How does i-lend work?

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.