investor to view borrower documents once they register on the platform. This fee is valid for a period of 6 months. Lenders can view any number of borrower documents. 

i-lend is only a marketplace and does not control the terms of agreement between lenders and borrowers. Your returns depend on the interest rate you set with the borrowers. i-lend helps you with maximum information about the borrower, his financial status and employment details, the decision to lend to a particular borrower lies entirely within your judgment.

As a registered lender on the site, you can view borrower's Employment proof, Salary proof as well as bank statement. No personally identifyable information or document is shared between borrowers and lenders.

Yes, all gains through lendings on i-lend borrower loans are taxable and hence must be filed as per the rules. This can be mentioned under "Other Income".

Yes, i-lend charges Rs 1000/- as a registration Fee.

Every time one of your borrower accepts loan online, i-lend will collect the lending amount plus the processing fees on that amount from you at the time of executing the loan agreement. This money is collected from you through a cheque in favour of Dipamkara Web Ventures Pvt. Ltd. 

The repayment date for all borrowers is 7th of every month. In case of a holiday, EMI will be deposited on the next working day. For the cheque to realise, it may take another 2-3 days.

i-lend collects post-dated cheques for the EMI amount from the borrowers for the total repayment amount at the time of loan disbursement. Your share of the amount (calculated on pro-rata basis) is then transferred to your account.

You can see the EMI schedule, payment details and status of each EMI in your account under "My Lendings" section.

In case a borrower misses an installment, i-lend will contact the borrower over phone and follow-up on the repayment. In case, the borrower is not reachable over phone, he/she is contacted through e-mail & letter. i-lend also reaches out to the reference member information shared during the registration process to get in touch with the borrower. If the borrower does not pay for two consecutive months, legal notice is sent to him. I-lend then employs a collections agency on behalf of lenders to recover the money from the borrower.

If a borrower prepays a loan, there is no penalty on this. You will receive your share of the principal amount outstanding (calculated on pro-rata basis) at the time of the prepayment.

i-lend does not guarantee the repayment of borrower loans as all loans offered are unsecured. However, we have a strict verification policy thereby bringing down the number of likely defaults. i-lend also has a strict recovery policy in case of defaults. Lenders can manage the risk of default by spreading their lending corpus across multiple borrowers. Lenders are also encouraged to understand the borrower better by asking various questions regarding the loan purpose, repayment capability and the borrower’s background.

All money lent on i-lend will be given back to lenders only after the repayment of the loan by borrowers.

About Listings

A listing is a borrower's / lender's public profile page that can be viewed by all registered users on i-lend.

The purpose of both the listings is same i.e. a public profile of the individual. While a borrower listing page helps individual borrowers to clearly tell lenders their requirement, the lender listing page is for borrowers to view and contact only those whose lending criteria match the borrower’s loan requirements.

A listing is a borrower's personal page requesting for a loan on i-lend. A loan on the other hand is the confirmation that i-lend lenders have agreed to lend their money to a particular borrower.

Borrower Listings

A good listing is usually very informative, which includes purpose of the loan, loan amount, interest rate, loan period, and your financial status. It is important that your expected interest rate is such that it attracts more lenders. Additional information such as employment details, past achievements, hobbies & interests etc. can be shared. This will help lenders build credibility in you and determine your ability to repay. See the link: Create an effective listing to know more.

No, not everyone can see all information on your listing page. We filter the content on your listing page and only relevant information is available for view by different users. For instance, registered lenders can see all information on your listing page while registered borrowers can see all information except financial status, question & answers. However, unregistered users can see only your loan requirement details and loan offers. They cannot see your financial status, your employment details or any other information.

A borrower listing is active when he successfully completes his verification process. All active listings are published on the borrower listing page and borrowers can send requests for loan or receive offers from lenders only after they have been approved by i-lend after completion of the verification process. A borrower can create his listing page as soon as the registration is complete. An active listing status shows "Open" on your listing page.

A borrower listing is open till he receives his loan amount on i-lend. However, if a borrower is not receiving loan offers for long time, it could be that the borrower listing is not very informative or attractive to the lenders.

If you are re-listing within the next 30 days, you do not have to submit the verification documents again. However, all information will be checked again.

i-lend allows borrowers to change certain sections of their listings.

  1. Loan details such as loan amount, interest rate and tenure can be changed till the verification process is underway. No changes can be done in this section after your loan application has been approved and listing status is "Open"
  2. Section such as purpose of loan, why should lenders lend to you and other details allow you to add more content but cannot edit the existing information.

Yes, you can cancel your listing before it has received 100% funding by clicking on "Withdraw Loan" on your listing page.

This section allows lenders to ask you questions that they may have on your listing. You can respond to these questions in this section itself. 

Yes, this section can be seen by all registered users. 

Investor Listings

A good lender listing should clearly mention the minimum lending amount to each borrower, expected returns, and if any specific purpose you would like to lend for. This will attract right borrowers to your listing for loan requests.

As a lender, your complete listing page is available for all registered users on i-lend.

A lender listing is considered open when it is appears in the lender listings page and lenders can receive loan request or make offers to borrowers. A lender can create his listing page as soon as the registration is complete. The lender listing is made public immediately. However, for the lenders to make offers, they must successfully complete their verification.

A lender listing is open as long as the committed funds are available in the lender account and if there is any money due from any of the i-lend borrowers. i-lend doesnot close a lender account unless the lender has specifically requested for it.

In such case, you can add more money into your account by clicking "Add Funds" in "My Lendings" once you login to your account.

No, you may not necessarily have to go through a verification process again. However, i-lend may choose to verify lenders at its own discretion.

No, you cannot make changes in your listing page once it is open. However, you can change the lending amount. In case you want to increase your lending amount, you can do this by clicking on "ADD FUNDS" under "My Lendings" in your account.

Yes, you can cancel your listing. However, to do so, you must withdraw all offers made to borrowers. Cancelling a listing means you are not interested in giving a loan through i-lend. To cancel your listing, please send an email to and your account will then be deactivated in 30 days.

Since borrowers pick the offers that they are interested in loaning from, it is most likely that your offer was not competitive and the borrower selected another offer over yours. 

This section allows you to ask questions to borrower you are interested in. Similarly, you can see the responses of your questions to particular borrowers in this section.

Yes, this section can be seen by all registered users. 

Yes, as a lender you can update your offer to a borrower listing. You can change the lending amount as well as interest rate. Once you have updated an offer, the existing offer is nullified. You can do this by going to the offer made and clicking on "Update Offer".

Yes, as a lender, you can withdraw an offer already made to a particular borrower. You can do this by going to the offer made and clicking on "Withdraw Offer". Please note that you cannot withdraw your offer after the borrower has selected your offer and the borrower listing is "Closed".


i-lend groups are informal groups that are formed by the borrowers or lenders to help the members get loans through i-lend. The member association can be social, professional, cultural, common ideas & interests, geographical etc.

Any registered borrower or lender can join a group. 

All borrowers or lenders can join a group by clicking on Group-Lend -> browse Groups -> Choose a group --> Read about the group on its page and click on "Join Group" 

Any registered borrower or lender on i-lend can form a group.

A group does not have a minimum or maximum number of members. However, it is essential that the group must be active so that lenders lend to the borrower members of this group. 

Anyone who starts or creates a new group becomes the group leader automatically.

A group leader is responsible for the following:

  • Create the group page
  • Maintain the group page up-to-date
  • Accepting new members into the group
  • Decide on the pre-requisites to join the group
  • Ensure that all new members meet the criteria to join a group.

A group page is an information page that gives details on the purpose of the group, group members, loans offered to members of the group, list of lenders who have offered loans to members of this group etc.

  • Group Name: Your group is identified on the website by the name you select for it. Your group name appears as title on your group page. Select a name that will help borrowers & lenders find your group during a search. For Example: if you are a set of borrowers who are all from same college, ensure that you mention that in your group name.
  • Group Logo: You can also have a unique logo for your group with which it will be identified.
  • Group Purpose: This gives a summary of the group and its purpose. This appears along with the group logo and name on your group page.
  • Group Description: This gives more information on your group. Ensure that you mention purpose of the group, why was it started, who can join the group, location, how do members know each other, how often do they meet each other (online / offline), and why should lenders lend to your group members.
  • Group Membership: The group membership is currently only by invitation. This is decided by the group leader while forming the group. The membership needs approval from the group leader or an invitation by the group leader.
  • Group Listings: This shows all the active listings of the group members.
  • Group Loans & Performance: This sections gives statistics on the overall group performance i.e. loans taken, average interest rate, default rates etc.

Registered borrowers or lenders can form a new group by following the below steps:

Go to Home Page -> Group-Lend -> Create Group

There is no restriction on number of groups a borrower or lender can join. 

Borrowers can leave their group by following these steps: Go to My Account -> My Groups -> Select the Group you want to exit -> click "Leave Group". Please note that members whose listings are active or have active loans cannot leave their groups 

Yes, if the existing group leader wants to step down, he / she can do so by nominating another member of the group to be the group leader. Upon acceptance of the Group leader status by the member, the existing group leader can step down.

In registration process we ask your bank details(salary account) to be used in all cases to transactions. Not transferred Rs.1/- as required for e-KYC.

It is necessary to verify the bank account of the member hence transfer is mandatory. If the transfer goes through successfully, it means that the information, is verified.

The member has to login into his bank account and transfer Rs. 1/- to i-lend’s current account. In i-lend's dashboard you can find "Account verification status" if it is pending you have to transfer Rs.1/-. Once transferred it takes one working day to update your payment status.

No. It has to be from the same registered bank account as is registered with

The narration should be the one shown in the i-lend’s verify your bank account details page.

The user can log on to his account and check his dashboard. If the status is Success against Bank account details verification, then it is verified.

i-lend’s bank would verify the bank account of the member and will do e-kyc. Once the same is approved by the i-lend’s bank, the member would be registered as beneficiary. On registration of beneficiary, the members can only then borrow/lend on i-lend’s website.

Money can be transferred to Borrower’s account, once the Lender is registered as Beneficiary. Once a Lender is registered, he can make offers to the borrower and then transfer the amount to Nodal account.

Money would be transferred to the Borrower account, only after all the conditions pertaining to loan disbursement is complete. These are Agreement signing, NACH mandate form approved, transfer of i-lend’s fees and receipt of security cheque.